Bankruptcy vs. Consumer Proposal – What’s The Difference? People often ask us the following questions. Is a Consumer Proposal just like filing for bankruptcy? Does it affect your credit in the same way a bankruptcy would? What is the difference between filing for bankruptcy or filing a Consumer Proposal? Today I would like to explain...Continue reading
Credit Counsellor and Bankruptcy Trustees – What do they do and how can they help with debt? If you are finding yourself struggling with your finances, chances are you have looked into what options are out there for you and who you can ask in regards to help with your debt. You may have come...Continue reading
The Top 10 Reasons Not To Go Bankrupt There are plenty of reasons not to go bankrupt but as a consumer quite often you are not advised of all of your options and not clearly informed of the implications of bankruptcy. Today I will outline the top 10 reasons to avoid filing for bankruptcy. Now...Continue reading
4 Reasons to Avoid Bankruptcy I am sure you have heard before that bankruptcy is a bad thing. But do you know why it should be avoided at all costs? Today we are going to take a look at 4 reasons why you should avoid bankruptcy if at all possible. 1. The emotional baggage and...Continue reading
Will My Consumer Proposal Prevent My Loved Ones From Coming to Canada? Anyone who is familiar with North York, Scarborough, and Markham won’t be surprised to learn that about 90% of my clients are not Canadian born, and English is not their first language. Cantonese, Tagalog, Farsi, Hindi, Urdu, Russian, Korean, Punjabi, and Arabic are...Continue reading
Why Durham Clients Choose 4 Pillars for Debt Re-structuring Services As anyone who has been through financially challenging times knows it can be a very emotional experience. Those emotions can range vastly for everyone including: sadness, frustration, embarrassment, anger, isolation, feelings of inadequacy and more. It is very difficult to face up to the challenge...Continue reading
Over the years of providing Burnaby debt relief services for my clients I have seen that many people don’t want to go bankrupt, they WANT to make good with their creditors, they want to at least make some kind of arrangement with their creditors and pay back a portion of what they owe. This is...Continue reading
As Canadians we live in one of the top 20 wealthiest countries of the world. So why is it that over 63,000 Canadians claimed bankruptcy in 2015? Let’s take a look at some of the possible reasons why so many people in Canada have to give up and claim bankruptcy. Spending more than you earn...Continue reading
I recently heard one particular Bankruptcy Trustee, now known as Licensed Insolvency Trustee(LIT), advertise free financial advice. What does that mean? Does it mean a free one hour consultation? Or could it be they will file a consumer proposal or a bankruptcy for you and you don’t pay them any fees? Whatever it means, nothing...Continue reading
So, you’ve got some debts, and your attempts to solve the problems on your own haven’t worked out. You’re either a renter, or the house you own doesn’t have enough equity in it to refinance and come up with enough money to pay the debt off. Any assets you could sell wouldn’t put much of...Continue reading
