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Managing Debt

September 5, 2017

Some things you need to know about managing debt: To manage debt effectively means to use it appropriately and if you are carrying debt from one month to another you are probably not using it appropriately. Debt should be used as a short-term arrangement to facilitate some improvement in lifestyle – such as the acquisition […]

THE TAX MAN COMETH

September 5, 2017

“Tax season” only exists for accountants, for the rest of us it’s always tax season. You may have noticed that the CRA does not restrict its collection of outstanding taxes  to the tax season, it’s always open season for non-compliance. You can be non-compliant in filing required forms and reports and you can be non-compliant […]

ON THE LIGHTER SIDE OF DEBT

September 5, 2017

Does this sound familiar? Dear Abby, I am a twenty-three-year-old liberated woman who has been on the pill for two years. It’s getting expensive and I think my boyfriend should share half the cost, but I don’t know him well enough to discuss money with him.

REDUCE YOUR DEBT BY MORE THAN 90%

September 5, 2017

Consumer proposals can reduce your debts by more than 90% There are no fixed rules regarding how much you should offer your creditors in a proposal beyond the notion that a proposal must improve on the returns that your creditors would get from a bankruptcy and must cover the trustee’s fees. We have seen proposals […]

Do not fear a Section 161 Examination

September 5, 2017

Section 161 of the Bankruptcy & Insolvency Act allows the Official Receiver to conduct examinations under oath. That all sounds very scary but the practice need not be as intimidating as it sounds. There are a couple of things you need to know if you are called in for an examination. First, anything you say […]