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Category: Insolvency News
Interest 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.
No More Debts
Just imagine having no more debts, being and living completely debt free. It seems that such a notion is impossible, unless you have a very significant income stream. Debt is a bi-product of poverty and as poverty grows so does debt. It is inconceivable that people would simply go into debt because “it’s cool” or […]
Second Mortgage
Second mortgages sound like a good idea but they can have serious pitfalls. Meet with a Licensed Insolvency Trustee before you commit to something you may regret later.
Bankruptcy is Good
Despite all the stigma, bankruptcy is good for helping you solve debt problems. In fact, bankruptcy is one of the best tools in your arsenal for solving difficult debt problems. It’s cheaper than filing a proposal, it usually doesn’t linger as long on your credit report as a proposal typically will. Another reason bankruptcy is […]
Proposals to Creditors
Proposals to creditors are more popular than bankruptcies, in fact more than half of all insolvency filings are proposals. But why the surge from behind? Until about five years ago most consumers chose to file bankruptcies over proposals. Several things have happened to bring about the change, recidivism, surplus income, property valuation and trustee fees […]