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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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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What are my options?
Whether you are barely holding on or the debt collectors have already come knocking, the best strategy is to take stock of the situation and come up with a plan as soon as possible. Everyone has the same basic options when it comes to dealing with your debt. 1. Deal with creditors directly Check your…
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How do I know if I have too much debt?
What may be too much of a financial burden for you, may be completely manageable for someone else. Every situation is different. Taking control of your debt involves acknowledging the problems you have. The sooner you recognize the tell-tale signs, the sooner you can take steps to modify your spending. All Your Money Goes Toward…
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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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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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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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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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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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