Most Recent 'Insolvency Blog' Posts

How to Rebuild Credit in 5 Simple Steps Many people find rebuilding their credit way tougher than building it from scratch. They can’t be blamed. This process is very long and tiresome. Rebuilding credit is not an overnight process and takes a lot more time than you would have ever anticipated. The most difficult part […]

What is Receivership? Consumers or businesses that are unable to pay back their debts and find themselves in an insolvency situation can either offer a Consumer Proposal to their creditors, or file for bankruptcy. In Canada, these procedures need to be filed with the Office of the Superintendent of Bankruptcy (OSB) by a Licensed Insolvency […]

How to Stop Wage Garnishment in Canada Michael works in a manufacturing facility. His wife stays home with their three-year-old son. Michael takes home $2,175 every two weeks – that’s his take-home salary after tax cuts. Unfortunately, Michael has a couple of credit cards that he hasn’t paid. One evening, Michael’s boss calls him into […]

Foreclosure vs Mortgage Bankruptcy in Canada When it comes to Foreclosure and Mortgage Bankruptcy, there are some key differences one should be aware of. These differences include the process, timeline and most importantly, the ramifications. To learn more, please continue reading. Foreclosure What is it? When you can’t pay your mortgage, your lender may commence […]