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Financial Literacy
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.
Read moreEasy Credit
Easy credit has tremendous appeal to the broke, broken and downtrodden, but at what cost?
Read moreHouses in Bankruptcy
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.
Read moreBudgets and budgeting
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.
Read moreInheritances in bankruptcy
What would happen if you came into an inheritance after you filed for bankruptcy?
Read moreInsurance policies
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.
Read moreRESPs in bankruptcy
If you are contemplating a bankruptcy you need to know what happens to your assets, including RESPs.
Read moreDid you know
Did you know there are many aspects about our economy that are not discussed, especially related to debt?
Read moreMinimum Payment Changes
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.
Read moreLatest credit card numbers
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.
Read moreCredit Repair Scheme
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.
Read moreHow to find us
When you need help dealing with your debt problems – it’s good to know where to find your local Licensed Insolvency Trustee.
Read moreBIA Counselling
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?
Read moreOverdraft Protection
Too many people get comfortable with their overdraft protection and miss the point of how to use properly, and wisely.
Read moreCongratulations
Decisions, decisions, but congratulations on whatever you decide, rest assured it was your choice but you must live with the consequences.
Read moreEnough is Enough
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.
Read moreBank Accounts
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 […]
Read moreInterest Rates
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.
Read moreRebuild Your Credit
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 […]
Read moreLiving in Canada
Living in Canada is extremely challenging and not getting easier. The cost of living continues to increase faster than incomes and taxation is not helping. Adding the new carbon tax to the mix it is highly likely that Canadian consumers are paying more than half of their income in some form of taxation. Paper, ordinary […]
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