Post-Holiday Debt Consolidation… Bah Humbug!
This holiday season is forecasted to be a big one in the area of personal spending. This trend has been gradually increasing over the last few years, especially in the area of e-commerce spending, and retailers are gearing up for the boom. Over the holiday season, so many families find themselves using their credit cards […]
Consumer Proposal VS. Bankruptcy – How Are They Different
If you have been facing financial challenges you may have been exploring financial options to deal with debt. Two of these options include a consumer proposal and bankruptcy. We are often asked the differences between filing a consumer proposal vs. bankruptcy in Canada, which prompted us to write this article. Before discussing the differences between filing […]
How to Deal With a Frozen Bank Account as a Result of a Canada Revenue Agency Tax Debt
When an individual or business has a tax debt owing to the Canada Revenue Agency, the Canada Revenue Agency will begin to pursue enforcement action to collect the debt. One method that the Canada Revenue Agency uses to collect debt is by freezing a bank account. A frozen bank account can be extremely disruptive and […]
Garnishment of Wages Blog Series Part 3 of 3 – Garnishment of Wages by the Canada Revenue Agency and Your Options
One of the scariest and most serious garnishments of wages that exists is a garnishment of wages issued by the Canada Revenue Agency. When a tax debt is owed, the Canada Revenue Agency has a vast arsenal of tools at their disposal that they can deploy to collect money from you. A wage garnishment is […]
Garnishment of Wages Blog Series Part 2 of 3 – How to Stop a Wage Garnishment
In our last blog in this series we answered the question “what is a wage garnishment”. If you have been threatened with a garnishment of wages then you need to know that your employer is about to be notified about your defaulted debt. If your wages are already being garnished then your employer has already […]
Garnishment of Wages Blog Series Part 1 of 3 – What is a Wage Garnishment?
A garnishment of wages is one of the most common and effective enforcement methods used to collect money through the Small Claims Court by the Canada Revenue Agency, O.S.A.P, and Family Responsibility. A garnishment of wages occurs when you have defaulted on a debt and the party you owe money to serves your employer with […]
Debt Relief in Canada Blog Series Part 4 – The Reality of Making a Debt Settlement
You may have heard about debt relief in Canada being offered by debt reduction companies or some of the government reports warning consumers about the risks associated with debt reduction companies. The debt reduction companies that the government has been speaking out against are those who offer debt relief in Canada without a bankruptcy or […]
Debt Relief in Canada Blog Series Part 3 – Are There Consequences to Filing for Bankruptcy?
There are many options for debt relief in Canada, and one of the most common is bankruptcy. If you have financial problems, bankruptcy may seem like a scary option because of the consequences that many people associate with filing for bankruptcy. Hopefully this article will help you to understand bankruptcy better and determine if in […]
Debt Relief in Canada Blog Series Part 2 – Do I Qualify to Refinance My Mortgage?
Debt relief in Canada can involve a debt settlement, a consumer proposal, budget management, credit counselling, bankruptcy, debt consolidation and more. The right option for debt relief will depend on your personal and financial situation and also the resources you have available to you to deal with your debt. A homeowner with home equity has […]
Debt Relief in Canada Blog Series Part 1 – Is a Consumer Proposal the Answer?
Debt relief in Canada is a subject that is constantly in the news for many reasons, whether it is the government reporting on the fact that Canadians are carrying historically high levels of debt, reporting on debt reduction companies and what to watch out for, reporting on changes to CMHC lending guidelines to stop those […]