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Category: Insolvency News

HARPER GOVERNMENT PLAN TO ENRICH THE WEALTHY

September 5, 2017

The idea was proposed in a hotter real-estate market than we are experiencing London, Ontario, but the effect will be the same. The federal government’s latest scheme to enrich the wealthy at the expense of the poor is to encourage and facilitate the liquidation of RSP savings, in larger amounts than is currently permitted, to […]

HAVE YOU EVER ASKED YOURSELF “WHY DID I SIGN THAT?”

September 5, 2017

I’ll bet that many people have, and usually right after something they co-signed for has gone awry.   Most people seem not to think of it this way – when they hear about loan refusals or people not qualifying for a mortgage and so on – but banks are in the business of lending money. Banks […]

ARE YOU IN PERPETUAL DEBT?

September 5, 2017

Make no mistake, lenders make money from indebtedness – your indebtedness. When you are in debt you pay regular monthly residuals to the bank in the form of interest – which is fair enough after all you borrowed money and you should expect to not only pay it back but pay some interest on it. […]

WHAT IS AN AVERAGE INCOME?

September 5, 2017

Statistics Canada compiles oddly confusing information that seems to suggest that average Canadian income levels are higher than they really are.  Part of the problem is that in their calculations they factor high income earners into the averages.    Of an estimated 25.5 million people – from the 2011 calculations – we find that the average […]

BANKRUPTCY VERSUS PROPOSAL – WRITS TREATED DIFFERENTLY

September 5, 2017

The earlier you talk to a trustee the more options are available for you. If a creditor had registered a judicial lien on your property (writ of execution) and you filed a bankruptcy the writ is removed by the Stay of Proceedings right away.  This is because your interest in the property now vests in […]

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