How Student Loans Can Impact Your Financial Future
When I was growing up, basically the only option you had as a high school graduate was to go to post-secondary school. For many people, that was the only option even if you didn’t know what you “wanted to be when you grew up”. The basic thinking was that if you had a degree, it…
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It’s Tax Time! What does that mean for you?
It’s that time of year again! Tax time! This can be an exciting time for many as they anticipate a huge tax return. For others who are expecting to owe the government money, it can be a very stressful time. It’s important to be aware of where you stand so that when tax time comes,…
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Bankruptcy Misconception
We often meet with clients who are in so much debt that it has created problems with their physical and emotional well-being. When people are in debt, it can seem impossible to escape the continuing stress of credit cards, student loans, car loans, etc. Collection calls, past due bills and bank over-draft are constant reminders…
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Don’t Get Caught In A Payday Loan Trap
Payday lenders seem to be popping up everywhere in SW Ontario, which shouldn’t be surprising since Canadians’ use of high-interest payday loans has recently doubled to include four percent of Canadian households, as stated in this article from the Financial Post. I can’t emphasize enough that payday loans should never be an option as it’s…
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The 411 on Consumer Proposals
Most, if not all people over the age of 18 have a pretty good idea of what bankruptcy is. If you don’t know someone who has personally filed bankruptcy, you have definitely heard of popular celebrities like Kim Basinger, Larry King, and Mike Tyson filing bankruptcy. Celebrities who have gone bankrupt aren’t the only bankruptcy…
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Stay Away From Credit Repair Companies
Many people who are drowning in debt will try almost anything to get back on their feet. Unfortunately, many companies are out there who seek out these unfortunate debtors and take advantage of them. As stated in a recent Global News article, these companies label themselves as “financial innovators but the Financial Consumer Agency of…
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Tax debt? What are your options?
If you have tax debt and can’t afford to pay it, one option for dealing with this debt is to file a consumer proposal. Some advantages of filing a consumer proposal are: Canada Revenue Agency will often accept less than the full amount of the tax debt owing. If your tax debt is less than 50% of your total unsecured…
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Who can you trust to help you get out of debt?
When debt becomes overwhelming, sometimes the best thing you can do is turn to a professional for debt management help. This is often easier said than done. There are many companies that are nothing more than scams, charging huge fees without actually helping you deal with debt. Finding help for your debts that is both…
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Can I keep my home in bankruptcy?
When people are in debt, they don’t want to think about what they may have to give up in order to get out of debt. People like their possessions. They are their possessions for a reason! People work hard for those possessions, especially their homes. Your home is where your kids grew up (or they’re…
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Income Tax and Personal Bankruptcy
For Canadians, April 30 is the official deadline to file your personal income tax return with the Canada Revenue Agency. Because April 30 falls on a Sunday, your return will be considered filed on time if it is received or postmarked on or before May 1, 2017. If you file your return past the deadline you will…
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