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Bankruptcy Counselling Changes

October 30, 2017

The Office of the Superintendent of Bankruptcy is contemplating sweeping changes to the Counselling Directive, which if implemented will dramatically affect the spin off industry. The mandatory counselling protocol has been in place since about 1997. It required that counsellors be certified after completing a brief training component. Not profit agencies had their staff certified […]

Do you have ZOMBIE debts?

October 26, 2017

The term “zombie debts” usually applies to debts that “haunt you” for a long time after you thought they were dead. These may include debts that are no longer owed because they were paid out or even statute barred debts. But in fairness the term should equally apply to credit card debts from Canadian chartered […]

You should plan for your bankruptcy

October 18, 2017

That’s right, you should plan for a bankruptcy in the same manner as you would plan for a critical illness or any other unfortunate occurrence that may come your way. You are probably worried that in the event you became critically ill you could lose everything you own. By the same token you ought to […]

Surplus Income

October 16, 2017

In a bankruptcy proceeding surplus income is to be calculated by your trustee who is required to consider the guidelines provided by Directive from the Office of Superintendent of Bankruptcy.  The guidelines are based on the LICO (or Low Income Cut Off).  You might think of the LICO as being a poverty line. The LICO […]

Taxes – The Scourge of Small Business

October 16, 2017

We have solutions for your tax dilemma. Small business owners face tremendous challenges in dealing with taxes and taxation. The challenges are multifarious beginning with excessive taxation, as well as rules and regulations around the calculation, reporting and payment of taxes. Nothing is simple about Canadian tax laws. Small business owners are often talented craftsmen […]

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