Large companies that owe creditors more than $5 million can consider the Companies Creditors Arrangement Act (CCAA) as an alternative to Bankruptcy. If you are concerned about debt, reach out to a Licensed Insolvency Trustee (LIT) today to discuss the CCAA.
If you can’t afford Canada Emergency Response Benefit (CERB) repayments and are contemplating Bankruptcy know that it is possible to eliminate CERB debt if you file for Bankruptcy or a Consumer Proposal.
If you owe money for back taxes and don’t know what to do, you might consider a Canadian Revenue Agency (CRA) payment arrangement. Learn what a CRA payment arrangement is and if it’s right for you.
Debt settlement is a debt repayment strategy that can be used to eliminate a portion of your debt. In some cases, debt settlement can provide debt relief. However, there is risk involved.
If you’re interested in using DIY debt solutions to track your finances, plan for your future, or pay down your debts, there are several strategies you can try.
Canadians are in debt. With high inflation, rising interest rates, expensive housing, and increased spending, it should come as no surprise. If you are struggling with debt and insolvency, reach out to a Licensed Insolvency Trustee for help.
We reached out to Derek Chase, a Licensed Insolvency Trustee with nearly 25 years of experience working in British Columbia. Derek primarily consults with individuals overwhelmed with debt, helping them find solutions. We asked Derek to share his realizations as an LIT during the pandemic.
If you are on the brink of consumer insolvency, know that you are not alone. While current Ontario Bankruptcy and Consumer Proposals remain lower than pre-pandemic levels, this is likely to change due to rising interest rates and the end of government programs. Now is the time to speak to a LIT.
Depending on the stage of life you’re in, you may be wondering what happens to your debt when you die. Can it be inherited? What debts are forgiven at death? Will you be leaving loved ones with the hardship and stress of dealing with your debt at a time they are grieving? These are legitimate worries. If you want to protect your family from dealing with your debts when you’re gone, here’s what you need to know.
Sick of dealing with your debt alone? Are you interested in finding out what kind of Canadian debt relief programs are available? A Licensed Insolvency Trustee (LIT) can walk you through the different debt relief programs and help you determine which one is right for you.