What is a Licensed Insolvency Trustee?

Posted in Bankruptcy Trustee
Posted by Ted Michalos, BA, CPA - LIT

Bankruptcies and consumer proposals in Canada are debt restructuring options available under the Bankruptcy & Insolvency Act. Increasingly today consumers are choosing to file a consumer proposal and avoid declaring bankruptcy. In order to help consumers more easily recognize and identify individuals licensed to provide debt restructuring services (both bankruptcies and consumer proposals) under the […]

How One Man Retired Debt-Free at Age 48

Podcasts
Posted in Money Tips
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

If you're like most Canadians, you dream of a long and enjoyable retirement. Is it possible to retire early and achieve that by the age of 48? While it is an anomaly, my guest today did just that.

RDSPs Exempt From Seizure in Bankruptcy in Canada

Posted in Personal Bankruptcy
Posted by Ted Michalos, BA, CPA - LIT

Unlike RRSPs, there is no provision in the Bankruptcy and Insolvency Act to specifically deal with funds in a Registered Disability Savings Plan (RDSP) in the event the beneficiary files for bankruptcy. This matter was dealt with in a recent BC Supreme Court ruling that held funds in a RDSP can not be seized by […]

Advertising Tricks: What We Can Learn From Donald Trump

Podcasts
Posted in In The News
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

As an observer from Canada, I'm interested in how Donald Trump used various tricks to convince Americans to vote for him. These are the same tricks that advertisers use to get us to buy their products, invest in their business and sign up for that store credit card.

Can Debt Consolidation Hurt Me Financially?

Posted in Debt Help
Posted by Howard Hayes, Btec, CIRP - LIT

"Debt consolidation" is often a phrase that people associate and confuse with "debt relief".  The belief is that if you consolidate your debt, you’ll be better off. But is that true? There are pros and cons to the different forms of debt consolidation. Whether or not it's right for you depends on your situation. Consolidating […]

The Big Credit Score Scam

Posted in In The News
Posted by Ted Michalos, BA, CPA - LIT

Most people know that to qualify for a loan they need a good credit history and reasonable ‘credit score’.  They also know that their credit score is something provided by the major credit bureaus. In Canada that means TransUnion and Equifax.  What most people may not know is that those scores have become big business, and in […]

Make Financial Responsibility Your New Year's Resolution

Posted in Money Tips

Every January should be a time to consider where you are financially and where you want your financial future to go. We should always be challenging ourselves to become more financially responsible. Yes it is like the New Year’s resolution, but the results can affect you the rest of your life. Let’s set you up […]

End of Year Statistics and Predictions for 2017

Podcasts
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

This past year had a lot of economic changing affecting how we live and spend. The key takeaway is that more and more Canadians are under financial pressure - especially those already carrying debt.

Brother, Can You Spare A Dime?

Podcasts
Posted in Debt Free In 30
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

Listen in on this week's podcast as we discuss links between the depression era and a classic song that captures the emotions that run through families struggling with debt.

Gender Bias in Financial Preparedness

Podcasts
Posted in Personal Bankruptcy
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

What's the correlation between women and insolvency? A study found that women are less knowledgeable than men about financial products. High-risk categories of women struggle to not only become, but to maintain a moderate level of financial preparedness.