Debt Relief Experts
New Surplus Income Limits for 2024
The government sets a limit on how much income you can keep before you have to make extra bankruptcy payments. This limit is updated each year. Learn more about this threshold.
Cost
The objective behind any debt relief program is that you eliminate your debt however each program comes with a cost. Our team of Licensed Insolvency Trustees answers some commonly asked questions about the cost of different debt relief options.
Read in-depth articles on the cost of filing bankruptcy in Canada, how surplus income works and check back here for updates on the surplus income limits released by the Office of the Superintend of Bankruptcy each year.
A consumer proposal is a negotiated agreement between you and your creditors. In these articles, we explore what consumer proposal cost factors your trustee looks at when determining what to offer in a consumer proposal and what terms you may want to consider.
We also explore the extra cost of using a debt consultant as an intermediary to file a consumer proposal.
Avoid The Surplus Income Penalty With A Consumer Proposal
Did you know there is a surplus income penalty in a bankruptcy if you make more than the ‘threshold’ income? Doug Hoyes explains how to calculate this and ways you can avoid a penalty all together.
Please Stop Paying for Consumer Proposal Representation
Should you pay for third party advice when seeking a consumer proposal? We explain what a consumer proposal administrator is and why you should work directly with a Licensed Insolvency Trustee for debt help.
Why Delaying Your Bankruptcy Can Cost You More
Are you delaying bankruptcy because you’re scared of what it entails or what it may change in your life? Find out what can happen if you continue to delay the process and why you don’t need to be afraid.
Are There Typical Consumer Proposal Terms?
Debt looks different for everyone and therefore the terms of a proposal will be different. We’ll discuss the common requirements of all proposals and why tailoring a proposal for you is important.
How to Make a Consumer Proposal Budget That Works
If you're going to file for a consumer proposal, we make sure your proposal payments fit your budget. In this blog, find out how to determine if you can afford payments.
Should I Borrow To Pay Off My Consumer Proposal Early?
Loans are available for individuals completing a consumer proposal. In this blog, learn about the pros and cons of borrowing to pay off your proposal earlier and 3 alternative ways you can do this.
Negotiating Consumer Proposals. What Your Creditors Expect.
Do you want to learn more about the negotiation process involved in a consumer proposal? We'll explain what creditors might expect in a proposal based on internal policy and who does the negotiating.
Calculating Payments in a Consumer Proposal
When you file for a consumer proposal, you offer your creditors an amount for your proposal payments. In this blog, find out what factors affect this and 3 steps you can use to calculate your payment terms.
What Does it Cost to File for Bankruptcy in Ontario?
We explain the three factors that affect how much you may have to pay to file bankruptcy in Ontario: income, assets and if you have filed before.
Why Surplus Income Is an Important Part Of Your Debt Recovery
To be discharged from a bankruptcy there are certain duties that need to be completed first, one of which may include surplus income payments. Find out what surplus income is and 5 reasons it’s important.
Consumer Proposal Help When Expecting Lump Sum Payments
Consumer proposals are a very flexible tool when it comes to debt settlement. If you receive a lump sum before or during a proposal, find out how this can impact your proposal terms.