Can filing bankruptcy eliminate child support payments?
Many people consider filing for bankruptcy when their debts become far greater than what they can afford to pay. Bankruptcy helps you eliminate or pay off past due bills, which allows you to get caught up and start over. One question you may have when considering bankruptcy is if it will get rid of everything you owe,…
Read More
What Not To Do If You’re Thinking of Filing Bankruptcy
People who are considering filing for bankruptcy often think about what they need to do to prepare for their case, such as gathering their bills, collecting paystubs, and consulting a Licensed Insolvency Trustee like Welker & Associates. There are also several things you should definitely not do if you’re thinking about bankruptcy. To ensure your…
Read More
Do Not Let Debt Overshadow Your Thanksgiving
All Canadians in debt should be thankful for the Bankruptcy and Insolvency Act. The Bankruptcy and Insolvency Act was designed to help people who are struggling with debt, and as a Licensed Insolvency Trustee, I am thankful that I can use this legislation to help the people that I meet with. The Bankruptcy and Insolvency Act also works with provincial legislation to…
Read More
Bankruptcy and Credit: Will I still be able to get credit in the future?
Thousands of Canadians file bankruptcy every year, and most of those Canadians have similar concerns. One common concern is that they will end up with terrible credit after the bankruptcy process is complete. It’s true, bankruptcy will adversely affect your credit score. When you want to apply for a mortgage, credit card, or any type of…
Read More
Bankruptcy Today Makes For a Better Financial Future
Some people believe that filing for bankruptcy is synonymous with the end of the world as they know it – a complete breakdown of their personal finances. But in reality, bankruptcy is a lot less dramatic than that. Although it may feel like a significant setback, bankruptcy can actually improve your situation, solve your unsecured debt…
Read More
Should seniors file bankruptcy?
You may be surprised to know that the fastest growing demographic group of bankruptcy filers is those over 65. This is because there fewer traditional pensions, there was a lot of availability to easy credit before the Great Recession, and seniors have been supporting younger family members more now than ever before. But, if you…
Read More
What to expect when filing bankruptcy
Filing bankruptcy in Ontario is a legal process that can only be completed by a licensed insolvency trustee. As part of the bankruptcy process, your licensed insolvency trustee will help you prepare a budget and provide credit counselling to improve your money management skills. Filing personal bankruptcy in Ontario ends your legal obligation to pay your…
Read More
So, what exactly is bankruptcy?
Many people find themselves drowning in debt but the thought of bankruptcy is so scary to them, they are willing to go further and further into debt. To those people I say, bankruptcy isn’t something to be afraid of. In fact, bankruptcy is often times describe by many bankrupts as a way out, or a…
Read More
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…
Read More
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…
Read More
