Filing Bankruptcy in Canada

Follow Our Advice on Saving Real Money For a Rainy Day You’ve no doubt read the clickbait headlines lamenting the fact that you could save thousands of dollars every year if you’d just cut out little conveniences here and there from your day. The truth is, enjoying a latte on your way to work or … Read more

Who Will Know About My Ontario Bankruptcy? Depending on your profession, reputation is a major factor in considering bankruptcy. Many wonder whether it becomes a matter of public record when they file for bankruptcy in Ontario. The short answer is that, yes, it does become a part of the public record. This is because bankruptcy … Read more

Debts Not Included in an Ontario Bankruptcy The good news about bankruptcy is that, by the time it is done, most of your unsecured debt will be discharged. Generally, this includes forms of revolving debt like credit cards, loans, credit lines, tax arrears, or any type of payday loan arrangement. However, this is not the … Read more

Air Miles Points in Bankruptcy When it comes to a full-scale financial overhaul, like bankruptcy, it is common to wonder about specifics. One such inquiry is what the fate of your air miles will be after your filing. Due to the expiration and transfer policy of air miles specifically, many wonder what will happen to … Read more

Friendly, Caring, Professional Bankruptcy Help Though bankruptcy as a term is well known, the nuances of the process are often confusing for individuals to figure out. Of course, it is a major process, but with the assistance of skilled financial advisors, it is definitely manageable. An important part of the process is to seek out … Read more

How to Protect Yourself From Creditor Harassment Dealing with creditors is one of the toughest parts of managing debt. Whether the debt is due to a divorce, to a rough time after a job loss, or some other extenuating circumstance, one thing stays the same: creditor harassment is stressful. The majority of harassment comes in … Read more

Filing for bankruptcy can be the right choice if you are struggling to deal with your debts. A Licensed Insolvency Trustee can help you to decide if bankruptcy is the right choice for you so that you can take the best path available. In order to file for bankruptcy in Canada, you must be insolvent … Read more

Should I Help Financially Struggling Employees? Should employers help their employees when they are struggling with financial difficulties? Is it the moral duty of an employer, and does it benefit them to extend a helping hand? Financial stress can have a profound impact on mental health, and therefore on performance and productivity at work. When … Read more

If you have a partner, you might wonder what effect filing for bankruptcy could have on them. And while there are some exceptions to the rule, it’s important to know that when filing in Canada, it won’t directly affect your spouse. Despite certain debts being a joint responsibility, your personal debts are yours. Although many … Read more

If you have to file for bankruptcy, one of the key parts of the process is to sign your bankruptcy documents. But what’s the process that leads up to this? And what happens afterwards? We’re here to guide you. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation … Read more

Payday Loan Debt: Is It Eliminated By Going Bankrupt? Payday loans are often taken on as a form of repaying other existing debts. But by borrowing this money through a payday lender, it’s vital to know that you’re only delaying having to file for bankruptcy and won’t solve the underlying debt. If you’re looking to … Read more

Budgeting & Managing Money For Seniors Once people reach retirement age, many individuals stop working and will rely on their pension plans such as RRSPs and government supplements for money. The trouble is, some of those senior citizens may struggle to live a comfortable life from a financial perspective. If that’s something that worries you … Read more

In Canada, the average debt to income ratio is around 178%. What that means is for every dollar that a Canadian earns, that person will typically owe approximately $1.78. The thing about debt is that it’s not an unusual thing to have; most people will owe some money. But, debt can become a problem when … Read more

You Might be Worried About being Arrested at the Border on Your Return According to recent statistics from Equifax Canada, the average Canadian is around $23,800 in debt, or $72,950 if you include mortgage-related loans. It’s not unusual for Canadians to have some form of debt. But, what happens if you don’t pay your debt … Read more

Money, money, money! While the song by ABBA still rings in your ears, you can’t help but wonder about all the things you could do if you had a little money. Unfortunately, what the song fails to address is what happens to those trying to live life by spending more than they should. Overspending is … Read more

For people who struggle with a debt situation, debt settlement services can provide the relief they need. It is a service dedicated to settling your debts in a way that is manageable and empowers debtors to rebuild their worth. However, as with any debt related service, debt settlement targets specific needs and situations. As such, … Read more

Personal Bankruptcies In Canada Statistics show that personal bankruptcies in Canada are on the rise. If you’re struggling with debt, here’s a useful guide to bankruptcy and some tips to help you get back on track. Recent figures from the Office of the Superintendent of Bankruptcy Canada show that there has been an increase in … Read more

Your Driving License Can’t Be Withheld Because of Bankruptcy The Supreme Court of Canada ruled that debts associated with Section 102 of the Alberta Traffic Act do not apply following discharge from bankruptcy. Alberta Traffic Safety Act not allowed to withhold a license after bankruptcy: What does the ruling mean? The Supreme Court of Canada … Read more