Student Loan Debt Solutions
Each year, thousands of Canadians rely on student loans to help fund their continuing education. Getting a student loan is an investment in your future as it helps you to get an education which in turn, will help create better job and career opportunities. Unfortunately, once you graduate from post-secondary school, life gets in the…
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Tax debt? What are your options?
If you have tax debt and can’t afford to pay it, one option for dealing with this debt is to file a consumer proposal. Some advantages of filing a consumer proposal are: Canada Revenue Agency will often accept less than the full amount of the tax debt owing. If your tax debt is less than 50% of your total unsecured…
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It’s Tax Time! What does that mean for you?
It’s that time of year again! Tax time! This can be an exciting time for many as they anticipate a huge tax return. For others who are expecting to owe the government money, it can be a very stressful time. It’s important to be aware of where you stand so that when tax time comes,…
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How Student Loans Can Impact Your Financial Future
When I was growing up, basically the only option you had as a high school graduate was to go to post-secondary school. For many people, that was the only option even if you didn’t know what you “wanted to be when you grew up”. The basic thinking was that if you had a degree, it…
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Borrowing to Make RRSP Contributions
With the RRSP contribution deadline just around the corner (March 1), many people have either already made their contributions or they are procrastinating and waiting until the last minute to make their contribution. But there are also a number of other people who struggle this time of year as they are unsure if they should…
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Consumer Proposals and Student Loans
If your student loan is causing you financial hardship, it is a good idea to have an in-depth discussion with a bankruptcy trustee. Student loans through the Canada Student Loans Program can be included in a bankruptcy if they are more than seven years old. That is – if your end-of-study date is more than…
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Income Tax and Personal Bankruptcy
For Canadians, April 30 is the official deadline to file your personal income tax return with the Canada Revenue Agency. Because April 30 falls on a Sunday, your return will be considered filed on time if it is received or postmarked on or before May 1, 2017. If you file your return past the deadline you will…
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Paying Student Loans During Your Bankruptcy or Consumer Proposal
Some people have extraordinary large student loans and often time fidn it very hard to pay off, even over a long period of time. As you get older it seems like more and more debt is inevitable, and if you haven’t delat with debts from the past (student loans for example) it’s very easy to…
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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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Can’t afford to pay CRA debt?
It’s common this time of year to have people meet with me to discuss options their government debt. It can be a huge shock to people when they get their income tax done and are given the unexpected news that they owe CRA. When someone is expecting to receive a return and are then told…
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