Bankruptcy – second time around

You’ve been bankrupt once due to life circumstances – a job loss, a divorce, lack of knowledge about managing debt, or other issues. Once discharged from bankruptcy, you started to claim your life back, re-built your credit rating and acquired debt. Life is full of reoccurring challenges and you may find yourself dealing with serious financial issues again. You may consider filing for bankruptcy [...]

Bankruptcy – second time around 2018-08-20T12:53:11+00:00

Why Choose a Consumer Proposal?

You make a decent income and own your own home but can’t seem to reduce your total debt load even though you make your monthly payments on time. The 29% interest charged on some credit cards makes it difficult to reduce the principal debt owing. A consumer proposal may be the solution that will finally provide you a plan to eliminate your debt. A few [...]

Why Choose a Consumer Proposal? 2017-12-05T20:00:01+00:00

Selecting the right Trustee in bankruptcy

Finding a Trustee in bankruptcy is easy – just Google “bankruptcy” or flip through your phone book. Selecting a Trustee may be more difficult. Why? Taking the step to even explore the idea of bankruptcy is an emotional decision. No one wants to feel as if they failed. No one wants to let someone else know they’ve had trouble managing their finances. Yet, however [...]

Selecting the right Trustee in bankruptcy 2018-07-13T11:58:51+00:00

CHML Ask the Expert regarding bankruptcy and consumer proposals – October 12, 2013

Statistics published by the Office of the Superintendent of Bankruptcy report insolvency filings by debtors aged 45 – 64 makes up 43.6% of the total filings for the year 2012. On Saturday, October 16, 2013 I appeared on CHML Ask the Expert with host Shiona Thompson to discuss how a Trustee in Bankruptcy can help provide relief of a significant debt burden. Listen to the [...]

CHML Ask the Expert regarding bankruptcy and consumer proposals – October 12, 2013 2017-12-05T20:00:45+00:00

How can my business survive when clients don’t pay?

There are nearly 1.2 million small businesses in Canada – employing 5.1 million people and accounting for 48.3 per cent of Canada’s total workforce. Small businesses contribute slightly more than 30 per cent to Canada’s GDP. That makes small business, big business. Most small businesses rely on accounts receivables to maintain their cash flow. Sometimes customers get into a habit of paying late, which [...]

How can my business survive when clients don’t pay? 2017-12-05T20:01:16+00:00

The initial consultation – what to expect

It’s a daunting task – to decide whether to file for bankruptcy. This is exaggerated if you have no idea what to expect and what options are available to you. Furthermore you might be embarrassed by your financial situation. Initiating contact with a Trustee can be a difficult decision, however, it may be the best decision you have made in years. The balance of [...]

The initial consultation – what to expect 2017-12-05T20:01:37+00:00

Tax time and your tax debt

It’s tax time again and you’re dreading filing your tax return because you still owe taxes from last year. On top of that, your debts continue to increase and it’s getting harder to make ends meet. You’ve considered bankruptcy but are unsure if it will clear your tax debt. Similar to your other debts, taxes are generally dischargeable debts.  That means the tax debt [...]

Tax time and your tax debt 2018-08-20T13:12:23+00:00

Stopping a Wage Garnishment

It can be embarrassing to hear from your employer that your wages have been garnisheed. Nobody wants their employer to know their personal business, especially if you are having financial problems. A wage garnishment could also have a devastating effect on your current household budget, making it more difficult to make ends meet. A garnishment order means that one of your creditors has taken [...]

Stopping a Wage Garnishment 2018-08-20T13:17:42+00:00

Refinance your home or consumer proposal

Your debt has become unmanageable; you can’t sleep at night; and your stress levels are at an all time high. You’re desperate to reduce those balances. Your main concern is that you own your home and there is equity in it. If your credit rating is still good – a viable option may be to refinance your home to reduce your debt. However, if [...]

Refinance your home or consumer proposal 2017-12-05T20:02:23+00:00

Will I lose my house in a bankruptcy?

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 [...]

Will I lose my house in a bankruptcy? 2017-12-05T20:03:17+00:00