Category: Something to Think About

• Something to Think About

You may have thought Venezuelans were in trouble, you already owe twenty-four (24) times more debt that them. What are you going to do about it?

• Something to Think About

The credit card business is one that everyone wants to be in on, including Apple (the computer guys).  Unfortunately, the banks have a virtual monopoly and make it challenging for anyone else to enter the playground. Here’s how the business works, in the simplest terms:  Lend someone something that doesn’t exist on terms of repayment […]

• Something to Think About

Credit is a whole lot easier to get following a bankruptcy or proposal filing than you might expect.

• Something to Think About

The media seems to be getting more and more lax in its reporting as time goes by. If all Sunshine List members earning less than $152,000 per annum are dropped we get a more meaningful picture.

• Something to Think About

Things aren’t always the way they seem, especially with low interest loans.  The idea of low interest loans is attractive especially to people who are on the threshold of financial collapse.  We’ve previously blogged about low interest and how a low interest consolidation (into a mortgage) compares in cost to paying higher interest credit cards.  […]

• Something to Think About

To all our clients, families, friends and colleagues we wish you a very Happy New Year and hope you enjoy good health and prosperity.  I am reminded of a couple of quotes that seem appropriate for this time of the year. “Forget your past, forgive yourself and begin again right now.”  —Osho “When I let […]

• Something to Think About

Merry Christmas to all our clients, friends, colleagues, associates and respective families.  We hope you have a safe an enjoyable holiday season and remember to drive safely and cautiously, especially under extreme weather conditions. Our office will be answering client inquiries throughout the holiday period and will open as usual on December 27th and 28th, […]

• Something to Think About

The London, Ontario, (Bankruptcy) Court backlog is starting to pile up.  Licensed Insolvency Trustees are experiencing a backlog of matters involving discharge hears, proposal approvals and revivals as well as taxations.  This will have an impact on a significant number of people including those filing three or more bankruptcies or those who have not properly […]

• Something to Think About

Real estate bidding wars have become the new normal, well relatively new.  Realtors’ practices have changed and evolved over the years.  It used to be that a house would be priced close to the expected final sale price and if the Realtor had done his or her homework the deal would usually close within 10% […]

• Something to Think About

The headline reads “the world of easy money transformed Canada into debt nation”.  But that isn’t exactly true – it is the world of irresponsible banking that made it appear we have easy money.  We’ve said it before, Canadian chartered banks issue credit cards on repayment terms that extend over hundreds of years.  That is […]

• Something to Think About

How frustrating is Facebook.com?  It is your source for whatever you want, you can find supportive views and you can find negative oppositional political (particularly) rhetoric all over Facebook.com. What’s your poison?  If you are a little leftish leaning you can find like minds, if you lean to the right you can also find like […]

• Something to Think About

The best credit card for you might be the one with the highest interest rate, if you don’t carry balances from month to month.  If you do carry balances from month to month then of course the best credit card for you might be one with one with a lower interest rate or better repayment […]

• Something to Think About

Inflation, debt and income all impact the family budget.  The cost of living, based on a basket of 1953 goods (which is vastly divergent from what one might expect in 2018), increased by a mere 1.32% between 2016 and 2017. Over the same period the use of debt (credit) increased by nearly 5%. Incomes increased […]

• Something to Think About

Depression and debt are two words that are very synonymous with one another, there are of course different types of depression, mental health and global economic. Being in debt is depressing there is no question of that, and being in an economic depression can lead to more debt. Currently the media is rife with speculation […]

• Something to Think About

As a professional with over 23 years of experience in the insolvency industry and more than ten as a Licensed Insolvency Trustee why so many people think bankruptcy is bad. Just that “bankruptcy is bad”. I suppose that no wants to be insolvent, not having enough money to be able to pay their bills, which […]

• Something to Think About

How does that old Bob Dylan song go: “the times they are a changing”. When we think about changing times, economically speaking, the best time to be alive was probably in the 1950’s to 1970’s, those were the glory days for the Canadian economy. It was the first time in history that one income could […]

• Something to Think About

Insolvency and pensions are at an interesting intersection and under current Canadian insolvency laws are not good bedfellows.  Although when filing a bankruptcy, the laws do protect the bankrupt’s interest in the pension funds by not requiring that they be distributed among the creditors the same protection is not afforded to the fund itself. We […]

• Something to Think About

Lenders want to lend you money, in fact they are looking for ways to be able to lend you money. To lenders lending is a product just like any other. Lending money is a sure way to make money if you can mitigate the risk of borrowers not repaying debts. The good news is that […]

• Something to Think About

Yes, mortgage funds are available for people of most income levels. The interest rates and terms may be different for people with lower or less stable incomes, such as self-employed people, but mortgage funds are available from different lenders. We have been advised by lending industry representatives that there are new challenges facing people who […]

• Something to Think About

So, you are thinking of taking the plunge and starting a new business venture.  Taking the first few steps on the path to entrepreneurship is exciting, risky and scary.  As you embark on your new venture, be sure you do your homework to minimize your exposure to risk, that will help take some of the […]