Debt Relief Experts
Debt relief for seniors. What are your options?
An increasing number of seniors in Canada are carrying large amounts of debts into their retirement. We explore what this means and what you can do if you are struggling to pay down your debts.
Seniors & Debt
Do Senior Citizens Need to File Bankruptcy?
Does it ever make sense for retirees to go bankrupt? For many seniors, yes. Almost 30,000 seniors and baby boomers filed a bankruptcy or consumer proposal in Canada in 2018. The numbers for Ontario are... Read more »
Seniors Turning To Payday Loans A Scary Trend
In a study released by Hoyes Michalos, we know that payday loans are a big problem. This is especially true for people who are already carrying high levels of credit card and other revolving debt.... Read more »
Retired Widower Uses Credit to Cope With Grief
Insolvency can happen at any stage in life. Debt has no standard face or age. This unfortunate reality was recently realized by one of our clients who I’ll call Jack to protect his privacy. Jack... Read more »
Whitby Senior Happy To Avoid Bankruptcy
Norma (not her real name) was struggling to get by on her pension. As often happens, she ended up using credit to help makes ends meet. Eventually she was ashamed to find that she had accumulated $12,000 in... Read more »
Seniors – A Small Group Carrying High Risk Debt
By the time you approach retirement age you should be out of debt, right? That’s the conventional wisdom, because after a life of working you have paid off your mortgage and other debts, and accumulated... Read more »
Senior With Tax Debts. A Kitchener Bankruptcy Story
A situation that we do not like to think about (but is very common in today’s society) is seniors with debts. With the increase in the availability of credit, more and more seniors are retiring... Read more »