It May Surprise You To Know Who Files Bankruptcy In Ontario
Filing for personal bankruptcy still carries a powerful stigma in Ontario. When people hear the word “bankruptcy” images of irresponsible, lazy consumers are usually conjured up. The truth is that there are plenty of people who find themselves in desperate financial situations despite having initially had every intention of paying their creditors. Marital breakdown, reduced…
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Buying A House After A Bankruptcy
If you’ve declared bankruptcy in the past, know that you’re not alone. Further, know that your situation is nothing to be ashamed of. No one wants to declare bankruptcy; sometimes, it may be the only solution to a difficult situation. I see many people who are concerned that filing bankruptcy or making a consumer proposal will effect…
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Top Concerns For Canadian Students
It’s almost September, which means it’s time for students to start worrying about many things. Will I like my roommate? Who is going to make me dinner? What if I can’t find my way around campus? These are all common concerns you would expect from students just entering their post-secondary career. According to an article…
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Questions For A Trustee
Many people are slightly embarrassed or anxious when they first meet a trustee, and it’s easy to forget what questions you want to ask. Before you meet with a trustee it’s important to make a list of questions that you would like answered in your free initial consultation. That way you can be sure that…
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What can a credit counsellor do for you?
Credit counsellors claim they are able to help you deal with your debts. The truth is, credit counsellors have no greater ability to negotiate with your creditors than you do. Therefore, I guess anyone can be a credit counsellor. The credit counselling industry in Canada is unregulated, and as a result, you don’t have to have any…
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Should you file bankruptcy before the new year?
There are some clear advantages to filing before the end of the year. When you file personal bankruptcy the trustee will prepare and file your income tax return and keep the refund for the year of bankruptcy and any prior taxation year that you had not yet filed and received the refund for. What this means is…
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Having A Financial Plan Is Important…For Everyone
Having a financial plan is important for everyone regardless of their financial situation, but it is even more critical for individuals who are trying to rebuild after making a consumer proposal or filing personal bankruptcy. Dedicating time to financial planning can also help you protect the assets you have now and increase your wealth in…
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How To Improve Your Credit Score
It seems like every time I turn on the TV there is a commercial about bad credit, and how companies can still approve loans despite that bad credit. A better option would be to work to improve your credit so that you don’t have to pay ridiculously high interest rates on the loans offered by…
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Bankruptcy And My Spouse
A common question I receive from many people I see is “how will bankruptcy affect my spouse?” Many have the mistaken impression that because they are married, their spouse is automatically responsible for their debts. This is not the case. The good news is, in Canada, marriage alone does not make you responsible for your…
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Eliminate Debt Demons for Halloween
Ghosts, witches and goblins make Halloween a scary time of year for everyone, but especially for families who want to avoid the horror of debt. The cost of costumes for kids (and some adults), candy for neighbourhood children, and elaborate decorating all add up (and this is just Halloween…don’t even get me started on Christmas)….
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