RRSPs and Bank Loans
It’s that time of year again. It feels like it was just tax season, but alas, it’s arrived again. With tax season, come RRSP contributions. Some people set aside money throughout the year to contribute to their RRSP, and others tend to wait too long and when the RRSP deadline approaches (this year the deadline…
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Re-establishing Credit After Bankruptcy
People often express concern over the affect filing bankruptcy will have on their credit score, as well as their ability to re-establish credit after filing bankruptcy. The answers to these questions can be somewhat complex, depending on the circumstances. One thing is for sure, people contemplating bankruptcy frequently have low credit scores to begin with. Therefore,…
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How can I save money?
A question I often get after someone files bankruptcy, or after they are discharged from bankruptcy, is “how do I start saving money?” Once someone has been in debt, and have gone through the steps to get out, they never want to get into debt again. So this is a legitimate question. It’s good to…
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What do I need to know about tax season?
Tax season is upon us and it’s common to have questions. Here are some common questions I hear that may help you get through this season. What paperwork will I need? T1 General 2018 If you’re an employee, a T4, Statement of Remuneration Paid form If you’re retired, a T4A, Statement of Pension, Retirement, Annuity and Other Income…
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Do I need a referral?
At Welker & Associates, we offer free consultations to anyone who is looking for help with their financial situation. You should never have to pay a trustee up front to discuss options. However, there are some companies who act as consultants for trustees and a representative from the company will meet with you to discuss your financial options. In most cases,…
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Divorce is a Common Reason for Bankruptcy
Many people are scared of the word “bankruptcy” but it can actually be something that can change your entire life for the better. There are many different reasons that people choose to file for bankruptcy and it is not something to be ashamed of. However, a very common factor when it comes to bankruptcy is…
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Valentine’s Day doesn’t have to be expensive!
There is a lot of pressure on Valentine’s Day to spend a lot of money to show someone how you feel about them. Being frugal on Valentine’s Day could be a detriment to you on Valentine’s Day as it may give off the wrong impression. I definitely understand the pressure to spend money on Valentine’s…
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If I make a consumer proposal, will I lose my home?
A top concern when meeting with people is whether or not they will be able to keep their home. It’s a scary thing to have to give up your home because of the overwhelming amount of debt people have obtained. The good news is, when you make a consumer proposal, your home and related equity is unaffected. You retain possession and…
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Know what you’re getting yourself into when it comes to your credit card!
When you sign up for a credit card, you are signing up for a lot of responsibility. It’s easy to say “make sure you read your credit card agreement” but the fact of the matter is, a credit card agreement isn’t simple to understand. I believe they make it hard to understand so that you…
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The “Golden Years” May Not Always Be Golden
Retirement is often described as “the golden years,” the time when our many years of hard work and dedication will allow us to enjoy the rest of our days in relative comfort. However, would you be surprised if I told you that the fastest growing demographic group of bankruptcy filers is those over 65? It’s…
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