519-646-2222Blog Articles
Merry Christmas
Merry Christmas to all our clients, friends, colleagues, associates and respective families. We hope you have a safe an enjoyable holiday season and remember to drive safely and cautiously, especially under extreme weather conditions. Our office will be answering client inquiries throughout the holiday period and will open as usual on December 27th and 28th, […]
Read moreDebt is Debt
At the end of the day debt is debt, we hear people talk about good debt and bad debt but no matter what debt is still debt. A mortgage company is advertising “get out of debt using the equity on your home” – that is not “getting out of debt” that is simply moving debt […]
Read moreDebt Freedom Plan
What is a Debt Freedom Plan: A debt freedom plan is exactly what it sounds like, a plan to help you get, and remain debt free. Get out from under the burden of debt and all that it entails, money worries, family problems, self-esteem problems, depression and stress. Freedom vs. Responsibility: Being free from debt doesn’t […]
Read moreDebt Crisis
You, or someone you know, may be in a debt crisis, or have one pending. The IMF (International Monetary Fund) is warning of another global financial collapse. A debt crisis can be international, national or simply personal, but the impact is always the same – financial hardship. The last big collapse we saw was in […]
Read moreBudget Better
Well that sounds like a plan, let’s all budget better! It’s easy enough to say but challenging to implement. Just think of all the expenses you have that are unnecessary and superfluous – coffee on the way to work, lunches, junk food, booze, cigarettes, gifts, expensive clothing, vacations, home repairs. Your list (of potential savings) […]
Read moreChristmas Bankruptcy
Of all the things people wish for a Christmas Bankruptcy seems far down the list, but there are reasons why it may be a very good time of the year to file. The first reason is obviously getting a fresh start in time for the new year. Another very good reason to file a bankruptcy […]
Read moreCourt Backlog
The London, Ontario, (Bankruptcy) Court backlog is starting to pile up. Licensed Insolvency Trustees are experiencing a backlog of matters involving discharge hears, proposal approvals and revivals as well as taxations. This will have an impact on a significant number of people including those filing three or more bankruptcies or those who have not properly […]
Read moreJob Loss
There are many different triggering events that cause people to file a bankruptcy or a proposal, but job loss is a leading factor. Job loss may mean a temporary interruption in cash flow or a permanent downturn in personal income. In rare cases job loss may be a step towards career advancement and although there […]
Read moreSaving Money
Many books have been written on how to save money and how to get rich quick, yet there are relatively few millionaires running around in attestation to the efficacy of these schemes. Generally, the notion is always the same, “pay yourself first” they say. Some authors prescribe a savings value based on percentages of income, […]
Read moreCar Loan Mortgage
The latest money-making venture for mortgage lenders is car loans, yup, a car loan mortgage. Here’s how it works. So, you have a little equity in your house, a heartbeat and a pen, that’s all you need. Oh, and you really, really want a new car. You tried the dealership, but your credit rating is […]
Read moreReal estate bidding wars
Real estate bidding wars have become the new normal, well relatively new. Realtors’ practices have changed and evolved over the years. It used to be that a house would be priced close to the expected final sale price and if the Realtor had done his or her homework the deal would usually close within 10% […]
Read moreHow Much Debt is too Much?
Just how much debt is too much? You’ll surely know when you start to pay it back. Currently, Canadian Chartered Banks have no expectation that you will ever repay your debts, in fact they want you to remain in state of perpetual debt. We have blogged about the effect of making only minimum monthly payments […]
Read moreEasy Money
The headline reads “the world of easy money transformed Canada into debt nation”. But that isn’t exactly true – it is the world of irresponsible banking that made it appear we have easy money. We’ve said it before, Canadian chartered banks issue credit cards on repayment terms that extend over hundreds of years. That is […]
Read moreFacebook.com
How frustrating is Facebook.com? It is your source for whatever you want, you can find supportive views and you can find negative oppositional political (particularly) rhetoric all over Facebook.com. What’s your poison? If you are a little leftish leaning you can find like minds, if you lean to the right you can also find like […]
Read moreSeparate Before Bankruptcy
It is important to separate before bankruptcy, just to make sure you get your ducks lined up properly. Here’s the logic, if you are facing the possibility of an equalization claim from your spouse for assets that are otherwise exempt from seizure by your creditors you may find bankruptcy helps you keep them. Let’s say […]
Read moreBankruptcy is Important
It may sound strange like a strange thing to say but bankruptcy is important, very important. Our whole economic system has changed very dramatically over the last one hundred years. My grand parents bartered with their farmer neighbours for goods and services. In fact, right up until the late 1940’s, much of our economy was […]
Read moreBanking in Canada
Banking in Canada has changed dramatically over the past several decades. The greatest changes have been in the delivery of services to bank clients. Banks have changed from trusted institutions to high pressure financial sales outlets, and these changes have been well documented by national media outlets. Major banks including TD and RBC banks have […]
Read moreBest Credit Card
The best credit card for you might be the one with the highest interest rate, if you don’t carry balances from month to month. If you do carry balances from month to month then of course the best credit card for you might be one with one with a lower interest rate or better repayment […]
Read moreWill I Lose My Car?
When people are considering their options under the Bankruptcy and Insolvency Act they often ask “will I lose my car?”. The answer is based on circumstantial information (your particular set of circumstances that is) that we may not have. The short answer is “probably not” although it may be “it depends”. If you have ceased […]
Read moreA Trustee’s Perspective
Let’s talk about a Trustee’s perspective on the difference between a proposal and a bankruptcy filing. Trustee’s are businesspeople, like other entrepreneurs Trustee’s are in the business of making money. There are limited ways any business can make money, it can increase sales, decrease costs or do a combination of the two. From a Trustee’s […]
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