Feb262024
Filing for bankruptcy can be a daunting process, filled with intricate details and legal procedures. It’s a decision often arrived at after much consideration and, typically, as a last resort to manage insurmountable debt. However, the complexity of bankruptcy filings means that it’s alarmingly easy to make mistakes that can affect the outcome, or even […]
Feb122024
Many Canadians struggle with debt; sometimes, bankruptcy is the last option to escape the crushing burden. This journey begins with filing for bankruptcy with the assistance of a Licensed Insolvency Trustee (LIT), the only professional in Canada licensed and regulated to administer bankruptcies. Bankruptcy is a legal procedure where you surrender any non-exempt assets to […]
Jan82024
Financial difficulties can be overwhelming, and a consumer proposal might offer a workable debt relief option for many people. With a consumer proposal, you can make a manageable monthly payment to your unsecured creditors while stopping interest payments for up to five years. A consumer proposal is an effective approach to settling your debts if […]
Dec192023
Wage garnishment is a legal process the Canada Revenue Agency (CRA) uses to collect outstanding tax debts. A wage garnishment involves the CRA contacting the debtor’s employer to send a portion of their wage directly to the CRA. You may wonder, “How much can CRA garnish from wages?” The government has the right to garnish […]
Dec122023
If you are behind in your debt payments, you may be receiving calls from debt collection agencies that can be unsettling. It is not uncommon for a debt collector to threaten legal action if you don’t pay it back by the payment due date. You may be wondering, “Can a collection agency take me to […]
Nov282023
A consumer proposal might be a lifeline for those overwhelmed by debt during hard financial times. A binding agreement between a debtor and their creditors enables debt repayment at a more reasonable pace. However, many people are unsure how a consumer proposal may affect their current auto loan or their ability to get a new […]
Oct272023
Filing for bankruptcy can be a daunting process, filled with intricate details and legal procedures. It’s a decision often arrived at after much consideration and, typically, as a last resort to manage insurmountable debt. However, the complexity of bankruptcy filings means that it’s alarmingly easy to make mistakes that can affect the outcome, or even […]
Oct172023
When it comes to managing and paying off debt, the process can often feel overwhelming. High interest rates and multiple balances can make it seem like you’re running on a treadmill — working hard but not making much progress. This is where the Snowball Method comes in, a strategic approach to debt repayment that not […]
Oct122023
Dealing with debt is no walk in the park. It can feel like a heavy burden, constantly weighing you down. However, the good news is that there are various solutions available to help ease this load. Understanding the options, from consumer proposals to bankruptcy, is key in making an informed decision for your financial future. […]
Oct42023
In today’s world, managing debt can be a daunting challenge. Many individuals find themselves overwhelmed by mounting bills, high interest rates, and the stress of financial instability. If you’re in this situation, you’re not alone. Fortunately, there are solutions available, and one of the most effective options for Canadians facing financial hardship is the consumer […]
