Can I retain my bank account in a bankruptcy or consumer proposal?

The number of people who have had the same bank account since they were children is surprising. They feel a sense of dedication to their financial institution and have a relationship with their local branch. I am often asked if they can retain their bank account if they file a bankruptcy or proposal. The answer is – it depends. If you owe If you owe [...]

Can I retain my bank account in a bankruptcy or consumer proposal?2024-02-07T11:31:04-05:00

Be Cautious of Scams

Unfortunately, it seems there are more and more predators attempting to take advantage of honest people.  Just last week, a colleague at my office received an email that appeared to come from me requesting they do me a big favour and purchase gift cards as a thank you for our staff.  Luckily my colleague was alert and recognized the email address was suspicious. Some common [...]

Be Cautious of Scams2023-01-31T10:54:27-05:00

Debt Help in St. Catharines

I just read an article in the Financial Post, that stated Canadians would rather incur more debt to fund their monthly cash flow shortfall than to seek the advice of a professional.  As a Licensed Insolvency Trustee (“LIT”), and thus a professional in debt solutions, I recommend anyone overwhelmed by their debt to consult with a LIT before incurring more debt.  If your credit rating [...]

Debt Help in St. Catharines2021-04-09T14:36:23-04:00

Her Majesty the Queen and Callidus Capital Corporation

We have highlighted some of the more relevant factors considered in the case. Essentially the case outlines the Court’s perspective on whether the bankruptcy of a tax debtor and subsection 222(1.1) of the Excise Tax Act R.S.C. 1986 c.E15, as amended (the “ETA”) renders the deemed trust under S.222 of the ETA ineffective as against a secured creditor who received, prior to a bankruptcy, [...]

Her Majesty the Queen and Callidus Capital Corporation2020-03-02T09:59:40-05:00

Misconceptions About Personal Insolvency

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 [...]

Misconceptions About Personal Insolvency2018-08-20T12:52:14-04:00

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

Financial Consumer Agency of Canada – Consumer Alert – Debt Reduction Companies: Beware of “Too Good to be True” Offers2018-08-20T12:45:36-04:00

Sign of the Times

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 [...]

Sign of the Times2018-08-20T12:48:54-04:00

Be Prepared for the NIQP’s Challenges – Rebuilding Success, Spring 2006 issue

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 [...]

Be Prepared for the NIQP’s Challenges – Rebuilding Success, Spring 2006 issue2018-08-20T12:44:37-04:00
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