As I blogged about last week, the Office of the Superintendent of Bankruptcy has released a review of consumer proposals involving debt consultants. I’ll start with an important reminder: a consumer proposal is a legal... Read more »
On today’s podcast we talk with Ted Michalos about the Office of the Superintendent of Bankruptcy and how they regulate the bankruptcy process, and trustees, in Canada and why they changed the name from bankruptcy trustee... Read more »
The market is currently flooded with debt advice businesses offering to help consumers with excessive debt. The vast majority are unlicensed and unregulated ‘debt consultants‘ not licensed insolvency trustees. Many simply charge a substantial fee... Read more »
Before you file for bankruptcy in Canada, you are required to meet with a licensed bankruptcy trustee to complete a full debt assessment. This assessment serves two purposes: it allows the trustee to fully review your... Read more »
If you are considering filing bankruptcy or a consumer proposal, you must select a trustee to work with you throughout the process. All bankruptcy trustees in Canada are licensed by the Federal government. That means... Read more »
The world is an interesting place and if you can imagine something, then someone, somewhere can find a way to sell it to you; even if the information is available for free. Really. Case in... Read more »
Just how does a consumer proposal work? It’s actually not that complicated. Today I sat down with Scott Schaefer, Chartered Accountant, Consumer Proposal Administrator, and Licensed Insolvency Trustee at Hoyes, Michalos and Associates to discuss... Read more »
Many people I meet with for the first time make the same comment: “I was afraid to make the first call, and I’m really nervous about this meeting.” I don’t think people are afraid of... Read more »
I met with a married couple last week who told me that they were embarrassed about their debt problems, and they were worried that when they met with me I would judge them for their... Read more »
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