My Child Has a Lot of Debt. How Can I Help?

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

For years, the bank of mom and dad has likely reigned supreme as the largest bank in Canada. Any parent can probably recall a time where their child approached them for some kind of financial assistance. As loving parents, we like to try to do what we can to help, but what happens when your […]

Joint Debt and Co-Signing. Am I Responsible For My Spouse's Debt?

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

It's time for another FAQ podcast and today we talk about if and when you might be responsible for your spouse's debt and how one spouse filing bankruptcy might affect the other. To answer these questions I talk with Hoyes Michalos Trustee in Bankruptcy, Jason Quinney joint debts and co-signed loans.

Co-Signer Is Still On The Hook After Bankruptcy

Posted in Debt Help
Posted by Brian McIlmoyle, B.Sc., CIRP - LIT

Lenders often will want a “co-signer” on money loaned to people who represent a marginal credit risk. Parents may co-sign for their son or daughter’s first car loan or mortgage because they don’t yet have a strong credit history of their own. A friend or family member may guarantee your refinancing loan because you do […]