Leamington
Although most Canadians have some form of debt, we don’t always know when we need help managing our finances. If you’ve found yourself wondering, ‘do I need help with my debts?’, then it’s highly likely you do. While it’s easy to bury your head in the sand and avoid thinking about mounting debt, this won’t … Read more
Information Listed On Credit Reports Most people are aware that they have a credit file, but few people know what’s on it. Knowing what information is on your credit report is important, particularly if you want to apply for credit or if you’ve been turned down for credit. However, accessing this information isn’t always straightforward. … Read more
It’s easy for debt to spiral out of control. Whether you lose control of your spending or circumstances lead you into hardship, your debt can soon get out of control, leaving you unable to afford it. Not everyone knows where to get help with debt, or what options are available. If you’re worried that your … Read more
Consumer Proposal FAQs If your debts are spiraling out of control, it’s time to take action. There are many ways you can tackle your debt, and in Canada, a consumer proposal could help you deal with unmanageable, significant debts. Consumer proposals are unfamiliar to many people, but they can be a useful way of handling … Read more
What is The Debt Limit For a Consumer Proposal? Filing a consumer proposal is often a good way to avoid filing for bankruptcy if you owe a substantial amount of money. Consumer proposals allow you to come to an agreement with your creditors so you can make lower monthly payments over a period of time. … Read more
Surplus Income & Bankruptcy in Canada In 2016, nearly 126,000 Canadians either filed for bankruptcy or a consumer proposal. When most people think of what a bankruptcy actually is, the words ‘surplus income’ probably don’t come to mind. But, it’s important to know what a surplus income is, and how it can impact your bankruptcy. … Read more
Traveling and Bankruptcy – When Do I Need To Be in Canada? If you’ve filed for bankruptcy, or you’re considering a consumer proposal, you might be worrying about whether your financial situation will affect your ability to travel. This guide has all the answers you’re looking for. It’s common for people who are thinking about … Read more
Debt can have a crippling effect on your life, but you don’t have to suffer forever. Many people have found the help they needed from debt specialists up and down the country, and here at Bankruptcy Canada, we have supported the needs of Canadians for over 20 years. After reading the case story below, the … Read more
What Are The Early Warning Signs of Financial Problems? From time to time, people can get into financial trouble. Unfortunately, working out whether you have money problems isn’t always easy, especially if nobody ever trained you in financial matters. Debt is quite deceptive at the start. When you owe a small amount of money, interest … Read more
Every year, thousands of Canadians find themselves buried under a mountain of unsustainable debt, often through no fault of their own. In situations like these, they need qualified, accredited professionals who can reduce their debts through legal facilities, like bankruptcy. But who are these professionals? And how can they help you out of a financial … Read more
Bankruptcy & Your Employment When filing for bankruptcy, you may worry that it will have knock-on effects on your employment. Bosses, you fear, might view it as a slur on your record and deny you job opportunities. In general, filing for bankruptcy should not affect your employment situation at all. In many cases, there is … Read more
Interest Rates on Debt Consolidation Loans Interest rates on unsecured forms of borrowing, like credit cards and personal loans, are often double-digit. It is not unusual for people to pay creditors over 30 percent per year on these loans, with some short-term loans bearing an annualized rate of more than 100 percent. Given these high … Read more
Filing Canadian Bankruptcy From a Different Country Like many countries around the world, Canada has strict rules and laws when it comes to finances. You will sign complex contracts when you take on debt, binding you to agreements that dictate how much you have to pay back each month. Of course, though, these contracts will … Read more
Should I Use My Home Equity to Consolidate Debts? Debt consolidation often involves taking out a loan to pay back multiple different creditors. This is usually subject to your credit score and requires you to have at least an acceptable credit history in order to apply for a debt consolidation loan. Once you’ve calculated all … Read more
Can 407 ETR Debts Be Discharged in Bankruptcy or a Consumer Proposal? In 2015, the Supreme Court of Canada ruled that debts owed to 407 ETR Highway in Canada can be discharged when claiming bankruptcy or in a consumer proposal. The Supreme Court decided that federal bankruptcy law is paramount to provincial legislation, meaning that … Read more
What Debt Solutions Are Available in Canada? According to a recent survey published in November 2019 by the Manulife Bank of Canada, 2 in 5 Canadians don’t expect to escape debt in their lifetime. What is equally worrying is the fact that almost half of respondents, 45%, say their spending has increased faster than their … Read more
Powers Collection Agencies Have in Canada Creditors don’t like waiting for late payments. While some may be more understanding or patient than others, most will pass your case to a collection agency if you fail to address the situation. Collection agencies can cause a lot of stress to debtors as they get in touch to … Read more
Alternatives to Bankruptcy For Those That Cannot Go Bankrupt Many debt relief programs have rightly become the equivalent of the Monopoly get out of jail card in the financial world. Ultimately, the clue is in the name. A plan that offers to relieve individuals from their debts provides a fresh financial start. For individuals who … Read more
A Guide To Debt Management Programs Juggling a lot of high-interest debt can be a challenge to say the least. It will create a lot of stress on your budget and you may even find that you experience insolvency. If minimum payments do not seem to be working and you are unable to get ahead … Read more
Filing Bankruptcy In Ontario – What You Should Know Filing bankruptcy is a way to get rid of your debts when you are having problems paying them. By surrendering your assets, you can repay some of your creditors and have your debts discharged. While bankruptcy is not without consequences, it can be the best option … Read more
