Financial recovery requires the right tools
Home / Blog / Credit, Bankruptcy We’ve all heard the term credit rating, and chances are pretty good that we know that our rating influences a bank’s decision whether or not to lend us money, give us a mortgage, and so on. But how many of us really understand what exactly
Home / Blog / Bankruptcy, Financial If you’re facing the possibility of bankruptcy, you may be wondering what will happen to your possessions — will you lose everything you own, including your house and your car? Not necessarily. The purpose of bankruptcy is to give “honest but unfortunate debtors” a
Home / Blog / Bankruptcy, Financial When you file for bankruptcy, one of your required duties will be to keep track of your monthly income and expenses during the period that you’re bankrupt. Your trustee will give you the forms for doing this, and each month, you’ll pass the information
Home / Blog / Bankruptcy, Consumer Proposal Bankruptcy and Consumer Proposals for High Income Earners Contrary to what you might think, financial difficulties are not limited to low or middle income earners. In fact, many professionals with high incomes find themselves in financial hot water because their high incomes blind
Home / Blog / Bankruptcy, Credit Whether or not you can file for bankruptcy without affecting your spouse will depend on the debts that are owed. If you’re the only one who signed for the debts, then your spouse is not responsible for them (despite what any collection agencies may have
Home / Blog / Bankruptcy If you find yourself overwhelmed by your debts (and perhaps even fending off calls from creditors and their collection agencies), you may think bankruptcy is your only hope of getting out of financial difficulty. In reality, however, bankruptcy should always be your last resort—and you
Home / Blog / Bankruptcy, Consumer Proposal If you’re facing either bankruptcy or a consumer proposal, you may be concerned about what will happen to savings set aside for your children either by you or someone else. In the case of a proposal, the answer will most likely be ‘nothing’.
Home / Blog / Debt, Bankruptcy, Consumer Proposal It’s not uncommon for people in financial difficulty to owe taxes to Canada Revenue Agency (CRA)—sometimes a significant amount of taxes. Many of these people are under the impression that nothing can be done about it, because tax debt is different from
Home / Blog / Student Loans, Bankruptcy, Consumer Proposal When you declare bankruptcy or file a consumer proposal, most—but not all—of your debts are discharged at the end of your bankruptcy/consumer proposal term. This means your debts are forgiven (in bankruptcy) or considered paid in full (in a consumer proposal),
Home / Blog / Bankruptcy, Consumer Proposal If you’re considering bankruptcy or a consumer proposal, you might be wondering what will happen to your home. Will you lose it to your creditors? Have to sell it? Be able to keep it? The answer is: it depends. Whether you file for
