111 Waterloo Street, Suite 310
London, ON N6B 2M4

Debt Management Program or Proposal

January 11, 2018

Debt Management Programs are offered by non-profit Credit Counsellors while only Licensed Insolvency Trustees can file Consumer Proposals. There are advantages and disadvantages to each option. In this blog we will discuss the differences and how each works. The parties: A Debt Management Program (“DMP”) is a voluntary arrangement between you and some of your […]

Joint Bankruptcies and Proposals

January 9, 2018

The Bankruptcy & Insolvency Act has provisions that allow for both joint bankruptcy and joint proposal filings. The filings can be between individuals who are related and financially codependent or individuals who are conjoined only by the debts they owe. Interestingly the Act does not prescribe a limit to how many people can be considered […]

Credit Re-Builder Programme

January 8, 2018

Call to learn more about our new credit re-builder programme and get your new year off to a good start. We will help you through all the steps necessary to re-establish credit and get yourself back on target for living within your means. Whether you have filed a bankruptcy or a proposal or simply need […]

Understanding Surplus Income and Bankruptcy

January 8, 2018

The Bankruptcy and Insolvency Act has a provision (under Section 68) requiring that individuals who make more money than the Government’s Low Income Cut Off (“LICO”) should pay half of that extra or “surplus” for an additional period of twelve months. If that thought seems a bit overwhelming it is not surprising, the whole surplus […]

Re-establishing credit during a bankruptcy

January 3, 2018

Yes, you can re-establish credit even though you are currently in a bankruptcy or a proposal.  There is nothing under law that prohibits you from obtaining credit while going through a bankruptcy.  Section 199 (b) of the Bankruptcy & Insolvency Act requires that you notify the lender you are an undischarged bankrupt if you are […]

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