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.
A consumer proposal is a formal agreement negotiated between you and your creditors to settle your debt for less than the full amount. So, what makes a consumer proposal legally binding? What say do creditors... Read more »
I’ve seen and heard many false comments about consumer proposals over the years. Despite these misconceptions, a consumer proposal has become the debt relief option of choice for people facing debt problems. Unfortunately, that doesn’t mean... Read more »
Debt problems creep up slowly. A few extra bills, an unexpected expense put on your credit card or using a payday loan to get through a cash flow shortfall starts the ball rolling. At some... 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 »
Credit counselling is a program to repay your debts in full. Many people choose credit counselling because they think the program is less harmful to their credit. The problem is, in a significant number of... Read more »
Recently we received a call from someone asking about a company called Sherwood Financial Service who bill themselves over the phone and online as Advanced Fee Loan Brokers. They even have profiles on the Better... Read more »
It’s our first time sponsoring the Sun County Panthers, who are a local AAA hockey team based near my hometown Windsor, Ontario. I have a personal connection with this sponsorship, as my son is playing... Read more »
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 »
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. Anyone may be concerned about how bankruptcy affects... Read more »
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 »
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 »
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 »
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 »
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 »
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 »
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