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.
If you have a few problem debts, perhaps an outstanding credit card balance, a cell phone bill, or unsecured financing loan, what can you do to pay off that debt faster? Should you consolidate your... Read more »
With many Canadians facing a cash crunch during the COVID-19 lockdown, a quick-fix solution has been to defer debt payments. Here are some fast facts about how popular loan deferrals were with Canadians: Close to... Read more »
Payday lenders never cease to amaze me in their creative attempts to deceive their borrowers. Last week, one of our consumer proposal clients received an e-mail from a payday lender called Cash 4 You. The... Read more »
We’re finding that we meet with more people every day who have heard of consumer proposals, and are interested in them as an alternative to bankruptcy, but it seems many are not completely sure about... Read more »
If you are looking to consolidate debt with a new personal loan and have a low credit score, your lender may request you get a debt consolidation cosigner before approving your application. The question is,... Read more »
Household debt was in a crisis before the recent economic downturn, with many Canadians owing more debt than they could ever hope to repay, and the coronavirus shut down of 2020 has accelerated the collapse. ... Read more »
As personal debt levels increase, bankruptcy filings are on the rise in Canada. The stigma behind bankruptcy is certainly falling, yet many people are still afraid of both the bankruptcy process and what it means... 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 »
Bankruptcy in Canada is very regulated. Bankruptcy law is governed by federal legislation known as the Bankruptcy & Insolvency Act. All Licensed Insolvency Trustees are registered and monitored by the Office of the Superintendent of... Read more »
Before the economic impact of the shutdown and social distancing, Ontario was already feeling the financial effects of too much debt. In the six months before March 2020, when businesses began to close and employees... 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 »
The impact of the Coronavirus is upon us. Our best collective response is to do what we can to flatten the curve and ensure the impact on our healthcare system is as small as it... Read more »
Will Canada Revenue Agency (CRA, formerly Revenue Canada) accept a consumer proposal? Yes, they will, but only if certain conditions are met. Today I’ll explain the most important “tricks” or tests that you must meet... Read more »
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