Bankruptcy. We see it as one of those ugly, better-left-unsaid words that elicit a strongly negative reaction. But is our distaste completely warranted? Sure, it’s not a pleasant concept, but so much of the stigma attached is due to commonly believed myths about bankruptcy that emerge from misconceptions and misinformation. We hear certain myths about […]
If you are considering filing bankruptcy or a consumer proposal, you must select a trustee to work with you throughout the process. All bankruptcy trustees in Canada are licensed by the Federal government. That means that each has gone through extensive training and gained practical experience necessary to practice bankruptcy law and be granted a license. So technically, […]
Seniors are filing bankruptcy more than ever before and the trend is likely going to continue. Our 2015 Joe Debtor study showed that indebted seniors aged 60 and older accounted for 10% of all insolvency filings in Ontario, up from 8% four years ago. Industry Canada reports similar bankruptcy results across Canada with 10% of insolvencies filed by […]
Daniel Veinot, partner at Waterloo, Ontario law firm Duncan Linton discusses student loan debt forgiveness and how it is handled by bankruptcy law. Daniel has appeared in bankruptcy court many times on behalf of individuals looking for student loan debt relief and answers questions on how bankruptcy deals with student loan debt.
Listen to the podcast Student Loan Forgiveness and Bankruptcy Law Doug H: Welcome to Debt Free in 30, where every week we take 30 minutes and talk to industry experts about debt, money and personal finance. I'm Doug Hoyes. Today we're going to talk about student loans and specifically what happens to student loans if […]
Credit cards as a method of payment, are more popular among Canadians than ever. In fact, a recent survey by the Bank of Canada reported that credit card use was on the rise, in terms of number and value of payments, while both cash and debit card use declined. And the increase occurred across almost all […]
One of the biggest worries people have about filing bankruptcy or a consumer proposal is the loss of their credit cards. We talk with Jim Dunbar of Affirm Financial about an unsecured credit card they offer, for a cost, to individuals currently in bankruptcy or a consumer proposal and whether it's a good idea.
Listen to the podcast - Is It A Good Idea To Get A Credit Card During Bankruptcy? Doug H: Welcome to Debt Free in 30, where every week we take 30 minutes to talk to industry experts about debt, money and personal finance. I'm Doug Hoyes. As I record this show in June 2015, interest rates […]
More often, we hear from our clients about bankruptcy being a positive experience. The old stigmas associated with filing a bankruptcy are slowly being lifted and it’s not the taboo subject that it once was. In fact, people we help tell us the most stressful part about declaring personal bankruptcy was the period of time building up to […]
Choosing the right debt relief program for your needs can seem like a challenge. How do you evaluate the risks and benefits of each option? Our infographic compares 5 different debt relief options along 6 different risk factors including: Licensing Payments & fees Contract & legality Creditor protection Credit Score Success rates Before you choose any […]
Richard Dunwoody from AFO Venture Group offers his opinion on how credit counselling agencies in Canada operate and what this means to consumers.