Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our blog includes podcasts, videos, articles, case studies and Industry Insights about consumer proposals and bankruptcy in Ontario as well as personal finance, credit rebuilding and other money management tips for anyone looking to get out of, or stay out of, debt.
Most people have a hard time executing or sticking to a budget. As a credit counsellor I talk with people every day frustrated about how their budget isn’t working for them. They want to know... Read more »
The scams continue. Once again, we are hearing from people struggling with debt responding to advertisements about consumer proposals by companies not licensed to provide those services. I understand that we live in a buyer... Read more »
Legally you can file bankruptcy as young as 18. How much, and what kinds of debt can cause so much trouble for someone that they need to consider filing bankruptcy in their 20s? To answer... Read more »
Bankruptcy allows you to wipe out your debt and start fresh. The process can stop legal actions against you, and it will also prevent your creditors from harassing you for repayment. However, bankruptcy is a... Read more »
If you fail to make your debt payments when they become due, your creditors can and will take steps to try and get their money back. Actions can range from sending your account to collections... Read more »
Not just anyone can file a consumer proposal. And a trustee does not recommend a proposal to everyone struggling with debt. A consumer proposal helps you manage your debt by allowing you to make a... Read more »
Debt is a serious matter that can quickly become suffocating for many Canadians. Once you fall behind on your monthly payments, it may feel impossible to get out of debt. But it’s not all doom... Read more »
UPDATED February 10, 2021 CRA had previously interpreted self-employment income eligibility guidelines for CERB to mean net income, not gross income, which resulted in some self-employed workers receiving a notice of CERB repayment based on... Read more »
If you’re facing a massive amount of debt, it’s easy to become overwhelmed. You may believe that you’ll never repay your creditors thanks to late fees and high interest rates. No matter the reason you’re in... Read more »
There are definite rules that collection agencies in Canada need to follow. Collection agents cannot call you all hours of the day and night. Anyone collecting a debt must prove you owe the debt. While... Read more »
This pandemic’s cold hard reality is that many Canadian small businesses won’t survive the economic fallout from COVID-19. Given the virus’ unprecedented circumstances and sometimes haphazard government support for small business owners, there was bound... Read more »
CERB recovery is not the only collection letter being sent by the Canadian government related to COVID-19 pandemic support. Canadians who still owe money under the Emergency Loan for Canadians Abroad program are also receiving... Read more »
Which describes your current financial situation? You are struggling with payments on your bills and credit cards You are drowning in debt and facing threats of legal actions from creditors When facing extreme financial hardship... Read more »
Normally at the end of every year I would reflect on how household debt fared throughout the year and choose ten statistics that tell the story. But this year, the debt story is complicated. The year began with growing insolvency filings and ended with record lows.