Every two years we issue a report that provides a detailed analysis of emerging trends in bankruptcy filings in Ontario. We track debt loads by age, income level, marital status and gender. We also compare types of debt, secured versus unsecured, credit cards, personal loans, income taxes and payday loans. From this information we get […]
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 […]
We talk with Jonathan Chevreau about how to adopt a form of guerilla frugality in order to get out of debt, stay out of debt and reach your goal of financial freedom.
Recently, the Ontario Ministry of Government and Consumer Services (Ministry) asked interested parties to submit their recommendations on potential ways to strengthen consumer protection for those individuals who may use alternative financial services (AFS) such as payday loans and quick cash installment loans, as well as those who may find themselves facing debt collectors. As […]
On today's Debt Free in 30 rebroadcast we talk with Gail Vaz-Oxlade about how to build a repayment plan to get out of debt and Ted Michalos about consumer proposals.
Whenever I meet with someone to discuss filing bankruptcy or consumer proposal one of the questions I ask is, “do you bank where you owe money?”. If the answer is yes, I strongly advise that they open a new bank account before going bankrupt or filing a consumer proposal, at a bank where they have never done […]
Joint debts are one of the hardest concepts to understand. Things can get even more complicated if one spouse declares bankruptcy or files a proposal or during divorce. Our quick info guide helps clear up some of the confusion.
We talk credit reports, callable debt and building a safe and solid debt repayment plan with financial expert Gail Vaz-Oxlade.
You're out of school, found a job, and now it’s time to pay off your student loans. In Canada student debt can take two possible forms: a government guaranteed student loan and a private student line of credit. If you are carrying more than one type of debt, which one should you tackle first, or are they […]
Debt problems can happen at any age, at any income level. We talk with Heather Cudmore about how credit counselling and a debt management plan can help.
You've used your credit cards a few more times than you thought and now looking through your statements, the balances are much higher than you've planned for. When you add it all up, paying only the minimums will to take you 42 years and nine months to pay off the total amount. To top it all off, you just lost […]
It's not always common knowledge that personal bankruptcy or a consumer proposal can deal with tax debts that arise in the course of operating a small business. Here is one case study from our London office that shows how one entrepreneur dealt with his tax problems so he could continue in his enterprise. The Challenge […]