How is a Licensed Insolvency Trustee Paid?

Home / Blog / Bankruptcy, Financial The costs of filing for bankruptcy are set both by the federal government and the trustee. This means that the fees you pay to a Licensed Insolvency Trustee for handling your bankruptcy will likely be the same across the country. Generally speaking, a bankrupt with no surplus income can expect to pay […]

When should I seek help for my financial problems

Home / Blog / Financial Here are two ways you can judge when you might need help with your finances. First, there’s the technical rule of thumb that says you’re in serious trouble when your monthly payments for debt (not including your mortgage/rent) are more than 20 percent of your income. If you don’t have […]

Collection agencies: What are my rights

Home / Blog / Debt, Collection Mary wakes up to the phone ringing at 6 a.m. She manages a “Hello?” “Yes, Mary, I am calling again about the overdue payment on your credit card account. We need a payment by tomorrow” says the voice on the end of the line. “I don’t know what this […]

Can I pay off my consumer proposal early?

Home / Blog / Consumer Proposal 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 […]

Can I do anything to stop a creditor’s legal proceedings against me?

Home / Blog / Debt, Collection It’s possible that if you’re having trouble meeting your payments, a creditor may take some kind of legal action in order to collect the debt you owe. This can include handing your account over to a collection agency, having your wages garnished, or taking you to court. If any […]

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

Home / Blog / 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: […]

Can I have my bankruptcy annulled if I repay my debt in full?

Home / Blog / Bankruptcy, Debt 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 […]

Bankruptcy and Cosigned Debts

Home / Blog / Bankruptcy, Debt 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: Cosigning for a debt means you […]

How to setup a budget

Home / Blog / Financial, Savings 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 […]

Can a Debt Management Program Help Me?

Home / Blog / Financial, Savings 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 […]