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.
In over 20 years helping Canadians eliminate their debt, I’ve yet to hear a single client say they chose to have debt problems. Debt accumulates over time and then it becomes an even bigger problem... Read more »
Many tax preparation companies offer a “cash back” option, meaning that they give you cash on the spot after preparing and filing your tax return. H&R Block is the most common example, but many smaller... Read more »
When used correctly, a credit card is a helpful tool to build your credit history, and it’s safer than carrying cash. However, when mismanaged, a credit card can quickly become one of the most expensive... Read more »
You may be surprised to hear that 4 in 10 bankruptcies involve payday loans. For many people, payday loans are not a one-time borrowing option. You may start out thinking I’ll only take out one... Read more »
Many people we meet are surprised to find themselves so far behind financially they can no longer pay their bills. The problem with debt is that it creeps up on us slowly. Today we are... Read more »
There are consequences for failing to make your debt payments as they become due; however, you do not go to jail just because you default on a credit card debt, bank loan, student debt or... Read more »
Whether you are a borrower or a beginning saver, the best way to beat the bank at its own game is to learn some basics so you can make a better decision. I talk with Larry... Read more »
A debt collector does just what the name suggests: they collect on unpaid debt. They won’t review all your debt relief options with you or give you a plan that makes debt repayment realistic and... Read more »
Some people struggle with $5,000 dollars in debt. Others can handle $50,000. It’s not the total amount of debt that you owe that signals you have debt problems, it’s your ability to repay your debt that matters;... Read more »
A home equity line of credit (HELOC) is a loan secured by the equity in your house. A HELOC is often presented as a great borrowing tool because unlike with credit cards or unsecured loans,... 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 »
Selling your assets to pay off debt can be tricky. Depending on the asset, there may be unforeseen costs. Cashing in your savings may not completely deal with your debt problems. You may, in fact,... Read more »
I meet with people every day who have built themselves a plan to pay off their debt, then failed because of one common thing they didn’t know ahead of time – their debts were too... Read more »
Whether your inheritance is included in a bankruptcy depends entirely on when you become entitled to receive the proceeds. As this is a complex issue, I talk with Ted Michalos and we take a detailed look... Read more »
The best way to control your auto expenses is to buy a car you can afford. This keeps your monthly car loan payments low (since you borrow less) and ensures that you don’t over-finance. But... Read more »
Debt Relief Experts