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.
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.
If you carry a credit card or have a cell phone contract, you have a credit history. The more you borrow, the more history you have. Your credit history is more than your credit score... Read more »
The Canada Revenue Agency has begun issuing formal collection letters for CERB repayment to recipients who may or may not have been eligible for the payments they received. You may have received a letter from... Read more »
A recent report by the Bank of Canada highlights the potential winners and losers, or as they put it, heterogeneous effects, arising from the economic impact of COVID-19. The general conclusion is that higher-income earners... Read more »
Almost 1 in 10 Canadians took advantage of mortgage and loan deferrals during COVID-19. Some did so because they were out of work and needed the money for more urgent living expenses. Others deferred loan... Read more »
Your car is perhaps one of the first things that come to mind when you decide to file a bankruptcy. If you depend on your vehicle to get to work, you may wonder if you... Read more »
If you find yourself unable to pay your mortgage, you may be facing the potential repossession and forced sale of your home. In Ontario, this can happen through one of two legal procedures available to... Read more »
When you fall behind on your mortgage payments, you may be concerned about mortgage foreclosure and wonder if bankruptcy can help stop a foreclosure process. In Canada, bankruptcy and mortgage foreclosure are two different legal... Read more »
There are several options available for dealing with your debts in Ontario, but today I want to discuss bankruptcy versus credit counselling. There could not be two debt relief programs viewed more differently by consumers.... Read more »
Collection agents are getting creative: they are now threatening to force Canadians into bankruptcy. If you don’t voluntarily pay them the amount owing, they say they will go to court and get an involuntary bankruptcy... Read more »
A Canadian consumer proposal must be filed with a Consumer Proposal Administrator, who is also a Licensed Insolvency Trustee. No-one else can administer consumer proposals in Canada. Not a lawyer, not an accountant, and not... Read more »
When the COVID-19 crisis hit at the beginning of 2020, millions of Canadians saw their income reduced significantly or lost it altogether. Renters struggled with rent payments; homeowners were worried about meeting their monthly mortgage... Read more »
The first time it happens, it’s alarming to learn that your bank seized money from your chequing or savings account to pay off a debt you owe them. What the bank has done is exercised... Read more »
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