Leamington
Gordon Sands Filing Bankruptcy & Student Loans One of the most common causes of debt, student loans are subject to a unique set of rules when it comes to bankruptcy. The first important thing to know is that you must have been out of school for at least seven years to file for bankruptcy – if you … Read more
Credit Counselling & Financial Challenges A great deal of both businesses and consumers have difficulties when it comes to bill payments. Especially during periods of large-scale economic hardship, many reach for lines or credit or credit cards to manage existing debt. When credit is used to manage daily expenses, monetary issues escalate quickly. Often, the … Read more
Consumer Proposals & Sponsorship If you were born in a different country and are here on a sponsorship, a common concern is whether your status will be impacted by a consumer proposal. Another common worry is whether filing a consumer proposal can result in an adverse impact on the ability to provide sponsorship for others … Read more
What Happens After My Proposal is Over? Consumer proposals offer those in debt the opportunity to address the amount they owe to creditors under new terms. The completion of these proposals is represented by the last payment made per the arrangement. Proving Completion Once you issue this final payment, your financial representative administrating the proposal … Read more
Length of a 2nd Bankruptcy According to bankruptcy regulations in Canada, the shortest time for an initial bankruptcy is a period of nine months. For second bankruptcy occurrences, the timeline is far longer and lasts for at least two years. In the event that you have supplemental revenue, the bankruptcy can extend for another twelve … Read more
Canadian Debt Repayment Solutions: What Are Your Options & Which Is Best For You? Many Canadians today are facing an enormous amount of debt, for almost as many different reasons as there are individuals. No two cases are precisely the same, and consequently each person’s circumstances must be looked at through their unique lens. In … Read more
Ensuring Your Consumer Proposal Is Complete & Gets Approved Financial difficulty is a huge stressor for many Canadians and filing a consumer proposal could be a consideration. It happens frequently right across the country, for all kinds of reasons — job loss, illness, divorce — just to name a few. If you’re bewildered by the … Read more
What To Consider Before Making The Leap You’ve got a mountain of debt, perhaps because you’re simply being too free with your credit cards, or travelling more often than your budget truly allows, or opening your wallet every time the kids need help. Whatever the reason, debt has a way of mounting up quickly and … Read more
One thing is certain about debt. Even if you ignore it, the debt will not go away. The only responsible thing to do is find a reasonable way to manage your debt so it doesn’t overcome your finances. The best way to do this is with continual assessments of your financial wellbeing. Basically, if you … Read more
Eliminating Tax Debt: CRA & Bankruptcy Decisions in Court Understanding how to manage debt is one of the most important financial exercises you can do to benefit yourself and your future. There are many different debt origins, including credit cards, mortgages, and car loans. An extremely common source of debt that doesn’t get much mention … Read more
What Age Can I File For Bankruptcy? Regardless of age, financial issues are a common concern. Individuals as young as 18 can be subject to bankruptcy under Canadian law. Though the financial decision of bankruptcy is common amongst all age groups, generally younger individuals have less opportunity to accrue financial experience, and are therefore more … Read more
Essentially, the term insolvency refers to the inability to pay debt. This means that as your bills become due and payable, you lack the funds to pay the amount owing. Businesses are also subject to being insolvent. In these situations, it means that your company is no longer capable of paying out debts per the … Read more
Your Spouse Is Filing For Bankruptcy Sometimes couples face a dilemma when one spouse is struggling financially, but the other is steady, or even flourishing. If the spouse in trouble decides to file for bankruptcy, the other panics, wondering if and when their credit rating will be ruined, or whether their assets might be seized, … Read more
In October 2019, Canadians filed the highest number of personal insolvencies in a decade, including both bankruptcies and proposals. Consumers file for bankruptcy for a number of reasons, allowing them to clear their unsecured debts. Canadians from every walk of life may consider bankruptcy to help them out of a difficult financial situation, but it’s … Read more
We grow up listening to myths and legends. While stories and tales can captivate our imagination, financial myths and misconceptions are a very different proposition. Money myths can cause confusion and they may also result in making poor decisions. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation … Read more
Many of us will spend hours reading reviews and comparing products online when we shop for electrical items or home appliances, but when it comes to mortgages and credit cards, we can be too spontaneous. While over 80% of people now read online reviews before purchasing products, consumers may not be aware that it’s possible … Read more
Statistics show that consumer debt is increasing in Canada. While many people are able to keep up with mortgage, rent and credit card payments, some find themselves in a situation where they can’t cover costs. If you’re finding it tough to make ends meet, and you’ve missed repayments or bills, you could start receiving calls … Read more
A recent survey suggested that two in five Canadians believe they will never be free from debt. The vast majority of people owe money, but there are very different levels of borrowing, and people react differently to being in a potentially sticky financial situation. There is no universal solution for getting out of debt, but … Read more
Like the vast majority of countries in the western world, Canada is fast on its way to a debt crisis. In the fifty-three years since Statistics Canada began tracking the issue, debt problems have increased every year bar one. And, after further debt increases in the fourth quarter of 2019, the average Canadian household faces … Read more
Bankruptcy might seem like a dirty word but, for many Canadians, it can be the best-case scenario. After all, unlike debt solutions with high interest and ongoing terms, bankruptcy is a fresh financial start. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation It … Read more
