Filing Bankruptcy in Canada

How to End Harassing Debt Collection For Good It’s no secret that debt collection companies will work extremely hard to collect the money that is owed to their clients. Each dollar they can squeeze out of you will be money in their own pocket, and this gives them a good reason to chase you up. … Read more

Money isn’t the most important thing in this world, but the burden of money worries on a person’s life instantly highlights the need to seek financial security. Without this stability, the link between your money and your mental health becomes impossible to escape. In short: health and wealth go hand in hand. Paying greater attention … Read more

Guide to Bankruptcy Court Bankruptcy court is not like other kinds of court which you often see in criminal cases. In Canada, there is a separate court which deals with bankruptcies exclusively. The judge who presides over your case will be trained and educated in the types of hearings that happen and they will also … Read more

Is it Better to Save or Pay Off Student Debt? So, you’re a recent grad with a great education, a well-paying job with opportunities to grow, and you’re ready to pay back your student loans. After all, who wants that debt when it could be quickly paid off? But, is that the best option? There … Read more

When you face a debt issue, the first thing you want to do is to get back control. Therefore, it makes sense to consider sorting things out by yourself. Regaining control over your financial situation can happen in more than one way. You can get in touch with a professional debt relief advisor who can … Read more

5 Steps You Have to Take to File for Bankruptcy Are you thinking about filing for bankruptcy in Canada? Then it’s vital that you know the bankruptcy process. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation To ensure that you’re in the know … Read more

What Happens After Bankruptcy? Being cleared of bankruptcy is a life-changing moment. After struggling with debt and the bankruptcy process, you can finally begin to move forward with your life and build a new financial future. Understanding what happens after bankruptcy and what you can do next can help you prepare for the next steps. … Read more

Debt Forgiveness in Canada: Everything You Need To Know Many Canadians struggle with debt. In fact, the average Canadian household is over $20,000 in the red without even taking mortgage debt into consideration. As the cost of living continues to rise, yet wages seem to stagnate, many Canadians simply aren’t able to save or budget … Read more

When your household takes on significant debts, your creditors may take steps to ensure that they take what they’re owed from you. Whether you’ve been making good on your scheduled repayments or not, creditors can garnish your salary, taking their repayments directly from your monthly pay before you receive it. This is perfectly legal and … Read more

Budgeting and Balancing Living Expenses Did you know that the average household debt in Canada comes to an eye-watering $20,759? That’s not even counting mortgage debt. With this in mind, it’s easy to see how so many Canadians feel that they are forced to pile debts on top of other debts to get by. If … Read more

While the cost of living may vary from one city to another, Ontario is one of the most expensive provinces in Canada. As such, it stands to reason that (along with Alberta and British Columbia) it holds 3 out of every 4 dollars’ household debt in the country. As the cost of living rises many … Read more

Personal Bankruptcy in Ontario Though there isn’t a legislation effective that dictates how many times you can declare bankruptcy, the ramifications are worse with each subsequent time you file. The key consideration is that it takes more time and is more expensive each and every time you file. Though the first bankruptcy can discharge within … Read more

How Does Bankruptcy Impact Co-signed Debts? A common inquiry amongst cosigners, many wonder what will happen to debt for which they cosigned in the event that they claim bankruptcy in the province of Ontario. Typically, someone who cosigns debt does so for someone in their family or for a lifelong friend. The possible ramifications for … Read more

What Happens to a Person’s Debts When They Die? A common inquiry is what occurs with a person’s debt in the event of death. The good news is that debt is not an inherited expense which means that your debt does not pass down to your ancestors. You are not liable for a person’s debt … Read more

Should I Cash in My RRSPs if I’m in Debt? If you are in debt and struggling to make payments, then you are probably looking at courses of action which you can take. These may include liquidating your RRSP funds to assist in avoiding bankruptcy. However, this is not always the best route. Need Help … Read more

Bankruptcy and Workplace Safety Debt When considering your options with respect to the Workplace Safety and Insurance Board (WSIB), there are some key things to think about. The board itself is where business operators pay into a centralized insurance fund. The premium amounts show up on the payroll and are managed in terms of accidents … Read more