Leamington
Gordon Sands What are “Dangerous Debts”? There are some high-risk debts which are best to avoid. Many with subpar credit who wish to make purchases find themselves in precarious situations related to credit arrangements. One common issue is purchasing furniture through a rent to own arrangement. There are many stores which don’t perform credit checks or even … Read more
When a family member or close friend entreats you for assistance in getting credit through your co-signing a loan, there are some key things to keep in mind. It could be a matter of getting a joint arrangement with your partner or simply co-signing a loan for a friend. Regardless, there are three key facts … Read more
Mutual Funds in a Bankruptcy Bankruptcy is an overwhelming concept, resulting in a plethora of questions. Many wish to understand what they can expect to lose and retain after filing. It helps to know that there are exemptions in place to allow you to keep certain assets. When you speak with a Licensed Insolvency Trustee, … Read more
Creditors Must Vote to Accept Your Debt Proposal When you file a consumer proposal, your creditors are informed promptly. From there, they have a period of 45 days to reply with their voting results. This results in a waiting period for both you and your account’s trustee. Need Help Reviewing Your Financial Situation? Contact a … Read more
Tax Returns & Bankruptcy Generally speaking, bankruptcy Trustees will inform you that it is prudent to file all tax returns prior to continuing with any bankruptcy proceedings. However, if you wish to know whether you must legally do so, there are some essential things of which to be aware. The first is that filing your … Read more
Calculating Bankruptcy Payments When you calculate the cost of bankruptcy, it is critical to understand all the nuances associated with the process. Individual to every situation, each bankruptcy process is different. The associated cost is determined by the size of their family, overall assets, expenses, and income on a monthly basis. The three different approaches … Read more
RRSP Withdrawals & Bankruptcy Payments Twelve years ago, the Canadian Parliament updated the Bankruptcy and Insolvency Act to allow for the protection of retirement savings plans (RRSPs). Now, any funds contributed before the year preceding bankruptcy filings are exempt from seizure. The goal behind this decision was to enable those in dire financial straits to … Read more
Bankruptcy Protects You From Debt Related Claims If you have already filed your bankruptcy proceedings and someone filed a claim against you, there are a few specifics to consider. The first is what’s referred to as a Stay of Proceedings. Immediately after you file either a bankruptcy or a consumer proposal, this is effective. It … Read more
Most Bankrupts Are Able to Keep All of Their Belongings Perhaps one of the most frequent inquiries relating to bankruptcy, it is important to get a thorough understanding of how bankruptcy actually works, and what you can keep when filing. In a state of bankruptcy, your assets become the legal property of your representing Licensed … Read more
Leased Cars in a Bankruptcy If you are experiencing financial challenges, it is especially overwhelming to consider the fate of your assets. It can be difficult to identify which are safe from seizure and what solution fits your situation best. A good solution is to speak with a Licensed Insolvency trustee in Canada. They can … Read more
What Should I Know About Debt? If you are in dire financial straits as a result of debt, are you prepared with all the necessary information? Do you know the necessary legal steps to handle matters? Are you aware of all available methods of recourse? Most Canadians aren’t fully informed about all their debt management … Read more
Using RRSPs to Pay Off Debt Multiple households consider liquidating their investments, things like an RRSP or RRIF fund, in order to pay off your debts and manage their finances. Despite appearing like a good direction, there are many reasons why this will not serve you in the long run. Need Help Reviewing Your Financial … Read more
Filing a Second Bankruptcy or Consumer Proposal: Is it a Good Idea? The decision as to whether a second bankruptcy or consumer proposal is better depends entirely on the individual financial circumstances. It is actually fairly common to consider the possibility of filing for a second bankruptcy. Nonetheless, there are ramifications of filing multiple bankruptcies. … Read more
Bankruptcy & Taxes Owing The goal of the Canada Revenue Agency is to determine and go about collecting the proper amount of taxes from people and companies in the country. However, based on circumstance or the size of your tax bill, it can happen that you are unable to pay for your tax debt. In … Read more
Are all Debts Discharged in Bankruptcy? Unfortunately, No. During times of economic hardship, many look to bankruptcy as a way to escape all of their struggles. The important thing to know and understand is that bankruptcy doesn’t give you a fresh start from scratch. There are very real ramifications to committing to a bankruptcy filing. In … Read more
Credit Counselling Assistance in Canada Debt can affect your life in a significant way. If you’re finding it hard to meet your minimum payments or your debt is weighing on you, you need debt solutions that will allow you to make a change. Credit counselling services in Canada are one of the options that you … Read more
One of the reasons that many people are tempted by payday loans is their accessibility. Online payday loans can be applied for and approved extremely quickly. You can have the money that you want to borrow in your bank account in a day, or even in just a few hours. However, this accessibility means that … Read more
Many people ask us whether they should get a debt consolidation loan or file for bankruptcy instead. Although bankruptcy is sometimes the best option, there are many situations when a debt consolidation loan is better than filing bankruptcy in Canada. If you qualify for a debt consolidation loan and you are confident that you are … Read more
You may have heard the term insolvency before, especially if you have been considering different debt relief options, but what does it mean to be insolvent? In basic terms, if a person is insolvent, it means that they are unable to meet their debt obligations or their debts far outweigh your assets. The official definition … Read more
Working With a Debt Consultant to Solve Debt Problems It’s easy for debts to get out of control and if you find yourself in a difficult position, you may consider hiring a debt consultant. They promise to help you manage your finances and find a way out of debt by negotiating with creditors and finding … Read more
