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Most Recent Posts

  • How Will a Consumer Proposal Get You out of Bankruptcy?
    How does a consumer proposal work? Well, it’s not hard, but you can’t do it alone, you need the help of a Licensed Insolvency Trustee. A Consumer Proposal keeps you out of bankruptcy by avoiding it altogether. The goal of a consumer proposal is to combine all your existing debt with different banks, creditors, or […]
  • Do I Become Debt-free When I Declare Bankruptcy?
    The short answer is “no”. When you declare bankruptcy in Canada, there are still some types of debt that you will need to pay later on. The goal of declaring bankruptcy isn’t to create a clean slate and wipe your debt record, but instead to alleviate your burden and make the remainder of your debts […]
  • How to Stop Wage Garnishment in Canada
    Wage garnishment can be devastating. You’re already paying overwhelming debts and then suddenly your paycheck is smaller and you’ve got to cope with less money and mounting bills. So how can you stop wage garnishment in Canada? There are a number of resources available to you if your wages are being garnished and several ways […]
  • Looming Insolvency Crisis: 1.3 Million Canadians On The Verge Of Bankruptcy (& How To Avoid It)
    The number of Bankruptcies and Insolvencies will depend on the new normal and how long we take to get there. Our only defence, so far, has been to stay home, social distance, and for all but essential workplaces, to close. Historically, bankruptcies and insolvencies in Canada approximate 120,000 – 125,000 cases each year. The big […]
  • Consumer’s Guide to Credit Card Fraud
    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 […]
  • Can I file for bankruptcy while on Long Term Disability?
    I am on disability. A couple of months ago I received a letter from Long Term Disability (LTD) to pay them back around $ 50,000.00. I am not able to pay this amount. I asked many different financial institutions to get a loan. But my request was declined everywhere because I can’t work anymore. Can […]
  • Considering bankruptcy: minimum debt amount and income calculation
    Looking to claim bankruptcy. However, I am now unemployed with no income coming in. My spouse is supporting the household. Is his income considered my income if I file? The debt is all my own, none of it is joint with my spouse. However, the amount is less than ten thousand – is there a […]
  • What happens to money received after a bankruptcy or consumer proposal?
    If I were to file for bankruptcy, or a consumer proposal, in Quebec, and after a year or two I won a substantial amount of money, what would happen to these funds in a court case? Can I receive it without anyone being able to touch it? The money would be paid to me from […]
  • How Does Consumer Proposal Affect Families?
    Families, like individuals and couples, have a wide range of expenses that draw on their financial resources. But for families with children, expenses are often larger and more varied than anticipated. Kids Can Be Expensive! Children are the proverbial “wild cards” when it comes to family spending. Parents are motivated to provide well for their […]
  • Power of Attorney and financial liability
    I have Power of Attorney for a relative who recently entered a rehab facility for some years due to severe addiction. There are bank debts and credit card debt. Is it acceptable to negotiate with these debtors to pay a percentage of the debt rather than the full amount? With whom in the TD bank […]