Who Goes to See a Licensed Insolvency Trustee? Part 3

Everywhere you look there are reports on the record level of debt that Canadians are carrying.  Surprisingly, the number of insolvency filings has actually decreased substantially from ten years ago.  With low interest rates and low unemployment, some debtors are managing to continue to make their monthly payments and pay down their debt.  Many are not able to find a solution on their own, which [...]

Who Goes to See a Licensed Insolvency Trustee? Part 3 2018-09-07T09:40:40+00:00

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

Separation, Divorce and Bankruptcy

The decision to separate or divorce is never an easy one. Combined with the emotional stress of having less income, paying lawyers, having higher costs because of operating two households, and paying alimony and support, it’s easy to see why the financial strain of divorce is one of the top reasons people file for bankruptcy. This is a complicated area especially if only one [...]

Separation, Divorce and Bankruptcy 2018-07-13T11:40:43+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

Bankruptcy and your 407 ETR debt

Until January 2014, any debts owing to 407 ETR could result in a license plate denial – even if you filed for bankruptcy. Generally, the federal law states that debts that existed prior to an assignment in bankruptcy are erased after your discharge from bankruptcy. This “fresh start” principle allows an insolvent person to get back on their feet and move forward without the [...]

Bankruptcy and your 407 ETR debt 2018-08-20T13:11:16+00:00

A Special Thank You

Most people go to work every day and perform their daily tasks because that is what they are paid to do. At Taylor Leibow, we take pride in the fact that what differentiates us from our competitors is the professional, non-judgmental, compassionate and caring manner in which we treat every debtor that enters our offices. Receiving a thank you letter, like the one below, [...]

A Special Thank You 2017-12-05T20:00:31+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

Can I afford to file for bankruptcy?

You’re drowning in debt and something needs to be done but you’re worried about the costs of going bankrupt. Can you afford to file for bankruptcy? Even though you are struggling to make ends meet, there is a minimum fee that a Trustee in bankruptcy is required to charge to file your bankruptcy. The minimum fee ranges from $1,800 to $2,000 for a first [...]

Can I afford to file for bankruptcy? 2018-08-20T13:03:57+00:00

Debt Advice for Seniors

There’s a real fear among Canada’s five million seniors and boomers who are approaching their retirement years that they may not have enough money to have a comfortable retirement. Media reports about under-funded pension plans have added to those concerns. According to a national survey conducted for the Canadian Institute of Chartered Accountants (CICA), half of Canadians admit to worrying about money. Another study [...]

Debt Advice for Seniors 2018-07-13T11:44:54+00:00

Can I keep my car in a bankruptcy?

This is a common concern to many individuals considering bankruptcy as a vehicle is needed to travel to work in order to earn an income. In most cases, the answer is yes. In Ontario, there is an exemption for you to retain a personal vehicle up to a liquidation value of $5,650. If you own your car free and clear, with no liens, and [...]

Can I keep my car in a bankruptcy? 2017-12-05T20:01:30+00:00