In addition to our usual commentary on bankruptcy in Canada, we occasionally review books that may be of interest to our readers. You can see all book reviews in our book review section. Today we review Debt Free Forever: Take Control Of Your Money And Your Life by Gail Vaz-Oxlade, the host of TV’s Til […]
The consumer proposal is probably the least known of the processes to deal with overwhelming debt, but it is the mechanism that has the greatest capacity for good given our current economic environment. Let’s face it, right now the number one biggest risk to the Canadian economy isn’t the high dollar, it isn’t our level […]
On this web site we provide many tips for dealing with your debt. We have an interactive debt options calculator that tells you what it will cost to deal with your Bookdebts, and we have an on-line support group so you can discuss your alternatives anonymously with others in your situation. These tools are great, […]
What does it mean to “run the numbers”? This is an expression that accountants and other financial professionals use to mean “look at how much it costs” to do a certain thing. For example, when you buy or lease a car, you determine what the total cost of the car is and then look at […]
My name is Barton Goth, and I am a licensed Trustee who practices here in bankruptcy. As I have been born and raised here in Edmonton, I can remember fondly the glory days of Edmonton Oilers and have been watching very closely the misfortunes of good old Peter Pocklington. Now I don’t know if this […]
A debt management plan, also referred to as credit counselling, is a voluntary repayment plan to deal with your debts. The most common alternatives to a debt management program are a debt consolidation loan, or a consumer proposal. The idea behind a debt management program is simple – your debts are pooled together (they are […]
In June 2010, the Office of the Superintendent of Bankruptcy (OSB) initiated a In June 2010, the Office of the Superintendent of Bankruptcy (OSB) initiated a Review of the Trustee Licensing Regulatory Framework. First a little bit of background: the OSB is a division of the Federal Government who has been charged with the administration […]
Last week we provided our thoughts on whether or not Credit Counsellors should be licensed to administer consumer proposals in Canada. The Office of the Superintendent of Bankruptcy (“OSB”) is currently conducting a policy review. One topic they are considering is whether or not they should implement specialized licenses for bankruptcy trustees. Currently all bankruptcy […]
The Office of Superintendent of Bankruptcy is a special operating agency associated with Industry Canada, part of the federal government. The “OSB” regulates bankruptcy trustees (the people who administer bankruptcies and proposals, and ensure they comply with all aspects of the Bankruptcy and Insolvency Act). As the regulator, the OSB will often seek the input […]
Last week I discussed what sunburn can teach us about bankruptcy in Canada. I made the comment that I had met with numerous Canadians in financial trouble who had commented to me about sunburn, and what to do about it. Over the last few weeks I’ve had a lot of people comment about a news […]
