Insolvency Blog

Including 407 ETR Debt in a Consumer Proposal or Bankruptcy Commuting costs can get expensive when you live near the city. Find out how you can get back in the driving seat Owning and running a car can get expensive enough without paying for the kilometres you drive too. Taxes, repair bills, the cost of … Read more

Helping Seniors Getting Out of Debt Dealing with debt can be tricky at any age but it can be particularly troublesome to be faced with money worries as a senior. At a time when you should be enjoying a stress-free retirement, mounting debt can have a substantial impact on your quality of life. If you’re … Read more

Being creditor proof has a big impact on how you choose to manage your debts. If your assets are protected from creditors, it may mean that you can avoid filing for bankruptcy. Although bankruptcy remains an option for people whose finances are creditor proof, it simply may not be necessary in order to resolve your … Read more

What Powers Do Creditors in Canada Have? If you’re struggling to manage your debts, there’s no doubt you’ll be feeling stressed and worried about your situation. In fact, ‘what can creditors do if I can’t pay?’, is one of the most common questions regarding debt management. Many people assume that they’re the only person having … Read more

Preparing Your Finances For Maternity Leave Expecting a child can be an exciting time, but it’s also a situation that could leave your financial situation in ruins if you’re not careful. Having a child can incur a lot of expenses, but it also means you have less time to spend actually working. This eventually results … Read more

What is Going Into Receivership? What it means to ‘go into receivership’ in Canada and how Bankruptcy Canada can help guide you through the process. Receivership has a unique definition within the context of Canada’s Bankruptcy and Insolvency Act. Although you may have heard that if a company declares bankruptcy that they ‘go into receivership’, … Read more

How Does The Seize or Sue Law Work in BC? Car dealers know that the vast majority of people do not have cash on hand to buy vehicles outright. For that reason, they work with lenders that provide credit to buyers, giving them the capital they need to meet the full cost. Car loans have … Read more

How to Curb Overspending Although many people start each year off with the right intentions, often they find themselves overspending. An inevitable situation, it’s something that happens despite their best efforts to prevent it from happening. If you’re finding yourself in this type of situation, overspending when you should really be saving, then it’s vital … Read more

Can My Wages Be Garnished if My Car Has Already Been Repossessed? If you are wondering what happens when your creditor seizes the asset held as collateral, then threatens garnisheeing your wages, you are not alone. During difficult economic times, an increasing number of people are faced with these challenges. First, you ant to know … Read more

It is no secret that being in debt is no longer uncommon in today’s world. With ever increasing expenses catering to our needs and desires, even a person with a respectable income becomes debt laden. A desire which many harbor, is to own a home and consequently, a question arises in their minds – “Is … Read more

Rebuilding Credit in Canada 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 is changing your lifestyle, … Read more

Canadian 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 Trustee. … Read more

The objective of the Financial Literacy Project is to provide resources to help Canadians become more financially literate. The Government is committed to working with stakeholders to develop a national strategy for financial literacy that takes into consideration ways to meet the needs of Canadians at different stages of their lives. The Government launched phase one … Read more

Ways To Survive Without a Credit Card The use of cash is on the decline in Canada, and many people in the country would agree that it is necessary to have a credit card in today’s modern society. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule … Read more

Learn About How The Insolvency (Bankruptcy or a Consumer Proposal) Process Works Understanding the insolvency process will help you understand who does what in a bankruptcy and a consumer proposal. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation The roles of each party … Read more

What If I Work for one of my creditors and want to go Bankrupt? Speak with a Trustee about how working for a creditor will impact your bankruptcy or consumer proposal. Working for one of your creditors can make going bankrupt or making a proposal tricky. Need Help Reviewing Your Financial Situation? Contact a Licensed … Read more