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Coping with Debt Video Series: What is a Consumer Proposal? – Technical Details

If you are one of the many Canadians who finds yourself in financial difficulties, a consumer proposal can be a useful tool to get you back on your feet and debt-free. In this second of two-part episode, we look at the basic requirements for making a proposal, which are really very simple

 

 

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Coping with Debt Video Series: What is a Consumer Proposal?

In Canada, if you find yourself in financial trouble and unable to repay your debts, the Bankruptcy and Insolvency Act allows for two options: (1) filing for bankruptcy; or (2) making a consumer proposal. Today marks the first in a two-part episode in our Coping with Debt video series dealing with questions we hear from clients with regard to the second option: consumer proposals.… Continue Reading

Can I pay off my consumer proposal early?

Finances are a fluid thing subject to change for a variety of reasons—and (despite how it may seem sometimes!) not always for the worse. If you’ve filed a consumer proposal only to find that your financial situation has suddenly improved because of a pay raise, new job, or some kind of “windfall” (i.e. an inheritance, a monetary gift, the sale of an asset, or a lottery win), is there a way you can pay down your consumer proposal early?… Continue Reading

Can I stop a power of sale on my home by declaring bankruptcy?

If you have missed paying your mortgage payments and haven’t made other arrangements with your bank, chances are pretty good that your bank’s next step will be to start power of sale proceedings against your home. Before that happens, there are steps you can take to try to prevent it:

  1. As soon as you realize you might have to miss a payment, contact your bank.
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Can I have my bankruptcy annulled if I repay my debt in full?

If you’re currently in bankruptcy (or you’ve already filed for it) and your financial situation suddenly changes for the better (think inheritance, lottery win, etc.), is there anything you can do to get out of bankruptcy? You’ll be pleased to know that the answer to this is yes, but it’s not quite as simple as paying what you owe and making the bankruptcy disappear—nor will your credit record suddenly be cleared.… Continue Reading

Bankruptcy and Cosigned Debts

Bankruptcy and consumer proposals can have an impact not just on the person declaring bankruptcy or filing a proposal, but also on anyone who may have cosigned for one of his/her debts as well. Here’s what you and your cosignor need to know:

  1. Cosigning for a debt means you are taking legal responsibility for that debt if the person who borrowed the money can’t repay it.
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How to setup a budget

If you’ve never used a budget before, the idea of setting one up can be a little daunting…especially if you’re already feeling a financial squeeze. Many people freeze up at the very thought, certain that if they try to put a budget in place, it will only confirm what they already suspect: there isn’t enough money coming in to cover all the money that needs to go out.… Continue Reading

Can a Debt Management Program Help Me?

If you’re facing financial difficulties and you’re looking for solutions, you may have come across offers to help you set up a debt management program. Essentially, this is an arrangement with your creditors made on your behalf by a credit counsellor or credit consolidation company. It allows you to make smaller, more manageable payments on a monthly basis. Sounds good so far, right?… Continue Reading

Doyle Salewski Inc. donates $5,000 to The Petawawa Military Family Resource Centre

PMFRC DonationDoyle Salewski Inc. is a proud member of “Canada Company” through which the donation was made. Making the firm’s annual donation is Brian Doyle, President of Doyle Salewski, along with Donna O’Keefe , Director , Doyle Salewski Inc , for the Pembroke and Petawawa areas. Donna is the proud spouse of Craig O’Keefe, Lt. Commander with the Canadian navy. Craig and his three brothers have served in excess of 108 years. Craig and two of his brothers are still active members.

The Petawawa Military Family Resource Centre is committed to enriching the lives of individuals and families of the military community through positive action, education and support. Accepting the donation on behalf of the resource centre are Helen Jackman, Board member, Claudia Beswick, Executive Director and Selina Robb, Chairperson of the board. Also attending are a some of Petawawa’s “Lil Troopers”.

 

Brian Doyle said: “ I am very pleased to make this continuing annual donation to such an important organization. The entire staff of Doyle Salewski thanks the members of the Canadian forces for all they do.

© 2015 Doyle Salewski Inc. All Rights Reserved.