May 10th, 2022 by A Licensed Insolvency Trustee
If you are a Canadian under the age of 50, you were not yet an adult the last time mortgage lending rates in Canada sat at over 10%. In 1981, the Bank of Canada’s overnight interest rate spiked to an astonishing and alarming 19.64% – which meant that lending rates for mortgages and credit cards […]
May 4th, 2022 by A Licensed Insolvency Trustee
Yes, gambling debts can be discharged with bankruptcy. Overwhelming gambling debt is among the most common reasons for bankruptcy, job loss, unexpected expenses, and the demands of raising a family. Bankruptcy is an insolvency solution. Insolvency is the inability to meet your financial obligations (pay your bills) on time because you lack the funds. Gambling […]
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 […]
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 […]
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 […]
For individuals carrying substantial consumer debt, income tax season can be a blessing or a nightmare. Of course, it all depends on whether you are expecting a refund or a bill. I am self employed, and I experienced financial distress in 2009 and eventually filed a Consumer Proposal. Looking back, there were warning signs that […]
Andy and Cynthia are a smart young couple, but they’ve gotten into trouble with consumer credit. Like most people, they certainly didn’t see money troubles around the corner when they started their small business. They were filled with optimism! And, things went well for a couple of years. Sales were actually better than they had […]
April 12th, 2016 by Questions
I have no income. I have no money in the bank. My home is in foreclosure. My wife is divorcing me. I have no choice but to declare bankruptcy. What does it cost to file?
Are you reading this article because you’re seeking a solution to your financial difficulties? Gathering information on Bankruptcy or Consumer Proposal? Then you already know something that few people without financial problems realize – these solutions are not “the easy way out”. It’s not that Bankruptcy and Consumer Proposal are terribly difficult (in fact, most […]
Earlier this month the Ontario Liberal government headed by Kathleen Wynne announced plans to pilot a Basic Income program, as part of its 2016 Budget. The Federal Liberal government is also expressing interest in investigating Basic Income for all Canadians. Basic Income is not a new idea, and there are several forms. In some schemes, […]