Understanding Statute-Barred Debts and Your Rights as a Debtor

Many Canadians struggle with long-overdue debts, often unsure if creditors will even come to collect. The confusion stems from statute-barred debts, or debts that have passed their legal limitation period. This article outlines how limitation periods work, their role in…

How USA Tariffs Can Lead to Greater Debt, Bankruptcies , Job Loss, and Economic Uncertainty in Southwest Ontario

The automotive industry in Southwestern Ontario is critical to the economy of Canada, contributing thousands of jobs and significant GDP output. That makes the threat posed by USA tariffs on Canadian car shipments a cause for concern. President of the…

Consumer Proposal vs. Debt Consolidation: Which is the Best Debt Solution for You?

Managing debt is a challenge. But it's even more difficult with high interest rates that add to your principal and make it hard to lower your balance. What can you do when so many payments make your debt overwhelming? Consumer…

Canadian Business Bankruptcy Filings Reach a 10-Year High

Business Bankruptcy in Canada is primarily governed by the Bankruptcy and Insolvency Act (BIA), a federal statute that provides the legal framework for Bankruptcies and insolvencies in the country. The BIA outlines various options for businesses facing financial distress, with…

How Consumer Proposals Work and What Our Clients Say About the Process

As Canadians finances are continuously under pressure, more are choosing to file a Consumer Proposal as a way to get relief from your unmanageable debt. This debt relief option is now considered the number one alternative to Bankruptcy. Government approved,…

Ontario Bankruptcy and Consumer Insolvency Statistics in Canada

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.