Understanding Your Credit Report
Many Canadians request a free copy of their credit report through Equifax or Transunion, but once they receive their report, they have a hard time reading it. If you’re not used to reading credit reports, they can definitely be difficult to understand. Here are some points to remember when reading your credit report: Included Information…
Read More
Why do most people file for bankruptcy?
According to the Office of the Superintendent of Bankruptcy Canada, the total number of insolvencies (bankruptcies and proposals) in July 2014 was 1.5 percent higher than the total number of insolvencies in July 2013. While it isn’t a huge increase, it still spells hard times for a lot of families. Although each situation is unique, some of the…
Read More
Dealing With Your Debt Doesn’t Have To Be Scary
Are debt issues scaring you most this Halloween? If the things you’re most afraid of this Halloween are dealing with collection calls or opening creditor letters, it’s probably time to get some help with your personal debt problems. Meeting with a trustee isn’t scary and most people are shocked to find out how simple filing…
Read More
Can personal loans from friends be included in a personal bankruptcy?
JOE ASKED: I have personal loans with two different friends that alone equal $15,000. Can these loans be eliminated with personal bankruptcy? Can I keep my mortgage? Personal loans are no different than any other debt. Filing personal bankruptcy can definitely eliminate personal loans owed to friends. There is a short list of debts which are not eliminated by filing…
Read More
Getting Financial Help For The First Time
Many people I meet with tell me that they were nervous to call me because they have never made a consumer proposal or filed personal bankruptcy before. This is a good thing. You don’t want to have much experience with consumer proposals or personal bankruptcy. True, unless you’re a licensed trustee in bankruptcy. While there are…
Read More
E-Filing Tax Returns After Filing Personal Bankruptcy
Many people who have filed personal bankruptcy in the past have difficulty e-filing their income tax return even after being discharged. The Canada Revenue Agency (CRA) does not allow individuals who have filed personal bankruptcy to e-file their income tax returns until the trustee has been discharged. There are two discharges associated with personal bankruptcy filing…
Read More
Opening January 1, 2015 – Our new Windsor office!
Effective January 1, 2015 Welker & Associates will be opening a new location in Windsor, Ontario. Although we won’t “officially” be open until January 1, if you would like to book an appointment before then, we will be happy to meet with you. We will be using space at 720 Ouellette Avenue, Windsor, Ontario. We look forward to being able…
Read More
Opening January 1, 2015 – Our new Hamilton office!
Effective January 1, 2015 Welker & Associates will be opening a new location in Hamilton, Ontario. Although we won’t “officially” be open until January 1, if you would like to book an appointment before then, we will be happy to meet with you. We will be using space at the Financial Wellness Centre located at 236 Pritchard Road,…
Read More
Options For Dealing With Your Personal Debt
When it comes to dealing with personal debt, there are three choices: digging out of debt on your own (which may include credit counselling); making a consumer proposal; or filing personal bankruptcy. Deciding which option is right for you and your family depends on your personal situation. It is important to explore all of your options and…
Read More
Wages During Bankruptcy
Many people I meet with are concerned that if their wages increase during their bankruptcy, they will have to pay more than originally expected to their creditors. While you’re in bankruptcy, you will be under income restrictions and must do monthly income and expense reporting to the trustee in bankruptcy that you have filed with. There…
Read More
