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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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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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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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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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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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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Educating Students on Credit
When students leave home to attend post-secondary school, everything is new. All of a sudden they have more financial responsibility and often times struggle with budgeting. So, when they walk around campus and there are credit card company representatives basically handing out credit cards, of course they are going to accept them. The problem is,…
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Bankruptcy and Your Business
If you have concerns about your business’ finances, you should consult a Licensed Insolvency Trustee as early as possible. If your business is incorporated, then legally the business is a separate entity and its assets are owned by the business. In this case the incorporated company can go bankrupt if it cannot meet its financial…
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How should I handle telephone calls and harassment?
Calls from debt collectors can be overwhelming and intimidating. But learning some dos and don’ts about handling debt collector calls and understanding your rights when it comes to debt collection agencies can ease your anxiety. More importantly, by knowing what to do and say when a debt collector calls, you can avoid making a mistake…
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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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