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How Long Will My Bankruptcy Last in Ontario?

Posted on Jul 29, 2017 in Bankruptcy, Debt Counseling, Finances | 0 comments

In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, How long a Bankruptcy lasts. There tends to be some general misunderstanding about how long a bankruptcy lasts. People hear things about this 7 years business, not being able to obtain credit, and things like that. But, essentially a bankruptcy is a legal process, it has a beginning and it has an end. It begins when you file for bankruptcy. It ends when you...

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Is A Payday Loan A Good Idea?

Posted on Jun 26, 2017 in Consolidation Loans, Credit Rating, Debt Counseling, Financial Advice, Uncategorized | 0 comments

In this video, Richard Killen, a Scarborough-based Licensed Insolvency Trustee talks about whether a Payday loan is worth considering. I guess one can say that going into debt, any kind of debt, is hardly ever a good idea. Usually, the cost of the debt outweighs whatever benefits you may get from borrowing the money. However, sometimes debts make a good case for making some worthwhile. For instance, is a mortgage worthwhile? Because you borrow...

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Debt Counselors Toronto and Consumer Credit

Posted on Oct 21, 2016 in Debt, Debt Counseling | 0 comments

Many, many times in the years that I have been a Licensed Insolvency Trustee in Toronto I have met people who had very little understanding of how credit works, especially consumer credit. In fact, when I started my trustee business one of the first persons who came to work for me had almost zero knowledge of how credit worked. Having had years of experience in the consumer credit field, I found that interesting. But as I later discovered, this...

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A New Name – Licensed Insolvency Trustee

Posted on Feb 3, 2016 in Bankruptcy, Debt Counseling, Uncategorized | 0 comments

The bankruptcy and proposal business is going to have a new player – at least it will appear that way. Since 1920 Trustees have had the title “Trustee in Bankruptcy”. Effective April 1st, 2016, Trustees are going to have a new name. We will be called “Licensed Insolvency Trustees”. Actually this change has been coming for some time. Over the past 25 years the insolvency business has changed considerably. Trustees, who used to primarily...

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5 Signs That You Have Too Much Debt And Need Debt Help

Posted on Jun 6, 2015 in Budgeting, Debt, Debt Counseling, Financial Advice | 0 comments

There are lots of different tells that you have that let debt levels get out of control and you should consider getting some debt help. Basically, if you are even asking yourself if this is the case, there’s a good chance you are in trouble.   But see if any of these warning signs resonate with you. 1. You have no money in your savings account Having money in savings is about creating a nest egg for the future and putting aside funds for...

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10 Debt Danger Signals

Posted on Feb 24, 2015 in Budgeting, Credit, Debt, Debt Counseling, Finances, Financial Advice | 0 comments

After the expense of the holidays, many of us wonder how much debt is too much. Yes, Canadians are used to carrying record debt loads, but there comes a point where the burden may become too heavy.  Here are 10 danger signs that could reveal your spending is out of control: 1. You are making only minimal payments on your credit card balances as you head towards maxing them out. 2. Even so, you continue to use them for everyday purchases, such...

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