Debt Relief Experts
Why Credit Counselling Doesn’t Help with Payday Loans
Payday loans become the loan of last resort for a lot of people struggling to keep up with credit card and other debt payments. In fact, 4 in 10 of our clients use payday loans... Read more »
Ontario Bankruptcy Blog
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.
What Happens To My Professional Designation If I File Bankruptcy or Consumer Proposal?
It’s not uncommon for someone holding a professional designation to face personal debt problems. After all, financial trouble can happen to anyone regardless of career or income. But how will a bankruptcy or consumer proposal... Read more »
Can a Medical Doctor in Canada File for Bankruptcy and Still Practice Medicine?
Even doctors can face personal financial problems. If you’re an insolvent medical doctor in Ontario, filing bankruptcy will have no impact on your ability to practice medicine. But as your monthly income is likely to... Read more »
Will I Lose My Real Estate License if I File a Bankruptcy or Consumer Proposal in Ontario?
Filing for personal bankruptcy or a consumer proposal does not necessarily mean your registration with the Real Estate Council of Ontario (RECO) will be revoked. If you are about to file for bankruptcy or a... Read more »
Filing Bankruptcy or Consumer Proposal as a Lawyer in Ontario
If you are an insolvent lawyer in Ontario, the Law Society of Upper Canada (LSUC) will place restrictions on your ability to practice law if you are filing for personal bankruptcy. Per By-Law 8, Part... Read more »
What Happens if I File a Bankruptcy or Consumer Proposal as a Human Resources Professional?
If you hold a CHRP, CHRL, or CHRE designation and wish to file for bankruptcy or a consumer proposal, you are required, by law, to notify the Office of the Registrar of the Human Resources... Read more »
Effects of Filing Bankruptcy or Consumer Proposal as an Accountant in Canada
Yes, even an accountant can have money problems. If you’re currently a Chartered Professional Accountant in Ontario considering a bankruptcy or consumer proposal to deal with your debt, you can do so without necessarily losing... Read more »
Effects of Filing Bankruptcy or Consumer Proposal as a Certified Financial Planner in Canada
Financial problems can happen to anyone, even financial planning professionals. If you’re a new applicant or a current certified financial planner renewing certification with the Financial Planning Standards Council (FPSC), you will be required to... Read more »
Should Pensions Be Protected in a Corporate Bankruptcy?
When a private corporation with a defined benefit pension plan files for bankruptcy, retired or nearly-retired employees are not likely to receive their full pensions as promised if the pension is underfunded. As we witnessed... Read more »
Overcoming Financial Problems After Divorce
We were delighted to receive this kind letter from a client, Melissa, who filed at our Guelph office. Filing for bankruptcy allowed her to achieve debt freedom and a fresh start following a long and... Read more »
What To Do If You Owe Back Taxes to CRA
You’ve filed your tax returns, or maybe not, but you can’t pay your taxes to the Canada Revenue Agency. What do you do next? What are your options if you owe past taxes in Canada?... Read more »
How Do I Know If I’m Insolvent?
It’s important to know the difference between debt problems and creeping insolvency. Knowing how serious your situation is will help you choose the right option to deal with your debt. Sometimes it’s easy to tell... Read more »
Can I Travel While Bankrupt? When Do I Need To Be in Canada?
I often see clients who want to file for bankruptcy or a consumer proposal to eliminate their debt but worry about how filing will impact their ability to travel for work, vacation, or to visit... Read more »
Consumer Insolvencies are both Seasonal and Cyclical – What’s Trending More?
Ice cream is seasonal. Fruit is seasonal. Boating – certainly seasonal. Housing can be seasonal. But insolvency filings? Yes – they really are quite seasonal too. Consumer insolvencies are also subject to cyclicality, secularity, and... Read more »
The Pros & Cons of a Pre-Approved Credit Limit Increase
Your bank has just sent you a pre-approval credit limit offer. Should you accept credit limit increases? When should you think twice about accepting a credit offer from your bank or credit card company? While... Read more »