519-646-2222Blog Articles
Last Will and Testament
One of the most important documents you can have is your last will and testament. Sadly, it is a document that a lot of people either do not have or have failed or neglected to update. We all work hard to try to acquire “stuff” throughout our lives, never knowing when the end will come […]
Read moreCredit Cards
Credit cards have been around for over a hundred years but the way they are used has changed. Early credit cards were basically “charge cards” that allowed the user to charge specific goods or services to an approved account that would have been paid in full at the end of each month. An example would […]
Read moreLying about debt
Did you know that 20% of couples lie to each other about how much debt they have? Although that is the reported number the actual number of people lying about debt may be higher. Many friends and family members lie about the debts they have, it may be easier than not be able to attend […]
Read moreInitial Consultation
Your initial consultation with our firm is completely free, so are most follow up appointments. Some of our clients need more than one initial consultation, we promise not to rush you or try to rush you into making an important decision about dealing with your creditors. During the initial consultation we will review all your […]
Read moreFraud
The word fraud scares many debtors, especially if they told white lies on credit applications, etc. But is that white lie, error or omission enough? Generally speaking the answer is no, fraud must be meticulously argued and proven in court it is not enough that a situation has “the badges of fraud” (or prima facie […]
Read moreSuperintendent of Bankruptcy
Who is the Superintendent of Bankruptcy? The Superintendent of Bankruptcy is government appointed official who serves a term of not more than five years in the post, subject to renewal. The Superintendent has extensive powers that are conferred pursuant to Sections 5 & 6 of the Bankruptcy & Insolvency Act. Although headquartered in Ottawa, the […]
Read moreCMHC Insurance
The cost of paying CMHC insurance (or similar private insurance) is very high and one that consumers should be properly advised on and educated about. The CMHC was formed in 1946 with a mandate to help provide housing for returning WWII veterans. Its mandate has subsequently been expanded several times by successive governments. In 1954 […]
Read moreMinimum wage and debt
Incomes in Canada are not keeping pace with the cost of living which is driving people to be more dependent on credit cards. Minimum wage earners , as evidenced in the linked CBC story, are highly likely to incur debt they can’t realistically manage. According to Statistics Canada incomes increased between 2012 and 2016 by 1.8% […]
Read moreStep by step
Step by step guide to filing a bankruptcy or proposal. 1. Meet with a Licensed Insolvency Trustee – at Locke Consulting there is no charge for initial consultations. 2. We will discuss and review all your debt relief options – when appropriate we will refer you to another trusted professional for help. 3. You may […]
Read moreBorrowed debt relief
Get out of debt today with a new loan! Does that statement make any sense to you? How can you possibly borrow your way out of debt? There is no such thing as borrowed debt relief, it is simply a case of moving the debt from one pocket and putting it in another. The only […]
Read moreInflation, debt and income
Inflation, debt and income all impact the family budget. The cost of living, based on a basket of 1953 goods (which is vastly divergent from what one might expect in 2018), increased by a mere 1.32% between 2016 and 2017. Over the same period the use of debt (credit) increased by nearly 5%. Incomes increased […]
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