If you’re experiencing financial difficulties and starting to believe that bankruptcy is your only option, you might want to consider filing a Consumer Proposal. What is a Consumer Proposal? A Consumer Proposal is a payment arrangement with your creditors that’s…
If you’re thinking about filing for bankruptcy - or simply trying to avoid having to do so - your first and best step is to reach out to a Licensed Insolvency Trustee. Why would I want to contact a trustee?…
If you’re having financial difficulties, you are not alone. The number of insolvencies across the nation is steadily rising. According to the Office of the Superintendent of Bankruptcy, nearly 130,000 Canadians filed a Consumer Proposal or bankruptcy just this last…
Are you beginning to feel overwhelmed by debts that just keep building with no end in sight? Maybe you’ve missed a few mortgage payments, collections agencies have started to call, or worse yet, creditors have begun to garnish your wages.…
Deciding whether or not you should proceed with personal bankruptcy is not easy. Bankruptcy is widely considered a last resort to help honest debtors deal with what has become overwhelming financial debt. That said, the actual process to file for…
Taking out a payday loan is the perfect example of financially taking one step forward, and two steps back. If advertised for what they really are, payday loan ads would sound something like this: “Trap yourself in the cycle of…
Jerry, age 61, has spent his whole working career in the automotive industry in Chatham-Kent, and never imagined he’d be considering filing bankruptcy. Since the closure of Navistar Trucks in 2011, he has been struggling to make ends meet. He…
Equifax claims Millennial Debt Delinquencies on the Rise. More millennials may need the help of a licensed insolvency trustee. Equifax, one of the country’s major credit reporting agencies recently released a report with the same worrisome trends. The report claims…
The answer is in Section 84.2(1) of the Bankruptcy & Insolvency Act which states: 84.2(1) Certain Rights Limited - No person may terminate or amend or claim an accelerated payment or forfeiture of the term under any agreement, including a…
Another settling of Tax Debt! The person we are helping, we will call him “the Debtor,” owed Canada Revenue Agency approximately $155,000.00 in unpaid income taxes. The Debtor was an honest person who unfortunately got caught up in all of…
