Are CERB Repayments Included in Bankruptcy?

Bankruptcy: Will It Cover CERB Repayments? The uncertainty brought by the global pandemic led to the introduction of the Canada Emergency Response Benefit (CERB), providing financial relief to many Canadians. However, several individuals are now facing the daunting task of repaying these benefits, leading to the crucial question, Are CERB Repayments Included in Bankruptcy? The … Read more

Are Canadians Reckless Spenders? A New Study Says We Are

A Deep Dive Into Canadian Spending Habits: An Eye-Opening Study An in-depth look at Canadian spending habits. A groundbreaking investigation from the Certified General Accountants Association of Canada (CGA) reveals that Canadians rank among the most extravagant spenders globally, a fact that has shocked many. Is the perception of Canada’s fiscal prudence a mere facade? … Read more

Are Bankruptcy Fees Tax Deductible in Canada?

Bankruptcy Payments and Tax Deductions Introduction The question, “Are bankruptcy fees tax deductible in Canada?” is a common query often posed to us. This article aims to elucidate the tax implications of bankruptcy fees in the context of various Canadian insolvency proceedings. It’s essential to note that we are Licensed Insolvency Trustees, not income tax … Read more

Are Bankruptcies Part of the Public Record in Canada? Who Will Find Out I’ve Gone Bankrupt?

Transparency in Financial Matters: Who Can Find My Bankruptcy in Public Records? Financial adversities may lead individuals to the brink of bankruptcy, a situation that many deem as a personal and economic failing. However, the reality reveals a different picture. Bankruptcy, in fact, can provide an escape route from the burden of overwhelming debt, offering … Read more

Anyone Can Go Bankrupt

The Unspoken Truth: Bankruptcy Knows No Bounds We’ve all heard the aphorism, “Keeping up with the Joneses.” It encapsulates the desire to match the material possessions and status of our neighbors. But, often hidden beneath the surface of these opulent lifestyles is a harsh reality – debt. The truth is, anyone can go bankrupt. “A … Read more

A Comprehensive Guide to Bankruptcy and Mortgage Foreclosure

Understanding How Bankruptcy Impacts Mortgage Foreclosure The world of personal finance can be a labyrinth of complex terms and processes. In this comprehensive guide, we will navigate the uncharted waters of bankruptcy and mortgage foreclosure, two terms that often stir anxiety among homeowners. We’ll dissect the differences between these legal proceedings, discuss how they can … Read more

How Bankruptcies Work in Canada

Understanding Bankruptcy: A Guide on How Bankruptcies Work in Canada Bankruptcy is often perceived as a life-altering event signifying financial failure. However, it’s crucial to understand that bankruptcy can be a lifeline for those drowning in debt. It offers a chance to wipe the slate clean and start anew. In this comprehensive guide, we will … Read more

A Guide To Starting An Emergency Fund

A Comprehensive Overview Of Starting An Emergency Fund The common adage, “save for a rainy day,” isn’t just a folksy saying—it’s a crucial financial principle. However, it seems that many of us have forgotten its importance. A quick glance at your savings account might reveal that your last surplus $20 went towards a car payment, … Read more

5 Warning Signs You Have Debt Problems

Identifying the Red Flags: 5 Warning Signs You’re Wrestling with Debt Debt, like a stealthy predator, often creeps upon us unnoticed. It’s only when it has you firmly within its claws that you realize the gravity of your situation. If you’re wondering whether you’re sinking into a financial abyss, here are the 5 warning signs … Read more

5 Ways To Fight The Inflation And Affordability Crisis

5 Effective Strategies to Counteract Inflation and Affordability Crisis The rising cost of living has become a pressing issue worldwide, creating an affordability crisis for many. According to a recent Affordability Index released by BDO, a significant percentage of Canadians are grappling with the challenge of stretching their earnings to cover basic needs, leading to … Read more

6 Reasons Bankruptcy Is Not an Easy Way Out of Debt

Deciphering the Complexities of Bankruptcy: 6 Crucial Insights Financial turmoil can often push individuals towards the brink of bankruptcy. However, declaring bankruptcy is not a simple escape route from debt, especially in Vancouver, BC. This article aims to highlight the complexities and potential drawbacks that can arise while filing for bankruptcy. Understanding Bankruptcy: A Brief … Read more

7 Things to Know About Divorce and Debt

7 Vital Insights on Divorce and Debt: A Comprehensive Guide When marriages dissolve, financial complications often follow. Understanding the complex intertwining of divorce and debt is crucial for navigating this challenging period. This guide will enlighten you on the 7 things to know about divorce and debt, ensuring you are well-informed and prepared. 1. Distinguishing … Read more

8 Money Mistakes That Will Keep You Broke

8 Financial Blunders That Can Lead to Money Problems Do you understand the 8 Money Mistakes That Will Keep You Broke? The path to prosperity is often littered with financial pitfalls. Here, we delve into eight common yet avoidable financial blunders that can lead you into economic hardship. 1. Relying on Chance to Fix Your … Read more

9 Reasons to File a Consumer Proposal instead of Personal Bankruptcy

Reasons to Choose a Consumer Proposal For Debt Relief and Not Bankruptcy Dealing with debt is not an easy journey, and it’s often a path riddled with difficult decisions. However, after having assisted countless individuals with their financial obligations, we have unraveled the most common reasons why people lean towards filing a Consumer Proposal over … Read more

5 Questions To Ask When Considering Bankruptcy

Questions To Ask Your Trustee Before Deciding on Bankruptcy Contemplating bankruptcy can be a daunting process. With this guide, we’ll help you probe the essential questions that need to be answered to make an informed decision. Here are the 5 questions to ask when considering bankruptcy. 1. What is the sum total of my debt? … Read more

5 Reasons Not to Declare Bankruptcy

Exploring the Downside: When Declaring Bankruptcy Might Not Be For You Often, when individuals are grappling with overwhelming debt, they contemplate the idea of declaring bankruptcy. It may seem like the only way out, a fresh start, a clean slate. However, this financial manoeuvre is not always the ideal solution. Bankruptcy is accompanied by a … Read more

5 Step Plan to Debt Reduction and Better Budgeting

A Comprehensive 5-Step Plan to Debt Reduction and Better Budgeting Effective Debt Reduction and Budgeting Plan Struggling to keep pace with your loan and credit card payments can make you feel helpless. Fortunately, there are tried-and-true debt reduction strategies and budgeting practices that can empower you to wipe out your debt and achieve financial independence. … Read more