Is a Consumer Proposal a Good Idea?

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

A consumer proposal is just one option for dealing with debt. As a debt relief approach it has it's own advantages and disadvantages over other programs that help you get out of debt.  For example: it can be better than bankruptcy if you have enough income to trigger surplus income payments or have assets that […]

New Surplus Income Limits for 2016

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

The Office of the Superintendent of Bankruptcy has announced the new surplus income limits for 2015 bankruptcy filings. Find out what the new limits mean for your potential bankruptcy payments.

Show #19 - Full Transcript - Clean Up Your Debt Mess

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

Full Transcript for our two part segment, Clean Up Your Debt Mess with Gail Vaz-Oxlade and Ted Michalos. [Start of recorded material]  [00:00:00] Doug H:            Welcome to Debt Free in 30, where every week we take 30 minutes and talk to industry experts about debt, money and personal finance. I’m Doug Hoyes. This show is […]

How a Cambridge Resident Found Debt Relief with a Consumer Proposal

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

Referrals from previous clients are a common way for people to hear about our debt services. One such person, whom I will call Fred, confided in a friend about his debt troubles after trying for two years to keep on top of his debts. His friend referred him to our office in Cambridge and so Fred gave […]

10 Facts You Need to Know About Bankruptcy

Posted in Personal Bankruptcy

Before you file bankruptcy, you'll need to know what you're getting into. Here are some important items you need to be aware of before you consider bankruptcy as a debt resolution option. If you're ready to explore your options, schedule a no-charge meeting with one of our trustees so we can sit down with you and […]

Step by Step Guide to Determining Surplus Income

Posted in Personal Bankruptcy

What is surplus income as it relates to bankruptcy? This handy guide will help you to understand and determine the surplus income payments you may be required to make after declaring bankruptcy.  For more information, try our free on-line surplus income calculator.

Why Surplus Income Is an Important Part Of Your Debt Recovery

Posted in Personal Bankruptcy

You’ve filed for bankruptcy. Good to go, right? Not necessarily. In order for your debts to be discharged once you have filed for bankruptcy, you will be required to complete certain duties, which in some cases involves making surplus income payments. What is Surplus Income? Simply put, the amount you are required to pay in […]

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:                 […]

What is Surplus Income?

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

If you file for bankruptcy in Canada, you are required to make a payment to your bankruptcy estate each month. This payment includes a base contribution to cover the costs of the administration of your bankruptcy and, depending upon your situation, an additional surplus income payment. This payment, and how it is calculated, is defined under the […]