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,…
The Parliament of Canada allows insolvent companies to restructure their finances through the Companies’ Creditors Arrangement Act (CCAA). The act allows a troubled corporation to potentially avoid the consequences of bankruptcy. Not only is it in the best interest of…
The Bankruptcy and Insolvency Act of Canada (BIA) is a nationwide statute. The BIA regulates bankruptcy and insolvency across Canada. It defines the legal bankruptcy process, among other things, to protect both individuals and their creditors. The BIA regulates: Bankruptcy…
The fight against the COVID pandemic has involved massive government support programs around the world. In Canada, CERB and CESB payments are being dispersed to mitigate the economic impact of the pandemic. According to the Government of Canada, more than…
The wages of Canadian employees are protected. These protections stand regardless of employers' willingness or ability to pay. Even if your employer declares bankruptcy or is subject to receivership, you are entitled to unpaid wages. The protections you receive are…
During the pandemic, it seems as though Canadians have been given a pass on monthly bill payments. So can bill collectors still call during Covid-19? The government, as well as the banks and lenders, are, thankfully, offering all types of…
Debt Consolidation vs Bankruptcy: Which is Better? Are you weighing the pros and cons of debt consolidation vs bankruptcy in Ontario? wondering which is better? Maybe it’s time to take a closer look at the options. What is Debt Consolidation?…
Ever wonder why you don’t have two nickels to rub together? It’s true that those bad habits can really add up. But, do you know how much? Let’s take a look… one bad habit at a time. Smoking Are you…
Many millennials find themselves financially struggling, unable to stop the snowballing of their debts until they plummet into bankruptcy. In fact, millennials are filing for bankruptcy at a faster rate than any other generation. Are you at risk? Do you…
In India, you can go to jail for your debts. How about Canada? Not a chance. Unless of course, you’ve committed fraud. But then fraud is a whole ‘nother thing. So, exactly what does happen if you are not able…
