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Wendy’s Column: Answers to Questions

Most Recent ‘Wendy’s Column’ Posts

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 […]

Self-Employed? Feeling a Pinch During Income Tax Season?

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 […]

Debt Assistance Companies – Can They Help?

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 […]

Consumer Proposal/Bankruptcy – “The Easy Way Out”?

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 […]

Basic Income in Ontario – Would It End Personal Bankruptcies?

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, […]

Changes in Ontario Student Aid Will Lower Student Debt

Improvements to Ontario’s student aid system were unveiled in the Ontario budget this week. Lauded by all levels of Ontario’s education system and by student advocacy groups, these changes aim to make college and university more affordable for students from lower-income homes. Under the new legislation, which will begin phase-in in 2017, students from families […]

How Could This Have Happened? I Thought I Was Smart and in Control!

For most who realize they are in serious financial difficulties, it’s a very rude awakening! Are you reading this because you feel this way? You are far from alone. The thing is, until we find ourselves in this situation (I filed a Consumer Proposal in 2009), we have probably believed certain fallacies. The key untruth […]

I Need Money to Run My Household – Can I Go Bankrupt?

“If I file for Bankruptcy, will I have the means to support my family?” “I’ve heard it costs money to file for Bankruptcy, and I don’t have enough as it is – how can I afford it?” It seems like a catch-22 – you have very little money, and the solution itself carries costs. These […]

I Feel Ashamed of My Situation – Are Most Debtors Irresponsible People?

I filed a Consumer Proposal in 2009. I remember the awful feelings I had leading up to my decision to see a Trustee (hint: I felt much better once I’d consulted with him). Since I completed the Proposal, I’ve spoken to others who have been in the same situation, and felt the same way. How […]

How Will Bankruptcy or Consumer Proposal Affect My Credit Rating?

I filed a Consumer Proposal in 2009, after realizing that despite all the strategies I had been trying (including buying nothing but the essentials), I soon would not be able to pay all my bills. Like me, some debtors know they are getting into serious trouble even before they miss any bill payments. Others have […]

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