Leamington
Gordon Sands Most people who get in touch with our Licensed Insolvency Trustees believe that debt settlement and consumer proposal are interchangeable terms. In reality, a consumer proposal is one type of financial plan that can settle your debt. It is a legally binding document that provides debt relief to an individual. However, not all programs that … Read more
Follow Our Advice on Saving Real Money For a Rainy Day You’ve no doubt read the clickbait headlines lamenting the fact that you could save thousands of dollars every year if you’d just cut out little conveniences here and there from your day. The truth is, enjoying a latte on your way to work or … Read more
Options For Consolidating Student Debt About 49% of Canadian students have to take out student loans and graduate from university with an average of $15,300 in debt. In addition, 20% of students have student loan balances exceeding $25,000. More than $28 billion in student loans are owed to the Government of Canada, which doesn’t even … Read more
Debt Relief For Seniors: What Are My Options For Getting Out Of Debt? Many people in Canada are not prepared for the financial costs of retirement. About 19% of Canadians have less than $50,000 saved for retirement, while 32% of people nearing the age of retirement (45-64) have not saved a single penny for retirement. … Read more
Does OSAP Impact My Consumer Proposal? Short for the Ontario Student Assistance Program, it is a major component of many household financial considerations. What many wonder is whether the OSAP will impact the consumer proposal – and vice versa. As a provincially and federally funded program, there are special considerations to take when including this … Read more
Who Will Know About My Ontario Bankruptcy? Depending on your profession, reputation is a major factor in considering bankruptcy. Many wonder whether it becomes a matter of public record when they file for bankruptcy in Ontario. The short answer is that, yes, it does become a part of the public record. This is because bankruptcy … Read more
Will My Income Tax Refund Be Seized By The CRA? Especially for low to middle income households, the rights of the CRA to set off your income tax return can be a major concern. Essentially, this is when a refund owing to the consumer in a previous income tax year is seized and applied towards … Read more
Debts Not Included in an Ontario Bankruptcy The good news about bankruptcy is that, by the time it is done, most of your unsecured debt will be discharged. Generally, this includes forms of revolving debt like credit cards, loans, credit lines, tax arrears, or any type of payday loan arrangement. However, this is not the … Read more
Air Miles Points in Bankruptcy When it comes to a full-scale financial overhaul, like bankruptcy, it is common to wonder about specifics. One such inquiry is what the fate of your air miles will be after your filing. Due to the expiration and transfer policy of air miles specifically, many wonder what will happen to … Read more
Stopping Collection Calls With a Consumer Proposal One of the biggest values for stressed and indebted consumers is the ceasing of collection calls upon filing consumer proposals. These frequent communications can impact both mental and physical welfare of the consumer (who is already facing financial difficulty). With consumer proposals, your collection calls should stop within … Read more
Can I Continue as a Real Estate Broker if I Go Bankrupt / Make a Consumer Proposal? While many consider bankruptcy from a personal standpoint, there are also professional ramifications to take into account. A common concern is what impact a bankruptcy filing will have on a real estate license in the province of Ontario. … Read more
Friendly, Caring, Professional Bankruptcy Help Though bankruptcy as a term is well known, the nuances of the process are often confusing for individuals to figure out. Of course, it is a major process, but with the assistance of skilled financial advisors, it is definitely manageable. An important part of the process is to seek out … Read more
How to Protect Yourself From Creditor Harassment Dealing with creditors is one of the toughest parts of managing debt. Whether the debt is due to a divorce, to a rough time after a job loss, or some other extenuating circumstance, one thing stays the same: creditor harassment is stressful. The majority of harassment comes in … Read more
How to Avoid Being Scammed By a Debt Settlement Company It’s a sad fact. When you’re having debt problems, not everyone who claims to want to help is genuine. Many organizations are simply out to make a fast buck from your misfortune. Every year, we help thousands of Canadian debtors who report past experiences ranging … Read more
Filing for bankruptcy can be the right choice if you are struggling to deal with your debts. A Licensed Insolvency Trustee can help you to decide if bankruptcy is the right choice for you so that you can take the best path available. In order to file for bankruptcy in Canada, you must be insolvent … Read more
How Will My Consumer Proposal Impact My Work? A consumer proposal offers an alternative to bankruptcy for people who have debts that total no more than $250,000 (excluding debts secured by a residential property). A consumer proposal allows you to retain all of your assets, unlike when you file bankruptcy. It is administered by a … Read more
When you are dealing with a number of debts, consolidating your debts is one option that often makes them more manageable. By consolidating your debts, you can turn several different payments into a single payment, which makes it easier to manage and pay what you owe. There are various ways to consolidate your debts, including … Read more
What is Contingent Debt and How Can I Manage It? Usually, when debt is discussed, it is debt that already exists. However, there are times when a future debt needs to be taken into account. Contingent debt is debt that will most likely occur in the future. For example, a person might be facing legal … Read more
Should I Help Financially Struggling Employees? Should employers help their employees when they are struggling with financial difficulties? Is it the moral duty of an employer, and does it benefit them to extend a helping hand? Financial stress can have a profound impact on mental health, and therefore on performance and productivity at work. When … Read more
If you have a partner, you might wonder what effect filing for bankruptcy could have on them. And while there are some exceptions to the rule, it’s important to know that when filing in Canada, it won’t directly affect your spouse. Despite certain debts being a joint responsibility, your personal debts are yours. Although many … Read more
