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Category: Insolvency News

Government debt forgiveness

March 9, 2018

Are you thinking about government debt forgiveness? Advertisements are everywhere “see if you qualify for debt relief” touts one google headline, “government debt relief programs” says another. Even Licensed Insolvency Trustees are involved, albeit not by design, in the deception. Yes, read that last bit again: we used to be called “Trustees in Bankruptcy” but […]

Good debt, bad debt

March 8, 2018

I’d rather have good debt than bad debt, how about you? Good debt, bad debt, it’s all debt – how on earth can one form of debt be called and another bad? O.K. so, some folks might think bad debt is delinquent debt, others may differentiate along the lines of the type of debt, cash […]

Pensioners and debt

March 7, 2018

Pensioners relying on CPP, OAS and GIS have about $1,100 per month of income.  The Canadian government has established the poverty line (Low Income Threshold) at over $2,100 per month, effectively setting seniors up to fail. We live in an aging population with an increasing number of Canadians becoming entirely dependent on government pensions as […]

I can’t go bankrupt on only $5,000

March 7, 2018

There is no magic number or threshold that must be reached to be eligible to file a bankruptcy or proposal, some people think “I can’t go bankruptcy ononly $5,000”. The reality is that $5,000 for some people might as well be $5,000,000 based on their means. Although it would not make any sense to file […]

Proposals starting at $40.00 per week

March 6, 2018

Although that may not be the best way or most appropriate way to advertise it is true, consumer proposals starting at $40.00 per week are available to some qualified people. So, what do you need to qualify for such low payments? You need stable income, you generally need to have a lack of means (to […]

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