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 »
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 »
The Canada Revenue Agency has a lot of tools to use to collect unpaid tax debts, and one of the strongest they issue is a Requirement to Pay or RTP notice. What is a CRA... Read more »
A debt collection agency will often threaten to sue you to get you to pay your outstanding debt. While a collection agency does have the legal right to take you to court to collect on... Read more »
You owe taxes to CRA and haven’t been able to make payment arrangements with a CRA account manager. One of the collection rights available to the Canada Revenue Agency is the ability to freeze bank... Read more »
In another article about wage garnishments, we talked about who can garnishee your wages in Canada. Compared to other creditors, the Canada Revenue Agency has the most extensive powers of debt collection. One of their... Read more »
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