Paying a collection agency can leave a bad mark on your credit report longer. We explore three reasons why you should not pay a collection agency and what alternatives you may have to deal with unpaid debts.
If you don’t make your payments on time your creditors will take action to collect. Will they sue? Can they take your assets? Learn about creditors rights and what options you have if creditors are calling.
What are your options if CRA says you were ineligible and must repay CERB, CRB or other pandemic related benefits? Can you file a bankruptcy or proposal if you can't afford to pay back CERB? Doug Hoyes explains.
There are provincial regulations that collection agencies must abide by. This blog outlines these rules, ranging from how often and when an agency can call, what they can say and when they can threaten legal action.
If you are facing a power of sale or foreclosure by your mortgage lender, find out what the basics and differences of both legal proceedings are, and what options you have.
Will filing for bankruptcy help stop a mortgage foreclosure? Can I keep my home? What are my options if I cannot afford my mortgage payments? Find out with our comprehensive guide to foreclosures and bankruptcy.
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 »
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 »
In Canada, each province has its own laws, rules and regulations around debt collection. If you are receiving collection calls, it’s essential to understand your rights when dealing with a collection agency. In this guide... Read more »
When a homeowner files bankruptcy or a consumer proposal, their unsecured debts are eliminated by their discharge from bankruptcy or upon the full completion of their proposal. This matter can be complicated when an unsecured... Read more »
Cars – coupes, sedans, sport utility vehicles, trucks. Roughly two-thirds of the people who file insolvency with us own a vehicle. The vast majority want to keep their car when they file a consumer proposal... Read more »
If you are behind on your car payments, the finance company may repossess your vehicle as a way to recover the money they are owed. Having the vehicle towed, however, is just the start of... Read more »
Update October 2020: The government has transitioned to an enhanced EI and Canada Recovery Benefit (CRB). The prohibition against garnishment remains for all regular creditors. If you have an EI overpayment from before, the government... Read more »
Last week I wrote about how you can manage your bills during the COVID-19 crisis. The response was overwhelming. A lot of people are understandably worried about the uncertainty of their household finances right now.... Read more »
A bankruptcy or consumer proposal provides an automatic stay of proceeding that can stop an eviction order from your landlord for rent arrears. Specifically, subsection 84.2(1) of the Bankruptcy & Insolvency Act says you can’t... Read more »
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