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Category: Insolvency News
Credit 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.
How 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.
BIA 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?
Bank 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 […]
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.