Can Unsecured Creditors Take My Car If I Don’t Pay My Debt?

Can Unsecured Creditors Take My Car If I Don’t Pay My Debt?

"Can Unsecured Creditors Take My Car If I Don't Pay My Debt" is a concern that many individuals struggling with debt have. Your car loan is a secured debt, and if you do not pay your secured loan your secured creditor - in this case

The Moneris Metrics Quarterly Report for the year 2016

The Moneris Metrics Quarterly Report, for the fourth quarter of 2016 was just released.  The percentages cited are derived from actual sales volumes — the dollar values of credit and debit card transactions being processed by Moneris merchants — compared with sales volumes from the

Directors’ Personal Liability for Business Debts. Statutory Debts and Personal Gurantees.

Directors Personal Liability Business Debts:  When a corporation fails the directors are responsible for various corporate debts. Directors Personal Liability Business Debts - Statutory Debts – Governments have written laws making directors personally responsible for statutory debts such as: Unpaid employee wages; Corporate income taxes;

Does my Income Affect how Long I will be Bankrupt?

How does my Income affect how long I will be bankrupt?  Your income will impact the length of your bankruptcy if you make a salary over a certain threshold set by the government. The threshold is based on the size of your family. If your

Paying off your debts, including some “do’s” and “don’t’s” to be aware of.

Paying off your debts.    Have you made your New Year’s resolution?   Recent surveys tell us that paying off your debts is one of the most common resolutions made; and broken.   About 25% of people have this as their new year’s resolution; following losing weight, exercising

How to Survive without a Credit Card

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. In order to shop online you need a credit

Latest Poll Shows a Mixed bag of Confidence in the Economy.

Confidence in the economy slid for the second week as the share of those expecting the country’s economy to shrink reached a nine-month high, telephone polling shows.  The Bloomberg Nanos Canadian Confidence Index is based on a four-week rolling average of 1,000 respondents, and is

Chapter 7 or Chapter 13 Bankruptcy in Canada?

Canada and the US have similar cultures, language and financial systems so we also find the respective bankruptcy laws very similar.   In this article we outline some of the major differences.   Please see our article on US and Canadian bankruptcy law, which is better. We

Great credit rating after Bankruptcy or Consumer Proposal

Canadians are vitally concerned with their credit ratings.   Almost every person, I met in my practice wanted to know how the bankruptcy would affect their credit rating.  I would say that most people, thought the bankruptcy would hurt their credit rating.   I will show you

Bankruptcy Timeline.

Bankruptcy Timeline Video.  No Audio: A Canadian bankruptcy, in the majority of cases, is streamlined so the procedures (Bankruptcy Timeline) are straight forward, and simplified (Summary Administration). For example, in the simplified bankruptcy timeline, certain functions are simplified: Notification of the bankruptcy is NOT published

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