Have you ever gone to the ATM machine and taken out cash, then before you realize, it’s all gone and you’re left scratching your head as to where it all went? It’s time to get in touch with your money and that starts with creating a budget. Okay, it may not be the most exciting thing for you to do, but it’s an important [...]
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So far Kathy Lenart has created 40 blog entries.
As stressful as the decision to file bankruptcy is, it’s even more so if you own a home. Consumers who are having trouble meeting their monthly financial obligations may also start missing mortgage payments and then worry about losing their home. The advice they keep getting is to NOT file for bankruptcy because they will lose everything. They may hesitate to contact a Trustee [...]
The holidays are over and now the credit card bills are coming in on top of those utility bills you may have delayed or that missed rent or mortgage payment just to get through the season. Instead of feeling overwhelmed, dive right into that pile of debt and start tackling the problems. Make 2013 the year you finally resolve to get a handle on [...]
You may have been struggling with your debt for a while hoping things would get better – but are you at the point where you should seek professional advice? Take a minute to answer the following questions: Are you borrowing money to make it from one payday to the next? Do you take cash advances from one credit card to pay another credit card? [...]
Amendments to the Bankruptcy and Insolvency Act Effective September 18, 2009, significant changes were made to the Bankruptcy and Insolvency Act to streamline procedures and to ensure consistency amongst Trustees. One of these changes is in relation to surplus income payments. The legislative changes now require that if your income exceeds a base amount set by the Superintendent of bankruptcy, you will be required to [...]
Your creditors are calling from the early hours of the morning until late evening. They are pressing you to beg and borrow funds to pay their debt and can be very threatening. Unfortunately, there is no sympathy to your personal situation and the tone of these calls and the statements made can create fear, conflict, stress and anger. The only objective of a collection [...]
A personal bankruptcy will remain on your credit rating for six years from your discharge from bankruptcy. A consumer proposal will remain on your credit rating for three years from completion of your proposal. Once you are discharged from bankruptcy or completed your consumer proposal, you should take pro-active steps to rebuild your credit. The following will assist in rebuilding: talk to your current bank manager open a [...]
Financial Consumer Agency of Canada – Consumer Alert – Debt Reduction Companies: Beware of “Too Good to be True” Offers
The Financial Consumer Agency of Canada (FCAC) ensures federally regulated financial entities comply with consumer protection measures, promotes financial education and raises consumers’ awareness of their rights and responsibilities... Read Full Article
During uncertain economic times it can be challenging for mortgage professionals, especially those new to the field, to find avenues for financial growth. Housing markets are depressed; consumers are worried about job stability; financial markets are sputtering and consumers are overextended. On top of all that, banks have tightened up their lending criteria, forcing many consumers to take uncomfortable steps to get themselves out [...]
If you are planning to take the National Insolvency Qualification Program, you had better come prepared. Composed of five courses and three separate exams, NIQP was created in 1998 as a streamlining effort to certify bankruptcy trustee candidates. The program, as explained by Superintendent of Bankruptcy Marc Mayrand in a 1997 release from Industry Canada, was created to, “ensure a consistent national approach to [...]