Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
Not sure if bankruptcy is the right choice for you? In this blog, discover what debt relief alternative will suit your financial situation, as we explore 5 options from personal budgeting to insolvency.
Category: Bankruptcy Alternatives
How does filing for a bankruptcy affect different registered financial accounts? Here is our comprehensive guide on how RRSPs, RRIFs, RDSPs, DPSPs, TFSAs, RESPs and others are treated in a bankruptcy.
Category: Assets & Property
Are you considering filing for insolvency and are curious how the process stops your creditors? Find out what a stay of proceedings is and how quickly it starts helping your financial situation.
Category: Bankruptcy Basics
Considering filing for another bankruptcy? It’s not uncommon, but there are some things you should know before you do. Explore the implications of filing subsequent bankruptcies and what your alternative is.
Category: Bankruptcy Alternatives
Learn the truth about 13 common credit card debt myths in Canada. Get facts about credit scores, collection rights, bankruptcy, and debt management from Canadian financial experts.
Category: Dealing with Debt
If you are facing higher mortgage payments on renewal, here's what you can do to manage or lower your mortgage payments and keep your home. Learn how to assess your financial situation and explore solutions that match your circumstances before your renewal date arrives.
Category: Dealing with Debt
While the Canadian government doesn't offer direct grants for personal debt repayment, it does regulate legitimate debt relief programs through Licensed Insolvency Trustees (LITs) who can help you reduce or eliminate debt through consumer proposals and bankruptcy.
Category: Debt Relief
Buy Now, Pay Later services offer seemingly convenient payment plans but can quickly lead to financial difficulties. Learn how how BNPL debt accumulates, warns about the risks of combining BNPL with other forms of credit, and provides practical steps to manage BNPL debt or seek help through options like a consumer proposal if payments become unmanageable.
Category: Dealing with Debt
Understand your options for dealing with credit card debt in collections including how the process works, dealing with collection agencies, and exploring debt relief options like settlement, consumer proposals, and bankruptcy.
Category: Dealing with Debt
You keep your wages in a bankruptcy but your salary does come into play when calculating potential surplus income in a bankruptcy. Learn how your income is affected when filing bankruptcy in Canada.
Category: Bankruptcy Basics
Wondering when to declare bankruptcy in Canada? Learn the signs, explore alternatives, and understand the process. Get expert guidance on making this crucial financial decision.
Category: Bankruptcy Basics
If you have unpaid tax obligations, CRA can place a lien on your home or other property to collect that money. Learn how a consumer proposal or bankruptcy can prevent a lien and erase your tax debt.
Category: Creditor Actions
Can you file for bankruptcy if you're unemployed? Yes - but timing matters. Learn how unemployment affects bankruptcy eligibility, required payments, and what happens if you find a new job during bankruptcy.
Category: Bankruptcy Basics
Loan deferrals let borrowers temporarily pause payments during financial difficulties, but come with significant long-term costs. We explain the pros and cons of applying for a loan deferral, credit score implications, when to ask for a loan deferral or when you should consider alternatives for managing debt.
Category: Dealing with Debt
Single parents are one of the most common groups to file for debt relief in Canada. This article explains your debt relief options, from budgeting strategies to government benefits to formal debt solutions. Learn practical steps you can take today to reduce your debt and create financial stability for your family.
Category: Dealing with Debt
Doug Hoyes explains the difference between a business and personal bankruptcy including what business debts are eliminated by filing personal bankruptcy and which remain. Read our FAQs on what happens when a small business files for bankruptcy in Canada.
Category: Bankruptcy Basics
Here is your guide to understanding what happens with unpaid debt if your business closes. Learn about restructuring debts, government debts, if you can still run your business, and more.
Category: Bankruptcy Basics
Paying down debt doesn't have to take big chunks of money. Doug Hoyes explains how to pay down debt sooner using micropayments and how it improves your financial situation.
Category: Dealing with Debt
What strategy you should you use to pay off debt - small balances or high interest debts? We explore the pros and cons of 2 common repayment approaches - debt snowball vs debt avalance - and provide tips to help you pay off debt faster.
Category: Dealing with Debt
Collection agencies in Canada can garnish your wages, but only after taking specific legal steps. Learn how often agencies actually pursue garnishment, what they must do before taking your wages, and what options you have to protect your paycheque.
Category: Creditor Actions
Filing bankruptcy requires you to complete certain bankruptcy forms including a statement of affairs and income and expense report. We explain these forms starting with your initial assessment and how a Licensed Insolvency Trustee helps you complete them.
Category: Bankruptcy Process
