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 A Consumer Proposal can Improve Your Cashflow

Posted in Consumer Proposals
Posted by J. Douglas Hoyes, CA, CPA, LIT, CIRP, CBV

A consumer proposal is a safe and reliable way to get out of debt but it can also be the cheapest in terms of monthly payments. This is because it combines two substantial benefits over other debt repayment options: Debt forgiveness; and an Interest free repayment period. To illustrate we will look at a typical […]

Lobbying to Clarify and Retain Exemption Protection for Debtors

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

I strongly believe that the bankruptcy process should be fair for all parties. So, when I observe what I believe to be unfair treatment, I speak up.  On December 1, 2015, new laws came into effect in Ontario that increased the protection for debtors filing bankruptcy.  You can read my full report in my post on […]

What It Means To Go Bankrupt

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

Bankruptcy trustee Benny Mendlowitz talks about what it means to file bankruptcy and answers several key questions including whether you can keep a credit card if you decide to declare bankruptcy.

What Does It Really Cost To Go Bankrupt?

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

On today's show, Ted Michalos talks about the cost of bankruptcy. He begins the show by rethinking the way we look at bankruptcy as asks the question does it cost or save you money?

What Is The True Cost of Filing Bankruptcy?

Posted in Personal Bankruptcy

There is a lot to consider when deciding whether or not you should declare bankruptcy. Top of mind is often the question: what will it cost me to file for bankruptcy? Yes, there is a financial cost which will include a monthly payment and there is the potential you may lose non-exempt assets. However there […]

How To Deal with the Consequences of Declaring Personal Bankruptcy

Posted in Personal Bankruptcy

Most people view bankruptcy as the end of the road but in truth it's just a beginning. Whether you file for bankruptcy or are able to make a deal with your creditors through a proposal, the upside is that you will be debt free at the end of the process. so while there are a […]

What Does it Cost to File for Bankruptcy in Ontario?

Posted in Personal Bankruptcy

Filing for bankruptcy is a big decision. It has both positive and negative financial consequences that impact you and your family. Before you make such a big decision it's important to weigh your options and understand the ramifications of filing for bankruptcy in Ontario, both in the short and long term. A word of caution: […]

Surplus Income in Bankruptcy: Video

Posted in Personal Bankruptcy

Doug Hoyes and Ted Michalos explain what is meant by surplus income payments in personal bankruptcy in Canada. More information about how surplus income is calculated can be found in our article here. You can also get an estimate of what your surplus income payments might be by trying our surplus income calculator. TRANSCRIPT Dave:                 […]