Taxes and debt relief are two of the most complex aspects of Canada’s financial system. Going through a debt management process like a consumer proposal or bankruptcy is tricky as is, but it’s made even more difficult when considering how they change your tax filings and refunds. This blog will demystify the connection between a … Continue reading How a Consumer Proposal and Bankruptcy Affect Your Tax Refund
We hear this question all the time; what is a consumer proposal, and how will it affect me? A consumer proposal is a formal arrangement filed by a licensed insolvency trustee (LIT) under the Bankruptcy and Insolvency Act (BIA). It is a viable alternative to bankruptcy if your debts do not exceed $250,000 (not including … Continue reading What is a Consumer Proposal?
What happens when you do a consumer proposal? How much can I save with a consumer proposal? What is the downside of a consumer proposal? What is consumer proposal process? Understanding the Consumer Proposals Consumer proposals are a valuable resource for individuals struggling with credit card debt. These services offer a way to save on credit … Continue reading Consumer Proposals: Everything You Need to Know
To put it simply – If you are facing an overwhelming amount of debt that you are unable to repay, filing a consumer proposal might be a good option for you to consider. You should, however, review all options available and compare the pros and the cons of each. It can be tricky to get … Continue reading Who Should File a Consumer Proposal?
Your Survival plan – When your payments exceed your income. Let’s not beat around the bush, these are scary and stressful times. Remaining physically healthy is the priority — and thankfully, most of us seem to be achieving that. However, very few of us can say our current or future financial situation is a healthy … Continue reading Break glass in case of emergency
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