Leamington
Gordon Sands Are Property Taxes Discharged in Personal Bankruptcy? If you’re thinking of filing for personal bankruptcy, you’ll need to ensure you understand every aspect of the process. As one of the most serious forms of debt resolution, bankruptcy can have a major impact on your finances, ability to borrow credit and your professional standing. Although bankruptcy … Read more
The vast majority of people experience financial difficulties at some time or another. Whether you’re struggling to keep a roof over your head, you’ve missed multiple credit card payments, or you’ve got caught up in spiralling payday loans, there is help available. When you’re in need of debt assistance, talking to a Bankruptcy Canada Trustee … Read more
Filing Bankruptcy For Payday Loan Debt Payday loans can be a viable way to resolve short-term cashflow issues but they’re also an easy way to get into debt. As these types of loans typically have high interest rates, it’s easy for your debts to spiral out of control. If you’re considering potential debt solutions, you … Read more
A brief introduction to RESPs RESPs (Registered Education Savings Plans) enable parents or grandparents to save towards their child or grandchild’s education. If you put money into an RESP, the government will boost the fund by adding a contribution. A survey conducted by Ipsos suggests that around 50% of parents of children aged between 14 … Read more
At the start of the process when you file for bankruptcy, you’ll meet with a local Licensed Insolvency Trustee. In this consultation, they will sit and evaluate your finances and suggest a route to take. If bankruptcy is then the way forward, they will talk you through the process (including how much it will cost … Read more
Canada is a country of debtors. So, if you face financial difficulties, you are not alone. In fact, the year-on-year number of consumer insolvencies (bankruptcies and consumer proposals) had increased by 10.6% between January 2019 and 2020. Meanwhile, there has been a noticeable shift towards consumer proposals over the past 5-to-10 years. In fact, the … Read more
When you find yourself falling further and further into debt, bankruptcy offers a potential solution that can enable you to start afresh. While filing for bankruptcy in Canada will bring long-term financial repercussions, it is a path that over 130,000 Canadians will tread this year. If it is deemed the right option for you, BankruptcyCanada … Read more
Bankruptcy should never be the first thing you turn to when clearing debts. Yes, it is a viable option that can leave you debt-free, but you should always see this as the last thing to try. A bankruptcy will stay on your credit report for six years and be a permanent public record. It may … Read more
Nobody sets out to land themselves in debt, and facing financial difficulties is an immensely stressful situation. However, it’s not only the struggle to make ends meet that causes tension. Quite frankly, the ongoing harassments from collection agencies and the threat of court hearings are enough to send shivers down anyone’s spine. Worse still, it’s … Read more
Consumer Proposals have become an increasingly popular form of debt relief in recent times, allowing debtors to avoid filing for bankruptcy in Canada while helping creditors recover a greater percentage of the monies owed. Even at a glance, it’s not hard to see why the process is deemed better than bankruptcy. They have existed for … Read more
In Canada, high debt is the “new normal” and this is a worrying situation to be in. Even though high debt is becoming more and more common, people do not seem to be concerned with the amount of debt that they have and they simply accept it. This means that people are far more likely … Read more
Switching Between Bankruptcy and Consumer Proposal in Canada In Canda, you have two insolvency options: Bankruptcy. Consumer proposal. Both options will help you become debt-free, yet they’re equally suitable depending on the situation. Therefore, deciding between a consumer proposal or bankruptcy is a big decision. Need Help Reviewing Your Financial Situation? Contact a … Read more
What Impacts Does Insolvency Have on Me as a Lawyer? If you’re a lawyer that’s operating in Ontario and you’re struggling with your debt, then you might be looking to file for bankruptcy or a consumer proposal. However, due to the profession you’re in, there are certain implications that come as a result of this … Read more
If you’re struggling financially and you think that the only way forward is to file for bankruptcy, it’s important to seek professional guidance from a Licensed Insolvency Trustee. By acquiring this expert advice, you’ll be taken through the options that are available to you. And while bankruptcy might seem like the only way out of … Read more
If you’re in debt, chances are you’re looking for an effective and efficient way to regain your financial stability. And this is where a consumer proposal comes in. A way of consolidating your debts into one affordable monthly repayment, it allows you to rebuild your credit in as little as three years after being discharged. … Read more
The sad truth about debt is that it doesn’t discriminate. Debt is a problem that can affect men and women of all ages and from all walks of life. As you’ve likely guessed from the title of this page, it even affects senior citizens. According to Statistics Canada, in 2017, people aged 65 or over … Read more
In Canada, you’re presented with many methods to get out of debt. One of these is a consumer proposal, which is a legally binding agreement between you and your creditors. It’s a way for you to formally negotiate new terms and come to an arrangement that makes it easier for you to repay your debts. … Read more
What is a registered consumer proposal in Canada? This may seem like a confusing topic, but it’s more straightforward thank you think. A basic definition of a consumer proposal is that it’s an offering you make to creditors with the aim of paying your debts. Typically, it includes proposing a percentage of your debts that … Read more
Are you lost in a confusion of debt and are looking for help? Befuddled as to the best route out of your financial problems? You are not alone, as this is how many people feel when they consider the debt relief options available. In fact, to the uninitiated, the road to becoming debt-free can seem … Read more
People Are Charging for Bankruptcy Advice. Being in debt can be a complicated and challenging situation—one where you can feel very financially and emotionally vulnerable. In fact, people in this situation often worry about their friends and family finding out about losing valuable assets like homes and business and even having their wages garnished. That … Read more
