Gordon Sands

If you’re thinking about filing for personal bankruptcy, it’s important to know how the process works and what to expect. Although your Licensed Insolvency Trustee (LIT) will guide you through the procedure, it’s helpful to have as much information as possible. There are lots of elements to consider when deciding if bankruptcy is the right … Read more

You may reach out for help and want to know your options when you have more debt than what you can handle or reasonably manage. You likely want to know if bankruptcy is the right solution to your problem. You may be surprised to know that in most cases you’ll hear the answer no. It’s … Read more

Are you suffering from significant financial issues? If so, you should look at all the debt-relief options at your disposal. This includes debt settlements, debt consolidation, budgeting, and even a consumer proposal. If nothing helps, your last option is bankruptcy. You are not alone. Many Canadians have to file for bankruptcy every single year. The … Read more

When filing bankruptcy, you have to disclose different pieces of essential information. This info is vital in determining the terms of your bankruptcy agreement. As such, you may wonder what is disclosed on your bankruptcy application. Understanding what information you should hand over to your Licensed Insolvency Trustee is important as it stops you from … Read more

Is Traffic and Parking Ticket Debt Eliminated by Going Bankrupt? There are many different reasons you can owe money and be in debt. Loans are the most common example: you borrow money, fail to pay it back, and end up in debt. When you owe more money than you can afford to repay, bankruptcy becomes … Read more

When filing for bankruptcy, you may experience something called surplus income. Effectively, this refers to how much money you earn during bankruptcy. There are specific thresholds set that indicate what is considered a comfortable amount of money to live on. If your income is greater than these limits, you will have to make surplus income … Read more

Bankruptcy is a formal process that offers many people a financial lifeline each year. According to the Office of the Superintendent of Bankruptcy Canada, almost two out of every 1,000 Canadians went bankrupt last year. Although individuals get encouraged to consider alternative options such as consumer proposals first, bankruptcy is ideal for those saddled with … Read more

Filing bankruptcy involves completing paperwork that must be filed with the Office of the Superintendent of Bankruptcy. Your trustee is responsible for preparing and filing this paperwork, and ensuring you have signed it. The trustee is responsible for your paperwork and is licensed to handle it all for you. There are several important documents that … Read more

In Canada, bankruptcy must be filed with the help of a Licensed Insolvency Trustee. Although you might think that you can handle the process of filing bankruptcy on your own, you can’t do it without the assistance of a trustee. A trustee gives you advice about debt relief and bankruptcy, as well as alternatives to … Read more

Tips on Surviving a Bankruptcy Filing Making the decision to file bankruptcy is a difficult one. It is usually a last resort when you’re struggling to deal with your debts. It can affect you emotionally, as well as financially, and it can be tough to deal with the process. Many people feel that a large … Read more

Many credit card companies will offer incentives to new customers. These usually come in the form of reward programs, with points that can be redeemed for products and services, and even yearly cash rebates. Then there are those travel cards issued by travel companies that come with air miles, and store cards that gather points … Read more

Many people fall into the debt trap, and as statistics have shown, the number of people becoming insolvent in Canada has increased in recent times. Of course, not everybody in debt eventually files for bankruptcy, as it is possible to remedy the situation. But it is still important to have a closer look at the … Read more

Most people have heard the term, ‘interest rate’, and most adults are likely to be paying interest on their accounts, but we don’t always realize the impact is having on our financial situation. When you borrow money, it’s normally on the basis that you agree to pay it back with interest. The amount of interest … Read more

Traditionally, people felt embarrassed or ashamed when they experienced financial problems. In fact, people rarely talked about any cash flow issues or financial difficulties they experienced. Certainly, filing for bankruptcy wasn’t something that was openly discussed in social circles or amongst work colleagues. As society evolved, however, people became more open to the idea of … Read more

If you’ve taken out payday loans and you’ve been unable to repay them, your debts may have increased rather rapidly. The high interest rates associated with payday loans means that people can often get into unmanageable debt quickly when they get caught in this type of debt cycle. When you’re struggling to resolve your financial … Read more