Blog Articles

New Car

September 26, 2019

Cars, cars, cars, Canadians love their cars – new cars used cars, beater cars, winter cars, summers cars, sports cars, have we got a car for you!

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Financial Literacy

September 24, 2019

Many professionals who work in the financial industry are functionally financially illiterate, only comprehending a specific area of expertise. Consumer finances have become extremely complicated in recent decades.

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Easy Credit

September 12, 2019

Easy credit has tremendous appeal to the broke, broken and downtrodden, but at what cost?

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Houses in Bankruptcy

September 4, 2019

Real property values have seen explosive growth in some markets in recent years. Requiring trustees to review the assessed values prior to discharge. To avoid surprises many debtors are filing proposals.

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Budgets and budgeting

August 30, 2019

Budgets and budgeting are intrinsically associated with filing an insolvency proceeding. Canadians, generally, are not very good at budgeting, but poorer people are better than wealthier people.

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Inheritances in bankruptcy

August 16, 2019

What would happen if you came into an inheritance after you filed for bankruptcy?

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Insurance policies

August 15, 2019

Insurance is something that we tend to buy in a reactive manner, without adequate planning. Insurance can be expensive and, even though purchased with premiums paid over a long term, coverage may be denied.

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RESPs in bankruptcy

August 13, 2019

If you are contemplating a bankruptcy you need to know what happens to your assets, including RESPs.

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Did you know

August 12, 2019

Did you know there are many aspects about our economy that are not discussed, especially related to debt?

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Minimum Payment Changes

August 2, 2019

More rules and regulations are required to cool off rising debt trends in Canada. The new Quebec are a great first step, hopefully leading to a nationwide policy change.

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Latest credit card numbers

July 25, 2019

The latest credit card numbers are finally out from the Canadian Bankers Association on how Canadian use credit cards. You can follow the link to see for yourself but here’s the highlights and some considerations.

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Credit Repair Scheme

July 22, 2019

It’s difficult to trust anyone these days, it seems that everyone is picking your pockets. Beware of credit rebuilding scams, if they sound to good to be true, they probably are.

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How to find us

July 17, 2019

When you need help dealing with your debt problems – it’s good to know where to find your local Licensed Insolvency Trustee.

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BIA Counselling

July 2, 2019

The Bankruptcy & Insolvency Act, has accompanying Rules and Directives, issued by the Courts and the Office of the Superintendent of Bankruptcy. There is a Directive on counselling requiring that people who file for a bankruptcy or a proposal attend at two counselling sessions, geared towards money management and understanding credit. But just how useful are these sessions?

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Overdraft Protection

June 27, 2019

Too many people get comfortable with their overdraft protection and miss the point of how to use properly, and wisely.

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Congratulations

June 25, 2019

Decisions, decisions, but congratulations on whatever you decide, rest assured it was your choice but you must live with the consequences.

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Enough is Enough

June 20, 2019

Stop kidding yourself, you can’t afford all the debt you and your family are trying to service. It may be the case, for some folks, that you can’t afford not to have the debt – the cost of living has risen faster than your paycheque.

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Bank Accounts

June 12, 2019

Bank accounts are impacted by the filing of a bankrupt, or a proposal for that matter since many of the bankruptcy provisions apply equally to proposals.  Banks may seize funds in accounts as an offset (or setoff) because they have a contractual right to do so.  In other words, if you went bankrupt in the […]

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Interest Rates

June 7, 2019

Collapsing RSPs is no panacea for first time home buyers. Our advice is “don’t do it” – the long term implications can be dire. The biggest beneficiaries are the lenders not the borrowers.

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Rebuild Your Credit

June 5, 2019

We see that slogan everywhere “rebuild your credit” everyone seems to be using it from mortgage lenders through to used car salesmen.   But, caveat emptor (buyer beware) things may not be what they seem.  Usually when I hear the expression “rebuild your credit” the first thing that comes to mind is “high interest” and the […]

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