Judgment and Lawsuit Stopped by Bankruptcy Act

Posted in Success Stories
Posted by Benny Mendlowitz, CPA, CIRP - LIT

For the average person, a judgment or lawsuit is a scary thing. This is not just someone calling you for collection or sending you past due notices. Somebody you owe money to is using the legal system and the courts to collect money from you. You feel like you are at their mercy. Usually, as is […]

Retired Widower Uses Credit to Cope With Grief

Posted in Success Stories
Posted by Alison Petrie, CPA, CIRP – LIT

Insolvency can happen at any stage in life. Debt has no standard face or age. This unfortunate reality was recently realized by one of our clients who we’ll call Jack. Jack and Diane worked hard their whole lives. They raised a family together and finally reached the stage of their retirement. Their combined pension provided […]

Teacher Loves Teaching Just Not Her Student Debt

Posted in Success Stories
Posted by Alison Petrie, CPA, CIRP – LIT

Everyone envies teachers the amount of time off they have each year, their strong benefit and pension plan and higher than average salary. With the average secondary school teacher in Ontario making around $51,000 a year you wouldn’t think we would see many teacher’s getting into financial trouble. Surprisingly that’s not the case. Paying off […]

From Employee to Consultant Leads to Personal Debts

Posted in Success Stories
Posted by Scott Schaefer, CPA, CA, CIRP - LIT

Transitioning from employee to consultant isn’t easy no matter how you get there. Some make a conscious decision to start up a business on their own, others shift into the role of consultant after a job loss. Regardless, if not planned out carefully, the migration from employee to consultant can lead to unexpected personal debts […]

When A Debt Management Plan Doesn't Work

Posted in Success Stories
Posted by Joel Sandwith, BA - LIT

We work closely with several local credit counselling agencies so it’s not unusual for clients to be referred to our offices from credit counsellors. Sometimes they are sent straight to our office because it’s obvious that their situation is severe enough that only a bankruptcy or consumer proposal will solve their debt problems. At other times, […]

Self-Employment and Illness create Challenging Debt Problem & Creative Solution

Posted in Success Stories
Posted by Alison Petrie, CPA, CIRP – LIT

Many of us dream of having a challenging career, one where we are our own boss and enjoy what we do. Working for yourself can provide just those benefits, however the potential rewards also come with risk. For one of our clients, the risk was the implications of a long term illness on her income […]

Helping Adult Children Financially Can Lead to Insolvency

Posted in Success Stories
Posted by Rebecca Martyn, CPA, CGA, CIRP - LIT

It is a tale I am hearing far too often: “I was helping family financially and now I can’t afford my own bills”. Between the high cost of housing, student loans and the lack of quality full time jobs, Canadians in their 20’s and 30’s are stretched to the limit and their parents, and sometimes […]

Tired of Making Credit Card Payments and Getting Nowhere

Posted in Success Stories
Posted by Howard Hayes, Btec, CIRP - LIT

If you owe $5,000 on a credit card your minimum payment is $100. In all likelihood you can afford to pay more than that in order to reduce your balance. Owe $25,000 in credit card debt and your minimum credit card payment is $500. Now you’re reaching the territory where all you can afford is the […]

Overcoming Drug Addiction and Debt

Podcasts
Posted in Success Stories
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

Today's podcast guest, James, is a real life client who talks about his drug addiction and recovery and how bankruptcy helped him deal with the debts he accumulated while an addict. It's an inspiring story for anyone battling addiction and debt problems.

A Consumer Debt Proposal Makes Rent Affordable Again

Posted in Success Stories

Millennials are struggling to get out on their own. Even renting is costly, but it quickly becomes unaffordable when you are carrying extra debt. Here's how we helped one Toronto man restructure his finances through a consumer debt proposal so he could move out and be sure he could keep up with his rent payments. […]