Filing Bankruptcy Without Your Spouse
I have many married couples ask me if one spouse can file bankruptcy without it affecting the other. The answer always depends on their personal situation. Many people 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…
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Is Corporate Bankruptcy the Best Choice for Your Ontario Business?
Filing for bankruptcy is never an easy decision. There are many important things to consider and whatever decision you make, you’ll have to live with both positive and negative consequences. How is Corporate Bankruptcy Different than Personal Bankruptcy? If your business is incorporated, then legally the business is a separate entity and its assets are…
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Pay For College Without Going Into Debt
It’s no secret that college isn’t cheap — and the price of education is continuing to increase year after year. But paying for college doesn’t have to break the bank or put you deep into debt. Student loans can be a great way for students to get help paying for school, but they don’t always cover…
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What are the differences between a bankruptcy and a consumer proposal?
Although both options relieve a debtor of financial stress and allows debtors the chance to get a financial fresh start, there are many differences between bankruptcies and consumer proposals in Ontario. That’s why we review all options with debtors when they meet with us because filing bankruptcy might be the best option for one person,…
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Debt After Divorce
Managing debt after divorce can be overwhelming for many people. Take solace in knowing that you’re not alone. In fact, almost one in five insolvencies (which include bankruptcies or consumer proposals) in Canada involve someone who has had a marital or relationship break-up. And it’s completely understandable as to why. Below we’ve listed the top…
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Budgeting vs. Asking for Help
Maintaining a balanced budget is not always easy. It can sometimes be very hard for Canadians to make ends meet, and therefore feel forced to use their credit cards. Credit cards can actually be helpful when you are strapped for cash, but more often than not, it starts the cycle of debt. Being aware of…
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Three Ways To Consolidate Debt
Consolidating debt is a great way to help eliminate it. With debt consolidation, you combine your debts or take out a loan and pay them off, leaving you with one monthly payment. This not only helps you save money on interest and pay off your debts faster, but only making one payment a month can…
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Why should I get a new account at a new bank?
There is nothing worse than having your bank freeze your account, taking money from your account without your permission or having your pay cheque constantly be applied to overdraft. When we consider our relationship with a bank we think of having numerous and separate accounts with them. For example, we may have a chequing account,…
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Who will know about your bankruptcy?
Many people are concerned about who will know about the financial trouble that they are experiencing. Some people are embarrassed, while others simply aren’t comfortable sharing such information because, let’s face it, it’s really no one’s business but your own. Bankruptcy is nothing to be ashamed of. It means you are taking control of your…
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How To Survive Financially After Losing A Job
Losing a job can happen to anyone at any time. It seems like job insecurity is more of the norm these days than job security. The resulting stress can be tremendous even in circumstances where the layoff was inevitable or occurred for reasons outside of your control. The good news is that there are plenty…
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