Ontario Limitations Act and Old Debts

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

Is it true that if you just ignore an old debt it will go away? Not exactly. There are a few misconceptions about the Ontario Limitations Act. Let's separate fact from fiction.

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 […]

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.

What Happens to Air Miles Points if You Go Bankrupt?

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

Air Miles has changed their loyalty program, which brought up a question from our listeners: What happens to my Air Miles, loyalty points and cash-back program if I file bankruptcy?

Should I Use My RRSP to Pay Off Debt?

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

In our first technical tidbit podcast, Doug Hoyes explores the tax and legal implications of withdrawing money from your RRSP to pay off debt. He explains how RRSP savings are protected from seizure in a bankruptcy in Canada.

Why Delaying Your Bankruptcy Can Cost You More

Posted in Personal Bankruptcy

Your debts are high and the struggle is keeping you up at night so much so that you know you need to do something. Yet you've been delaying filing for bankruptcy because you're nervous about the process or are afraid about how filing bankruptcy will affect you or your family. But should you be? For many people, the […]

How To Deal With Divorce And Bankruptcy

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

It’s often hard to know what came first: financial problems or the breakdown of the relationship. Generally, the two go hand in hand. To help me delve deeper into divorce and bankruptcy, my partner of Hoyes, Michalos, & Associates Inc., Ted Michalos joins me on today’s episode of Debt Free in 30.

Consumer Proposal vs Bankruptcy – Which One is Right for You?

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

Consumer proposals and bankruptcies offer similar benefits, but differ in length and cost. How do you know which one is right for you? It will depend on your financial situation. Listen to this week's podcast as Ted Michalos compares consumer proposals vs bankruptcies.

10 Bankruptcy Definitions You Need To Know

Posted in Personal Bankruptcy

As licensed insolvency trustees, we will explain how bankruptcy works and what it will mean for you and your family. To help you understand the bankruptcy process here are 10 bankruptcy definitions you may want to know before your first meeting. View the infographic or scroll to the bottom for a text version and links to […]