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Although it’s not common, one of the things that can cause people to file bankruptcy or a consumer proposal is if they’ve been the victim of credit card fraud.  Here are some things you can do to protect yourself. One of the most common ways that people fall victim to credit card fraud is simply […]

Insolvency Statistics Canada 2016-2015
Insolvency Statistics Canada 2016-2015

Statistics Canada keeps close tabs on the economic status of Canadian consumers, and publishes its findings yearly. Similarly, the Office of the Superintendent of Bankruptcy Canada (OSB) records statistics specifically on insolvency. Drilling down into the data reveals both cautionary and inspiring trends. Note that Statistics Canada defines a consumer as an individual with more […]

Canadian man with bad credit looking for a car loan
Canadian man with bad credit looking for a car loan

Not only individual Canadians, but also those holding themselves out as advisors to consumers in financial distress, often fail to explore a comprehensive approach to addressing debt problems.Mark Silverthorn, former collection lawyer and collection industry insider The purpose of this series of articles is to explore the various strategies that a Canadian can use to […]

If you owe monies to an unsecured consumer creditor and that creditor does not sue you before the expiry of the relevant limitation period on certain debt in your province then you will be in a position where you can choose not to pay a penny to that creditor.  It is important to remember that […]

One of the key concepts in avoiding debt is maintaining positive cash flow.  Your household has a positive cash flow where in a given month its total revenues is greater than its total expenses.  Similarly, your household will be in a negative cash flow position where in a given month its total expenses are greater […]

There are two basic strategies for raising cash that can be used in connection with resolving your debt situation: Selling some of your assets Borrowing monies from family and friends Raising cash by selling some of your assets Some, but not all, Canadians facing significant debt problems are in a position to substantially improve their […]

What Canadians Should Know If They Cannot Pay Their Student Loan
What Canadians Should Know If They Cannot Pay Their Student Loan

We are pleased to announce that we have published a series of articles under the heading of “What You Should Know If You Cannot Pay Your Student Loans”. This content is broken down into a series of four articles: Student Loan Debt: Background Information In this first of four articles dealing with unpaid student loans […]

Filing for bankruptcy is a serious financial decision to make. It is important that those considering filing are sure that bankruptcy is the best option available. Your very first step should be to find a Licensed Insolvency Trustee to help evaluate your current situation and discuss all possible options. Below are a few big reasons […]

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