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How to Qualify for Installment Loans with Bad Credit in Canada

Qualifying for installment loans with bad credit in Canada can be very challenging, particularly after a bankruptcy or consumer proposal.  This is because your credit score plays a role in the rate you qualify for.  Financial lenders have to consider your relative risk as a borrower to pay back the large amount of money. With good credit, you could be offered a lower interest rate. If you have a bad credit history, you could still be eligible for financing, but it may come with a higher interest rate.

What is a credit score?

Your credit score represents your propensity for paying back what you borrow. Lenders use it to see how you’ve previously borrowed money and your reliability in paying it back to consider how suitable you are to receive financial credit. So it would be, when you take out a loan, every time you make an on-time scheduled payment, your credit score improves. In contrast, any time you miss a scheduled payment on the loan, your credit score worsens.

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What is considered “bad credit” in Canada?

Generally, credit scores above 700 are considered good. Most lenders will see you as a low-risk borrower, making you more likely to get approved for a loan with a lower interest rate. On the other hand, credit scores that fall below 560 are generally considered as “bad credit” in Canada which makes it harder to get approved for a loan and could result in having to pay a higher interest rate.

How a consumer proposal and bankruptcy affects your credit score

When a licensed insolvency trustee helps you file a consumer proposal or bankruptcy with your creditors, a note is placed on your credit report, and you’ll receive an R7 credit rating for consumer proposal or an R9 rating which means you have declared bankruptcy. To put that in context, R1 is the best credit rating possible,  an R7 status, the third lowest rating,  while R9 (bankruptcy ) is the worst score.

The good thing is that bad credit or an R7 or R9 credit rating doesn’t stay on your history permanently. In fact, it sits on your credit report for 3 to 6 years. There are steps you can take to rebuild your credit faster and show creditors you’re taking steps to responsibly repay your debts.

One of the benefits of Installment loans for bad credit is that they give you a chance to build a good credit score. It is one of the safest ways to rebuild your credit, providing you keep up with your repayments. When you pay off an installment loan on time, this contributes to your credit score, and a long track record of on-time payments will slowly build up a good credit rating. With regular on-time payments, your payment history will soon show that you can pay back borrowed money consistently over time. A better credit score will make it easier to apply for loans and credit cards in the future, and you’ll also be eligible for better rates.

Can I get a loan with bad credit or while in a consumer proposal?

Having a bad credit score isn’t the end of the world. In fact, bad credit is not uncommon in Canada. A recent StatCan study showed that over 17% of Canadians have a credit score below 560, which makes nearly 1 in 5 Canadians looking for bad credit loans at some point in their life.

While obtaining a loan can be extra challenging for those with poor credit or those in a consumer proposal, it’s not at all impossible.

The fact is there are going to be some lenders that won’t provide installment loans to those with poor credit, not to mention the increased risk associated with a consumer proposal. Frankly, you will have an easier time getting approval if you wait until your proposal is finished. However, you can still obtain a loan during your payment schedule. Approval will be much more difficult, but you will find many private lenders that specialize in providing loans to people with bad credit scores. Keep in mind, however, that they will typically charge a higher interest rate since you will be considered a higher risk borrower.

The key to get installment loans for bad credit in Canada is to be able to show that you will not have difficulties repaying the loan or risk defaulting.

Here’s what to expect when you apply for a bad credit loan during your consumer proposal:

  • Lenders will look closely at your credit history and finances to determine your creditworthiness.
  • You’ll need to provide proof of steady employment and income.
  • Expect lenders to contact your consumer proposal administrator or Insolvency Trustee to discuss your financial situation and your commitment to your proposal terms.
  • You can expect your trustee to provide guidance and advice on loan terms and interest rates and also recommendations on lenders to make sure you’re taking on a loan that you can afford.
  • You will need to prove to your Licensed Insolvency Trustee and lender that you will be able to manage making both consumer proposal payments and potential loan payments.

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What are my options for getting a loan with bad credit or while in a consumer proposal?

Bad credit loans are basically designed to help Individuals with limited borrowing options to access funding when other options aren’t available. However, some products can be costly and predatory. If you’re facing a financial emergency or unexpected expense, there are some types of installment loans for bad credit in Canada that may be low-risk alternatives.

Secured loans

Secured installment loans require you to provide a personal asset as collateral, such as a car or house, to protect the lender in case you default on payments. Because there is security for repayment of the loan, lenders are generally more willing to approve borrowers with bad credit and offer low-interest rates.

Unsecured installment loans for bad credit

Unsecured loans do not require the borrower to put up any collateral. A major disadvantage is that they may have higher interest rates and stricter approval requirements, especially for applicants with bad credit.

Guarantor loans

Guarantor loans require a cosigner with good credit who will be responsible for paying back the entire loan if the borrower can’t. This can make it easier to get approved for a loan if you have bad credit, but make sure you can keep up with the payments to avoid any risk to your guarantor who will be responsible for the loan if you default.

Installment loans for bad credit offer flexibility, you can choose the loan amount, repayment period, and payment frequency that work best for you. With predictable payments, you’ll know exactly how much you’ll need to pay each month, making it easier to budget and manage your finances.

It’s also best to keep in mind that you may be more likely to be approved for a secured loan than an unsecured one when getting a loan with bad credit.

Find installment loans for bad credit in Canada with our insolvency trustees

When you apply for installment loans for bad credit in Canada, it’s crucial to prepare thoroughly before submitting your loan application. It may be difficult to obtain loan approval, but it is possible if you can prove your creditworthiness.

Do a lot of research prior to applying to compare lenders and explore your options to find alternative, private, or bad credit lending sources that are legitimate lenders. Watch out for predatory lenders that charge unreasonably high-interest rates than is legally permitted in your province. Be careful of fake lending sources that may steal your financial information.

A licensed insolvency trustee can review your situation and speak to you about solutions that may be much less expensive and work closely with you to make sure you’re getting the right loan for your financial situation.

Do Not Cash IN RRSP’s To Pay Taxes Owed In Ontario

Hi it’s Richard Killen it’s tax time again and some of us when we file taxes are going to owe money. And some of us who owe that money have RRSP’s.

I want to suggest to all of you if you’re in that position where you have RRSP’s and you owe money on your taxes this year, don’t cash them in until you’ve talked with us. There are options that would allow you to keep your RRSP’s and still get your taxes taken care of.

I invite you to give us a call.

Do You Owe Taxes Based ON CERB Benefits?

Hi I’m Richard Killen, you may be like a lot of people who received CERB benefits last year.

You were surprised to find out how much income tax you owe this year on all those benefits.

I’m trying to tell people for quite a while now, that shouldn’t be a real problem for you.

Give us a call at Richard Killen and Associates and we’ll discuss all the options that you can use to resolve that problem.

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File Your Return by April 30, Even If You Cannot Afford To Pay Taxes Owed

Hi I’m Richard Killen, if you’re like me you’re pretty fed up talking about covid and lockdowns so, I thought we’d talk about tax returns.

April 30th if you’re weren’t a self-employed person in 2020, is your deadline for filing your taxes. If you were self-employed you got till June 15th but the important thing I want to get

across is to get your return filed by the deadline. There are penalties for not doing so.

You can avoid all that just by getting it filed even if you can’t pay it, get it filed.

 

Facebook Live Webinar: “Getting debt help: Where to go when you face financial difficulties”

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CAIRP is hosting a Facebook webinar on Wednesday on how to get help with your debt. You may find this interesting. If you find yourself in debt, watch the webinar, then give us a call. We would welcome helping you to overcome any debt issues you may have.

After watching, Please join us and help spread the word about CAIRP’s free Facebook Live panel discussion being held on November 25th, as part of the FCAC’s Financial Literacy Month.

This webinar is a great opportunity to help educate the public on what Licensed Insolvency Trustees do and how we can help them to better manage their debts. Our speakers will be sharing their views from an industry perspective. We would like to thank those of you who have already shared this event within your network. If haven’t had a chance to do so, we encourage you to:

  • Invite your clients and people in your personal and professional networks who you think would benefit from attending the webinar
  • Like and share our promotional posts on CAIRP’s FacebookTwitterand LinkedIn pages
  • Put us in touch with your marketing/social media teams to further promote this webinar

Webinar details:

Topic: Getting debt help: Where to go when you face financial difficulties

Date and Time: Wednesday, November 25, 2020 from 2 – 3 pm ET

Speakers:

  • Nathan Sugeng, MBA, CIRP, LIT, Managing Partner, Fontaine & Associates, Ontario
  • Bridget van Wyk, CPA, CA, CIRP, LIT, Regional Practice Leader, A. Farber & Partners Ltd., British Columbia
  • Andre Bolduc, CPA, CA, CIRP, LIT, Senior Vice President, BDO Canada LLP, Ontario
  • Tania Daher, CIRP, LIT, Licensed Insolvency Trustee, Ginsberg Gingras, Quebec

Venue: Facebook page of Canadian Association of Insolvency & Restructuring Professionals

How to view the webinar?

To view the live webinar on CAIRP’s Facebook page, please follow these steps:

  1. Log into your personal Facebook account
  2. Visit CAIRP’s Facebook page
  3. Click the ‘Like‘ button
  4. Tune into the live webinar on the page on Nov 25 from 2 – 3 pm ET

To add the webinar to your calendar, please click here.

This webinar will also be recorded and made available on the CAIRP website. If you have any questions about the webinar or how to view it, please contact jovita.dsa@cairp.ca.

We look forward to seeing you there!

Ambitious Adulting: How to Reach Financial Security in Your 20s

Ambitious Adulting with Liz Enriquez: Managing Your Finances and Elevating Your Life

This video episode talks about how you can manage your finances, make worthwhile investments and reach financial security in your 20s.

Intro:

Welcome to The Glass Is Half Full Talk Show. Let’s face it, life can be tough in many ways. Here on The Glass Is Half Full we focus on how life is tough financially. Dealing with these financial realities can be a challenge. Essentially, we have to find ways to do more with less, less money that is. The show is focused on helping you discover ways to achieve that goal, even if you don’t have a lot of money to work with. We’ll be meeting people from many different walks of life. They’ll share their stories and expertise, looking to do more with less and maintain a positive attitude while you’re doing it. Welcome to The Glass Is Half Full. Now let’s join Sean and his guest in the studio.

 

Sean Hi everybody, Sean Killen here from The Glass Is Half Full channel, we’re here with Liz Enriquez, who has a fantastic story I was reading about, and thought nothing better than to get her on and let her fill in the blanks for us and help us understand how to be as successful as she has been able to become. Hi Liz, how you doing?
Liz I’m well, thank you Sean for having me.
Sean Of course, thank you for coming. So, I’m not even too sure where to start, I mean, there are so many different aspects to your story that are interesting, I’m sure of interest to everybody. Do you want to tell me where you’d like to start telling us about your story?
Liz I guess we can start from the beginning.
Sean Well, way back when you were five.
Liz Yeah, way back to then. I think it’s really important when we talk about finances to kind of understand where people are coming from. Their money blueprints and kind of what happened in their childhood or growing up to frame them and shape them into the adult that they are. And so many people like to spend the way they do and save the way they do based on kind of what they saw their parents doing. I think that’s, that was like a really important realization for me because I watched my parents, you know, we moved from Mexico and I watched them like work really hard to stretch a dollar. And I saw how hard it took, like how much work it took to make money so that drive is really what is instilled in me and I really give a lot of credit to my parents for showing us a really strong work ethic. That’s a little bit of how it all began. I started two businesses. I quit my full-time job, and I’ve been really hustling for a long time. But it really started because I watched my parents hustle.
Sean So was there any just, as a point of curiosity, was there any particular thing when you were so young? Most kids don’t even start conceiving of the idea of money until they’re much older, I would expect. Is there any particular kind of kick-started your drive other than the general?
Liz Definitely moving from Mexico. I think one of the earliest memories is going into like a thrift store and having to buy all of our clothes from scratch because, you know, we came from Mexico. We didn’t have winter clothes. We didn’t really have anything to keep us warm and never been to a thrift store before. So that was kind of an interesting experience for me. I was still really young, but I just remember all these things like seeping into my mind and into my memory when I think back I’m like, oh, I definitely remember going to the thrift store and yeah, and then also being in school and then having definitely not the latest brands in the latest fashions. Everyone else had way warmer clothes, way cooler looking things. And I felt yeah, just kind of comparing myself to everybody else was really impactful. And I definitely didn’t feel like I belonged, I felt really behind everybody else. So all of those feelings help me, you know, kick start all the stuff that I wanted to do because I didn’t want to feel like that.
Sean Your parents brought you into the equation as far as that we only have a certain amount of money here, so we want to stretch it, you know, getting you on board with how to help with that, or you just picked that up on your own?
Liz Well, they pretty much said no to everything. Anything I wanted to do. Yeah, so there was no choice, really. You know, I also remember, like, not really going on field trips when everybody else got to go on field trips because we didn’t really have money to pay for the extra $20 ticket or all that stuff, so I’d have to skip out on those. So all that was really important for me, that, you know, to shape the way I am now.
Sean Right. Got to find motivation where you can, right?
Liz Yeah, and I never blamed my parents. Like I always knew that they worked really hard, so I didn’t really, like, obviously, I felt a little bit out of place and resentful that everybody else got to do things. But I always knew that my parents were working hard, so I just thought, OK, this is temporary,
Sean Right? But also may have opened your mind up to the responsibility side, right?
Liz Yeah, I mean, it definitely put a spark in me that said okay, if I want something, I have to go work for it because I can’t really ask my parents for money. So I started working when I was, like, 11, I got my newspaper route, and you don’t make a lot of money delivering the newspaper, but
Sean I did that myself. I do know what you mean, absolutely.
Liz Yeah, you know, you’re not really making money, but, you know, just starting that getting into those habits and seeing a little bit of pocket change come my way. I was like, Okay, this is what I have to do. And this is one of the steps that is going to help me make money. And then from there, I just kept building up and building up,
Sean Right? All right, and so then what happened next?
Liz Well, really, I wanted to get out of the house because even though I have a great relationship with my parents, you know, I was 18, they were super, super strict. They wouldn’t give me any money and I thought I just need to get out of here, so of course, I couldn’t. I couldn’t afford to move because I was still, like 17 or 18. This is really when I started having anxiety attacks because I didn’t know how I was going to afford my life. I wanted to go to university. I wanted to move out. I wanted to live on my own. And I looked at how much everything costs. And I was so overwhelmed with the tuition costs alone. I think I had $500 to my name and tuition was, like $6,000 plus rent plus food. I was looking at, like $8,000 that I needed. And I could not conceptualize how I can go from $500 that I had to get $8,000 that I needed. Like that is a huge gap that I did not understand how I could even close that gap. So those thoughts were super overwhelming. So after, you know, some anxiety attacks, after kind of working through what was really going on, I made my first budget and made my first plan. I thought, OK, I obviously need to get a higher paying job because I was just babysitting, so I was not making enough money to do anything. And I thought, OK, what job was going to pay me this kind of money to help me go to school? Then I started realizing that there were scholarships and bursaries, so I thought, maybe this is the direction that I should focus my energy on because I had good grades. I was an active volunteer, so I thought, OK, let me just focus on this. So I started applying. I actually dropped my math class in grade 12. Yeah, I just was like this is too hard. And I dropped it. And I used that period for full-time scholarship hunting. So instead of you know, most people would drop a class and then go home and I don’t know, do what?
Sean Go to the mall.
Liz Yeah, go to the mall. I dropped that class, went straight to the guidance counselor’s office and treated that as a class and then wrote essays, submitted applications and by the end of the semester, I had my first year covered of University and then the next half of second-year covered. So you know all of that I thought, Okay, that really taught me to look at creative solutions instead of just getting defeated because I had to figure out how I was going to find this money quickly. I had to really look at creative solutions and then dedicate a lot of time. Nobody just handed me these scholarships because my grades were good, but definitely not, you know, amazing that I was just handed these scholarships like they were high, low eighties, mid-eighties. Just like good enough.
Sean Well, hard for anybody, hard to conceive of anybody not being able to look at you and say there is definitely a fire in you, as far as motivation.
Liz I mean, that’s the thing. A lot of these scholarships weren’t even based on marks. They were based on how much you wanted to go to school and you’d have to write essays and applications. I had to get letters of reference like it was a full package of like, and I’m like I want to go to university and I can’t afford it. So that’s what a lot of the scholarships look for, and if you’re willing to put the time in, then your chances are higher of getting that scholarship.
Sean Right, but it also taught you the absolute benefit of always looking outside the box, to make sure that you learn all these things that are out there in the world that aren’t necessarily mainstream for lack of a better expression.
Liz Absolutely. Because if I had been working full time, I still wouldn’t have been able to get that amount of money. So it was kind of this, like, a backdoor entrance that helped me accelerate that, and because of that, because I was able to pay for school with mostly scholarships that helped me accelerate my wealth. And so when I graduated university, I graduated debt-free when at the beginning of university I didn’t even have tuition funds. So in four years, well, it actually took me five years to finish my degree because I was working full time. But I paid off school. And then two years after that, I bought my first house. So it all just kind of piles up. But it’s been a decade in the work, and it all started because I felt super trapped and I didn’t want to feel like that.
Sean The value of hard work, right? So what was your degree in?
Liz Well, I actually graduated with a geography degree, which it’s kind of, that’s a whole other story, too, because I applied for school for English and linguistics, and then I just switched a bunch of times, I did not have a clear direction. For people, especially young people who are super stressed about their life and their money, I’m like, you know what, who knows what’s going to happen? Just try to enjoy the rides. Because looking at my history, especially my education, like I moved to the West Coast, I took four months off to travel, I was kind of all over the place. Then I graduated with a Geography degree and now I have a marketing business and then do financial coaching, so I can kind of go on a lot of different tangents and it’ll be okay.
Sean Well, definitely the story of life, you have to kind of go with the flow too, right?
Liz Yeah
Sean But that gives a good understanding as to why you traveled to so many countries because of your interest in geography, right?
Liz Yes. And I took a bunch of time off to travel. I’ve been to over 20 countries, and I actually also used my degree as an excuse to go travel. So I found a poster at the university saying apply for this experiential education grant and you can use it for traveling. And that’s what I did. I wrote an essay. Again it took a lot of the skills from when I was applying for scholarships. I chose to apply for this grant and because I had a geography degree, it was really, really easy to say I need to go on this trip because I am studying tectonic plates or I’m studying geothermal energy in Iceland and I would just write crap. And so I had a few of my trips paid for using grants. And then I used those experiences for some of my classes so that I was able to get credit, so I really just was always looking for different ways of getting what I wanted.
Sean Right. Well, put. But yeah, that you even got to do all this traveling without necessarily or using all that knowledge you’ve learned about the grants and wish and everything else to be able to further your passion for travel, learning about other countries first hand.
Liz Yeah, I also traveled on a budget. As a university student, it’s pretty normal to stay at hostels, it’s pretty normal to backpack. So if people really want to travel, sometimes you have to make a little bit of compromises. What kind of travel you’re going to do, because if you go to an all-inclusive
Sean Get together with other people,
Liz Sometimes I would meet up with people, but I just kept my expenses really, really low when I traveled.
Sean Okay. And then what? What happened next?
Liz I mean, I still travel every now and then, but most of my traveling happened in university. I guess after university, I bought my house a few years after I graduated in 2014 and then bought my first place in 2016. And that went really well. And three years later, so in 2019, I bought my first duplex. So I’m still trying to figure out if real estate is going to be the majority of my portfolio or if I should, you know, focus a little bit more on the stock market, which is actually where I’m more comfortable because I started in, say when I was 18. So I’m in this little transition period right now what my portfolio is going to look like.
Sean Well, the first portfolios are more valuable than anything.
Liz Right, especially now with what’s happening in the stock market. I’m definitely feeling it, but having so much of my money tied up in real estate, I don’t think I’m feeling it as much as other people right now.
Sean They say real estate is the second best to gold only, right? That gold sets the standard and real estate follows the standard, and everything else trails along behind somewhere, right?
Liz Yeah. So I guess you just gotta wait and see what happens.
Sean Right. So what do you think is next for you? Where you found your thing and this is the focus that you can see yourself sticking to for some time where you have new ambition in your heart?
Liz Well, I always have a lot of ambitions. My website is called Ambitious Adulting, because I started documenting how I’m paying for things, how I can travel, how I can buy property, really sharing the ins and outs of all of that, how I started investing. So I’m always, my mind is always racing with ideas. Right now I’m focusing on maybe getting a third property. I want to ride it out for a year, being a landlord of a duplex and see and understand tenant dynamics before I jump into the next property.
Sean So what’s going on with your website with your business there?
Liz Yeah, so Ambitious Adulting, I work with mostly Canadian millennials, and right now the focus is on helping them learn how to invest. So most of the millennials that I work with are actually pretty good with their money. Surprisingly and maybe not surprisingly because so much of the news says that millennials are, you know, not doing well. We’re all living in our basement or our parent’s basements while wasting money on avocado toast. But the reality is there are actually a lot of people out there who were doing quite well, but they don’t know what to do with their savings. They just save and save and save and then don’t know what to do. So there’s a gap because financial literacy and financial education wasn’t available when we were in school, so a lot of people don’t know the basics of investing. So that’s what I spend a lot of time just letting the people know the different kinds of investments that they can have, the basics of how the stock market works. So, yeah, I have a mentorship program and a boot camp that people join to learn.
Sean Tell me about the boot camp. I want to hear about this.
Liz Yes, so I have this investing boot camp and it’s definitely not like the physical boot camp, it’s two weeks of constant communication with everyone who signs up. They got newsletters, we do live videos, we have discussions, and it’s really just to help people get more comfortable with the idea of investing. In the end, they either find a financial professional because now they know how to look for them and what credentials to look for and how the industry works or they take the [] adviser path and kind of do a semi-passive approach. Or they start doing their own direct investments based on the basic foundation work that they learned with me. So it’s really this kind of that stepping stone to help them understand how to invest and where to go.
Sean Right. What about the creative end of it? Do you find it hard to teach them how to kind of pick up the ball and run with it themselves, or they’re all just kind of looking for you to tell them how to do it?
Liz Yeah, a lot of them just want the answers for everything that I do. They’re like, Well, just tell me how to do it and I’m like, Well, that’s not really how it works. And my whole mission is to empower people to figure it out on their own and to kind of know where to look. So I’m not saying do your own investments, but I’m asking them if you don’t want to do your own investments, this is how you find a certified financial professional who has fiduciary duties and who can look out for your best interest. These are the kind of questions that you should ask a financial professional if you’re meeting with them. So, it’s a little bit of hand-holding, but I don’t mind.
Sean Yeah, well, that is what your advertising that you’re going to do a little bit of, right?
Liz Yeah. Yeah. I don’t feel like I’m that friend that is good with their money, and then people come and ask me for advice. That’s exactly what I do but to a large audience.
Sean I can see that being one of the burdens you’ll bear for some time. But
Liz Yeah, the biggest people were already, I was always that person to my friends, and people were already asking me all those questions, so I don’t mind extending that to the public.
Sean Right. And what’s the website that they can look this up on and learn more?
Liz Yeah. It’s www.ambitiousadulting.com.
Sean Okay, I’m sure we can probably, you know, put that in down here somewhere.
Liz Yeah. And they can also find me on Instagram at ambitiousadulting as well.
Sean Got to commend you for all the budgeting and everything. These are things that were perpetually trying to teach people about in our business. So many people in the bankruptcy industry, they have trouble because they lost touch with the organization of things. Where overwhelming comes into play very often, right? But too many too often into too many situations it comes down to the fact that they are more turned away from it than really I didn’t know how to do it.
Liz Absolutely. Budgeting is so important. I feel like my life, my financial picture changed when I started a budget because I had so much more clarity. And instead of feeling overwhelmed, which is exactly how I felt, I just had a little bit more of a direction. So a budget is totally the first step for anybody.
Sean Thank you very much for coming on the show and for sharing your story. All the success in the world to you and keep going. Good luck on your next property as well. Thanks for coming on the show.
Liz Thanks for having me.

CAIRP Press Release

Fewer Canadians seeking debt relief during COVID crisis, those struggling urged to seek help from licensed professionals.

According to a press release by the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) they suggest that many people who should be seeking the services of a Licensed Insolvency Trustee are not. It seems that between government relief programs and creditors offering payment deferrals many do not feel the urgency to deal with their debt problems. Read the release below.

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TORONTO – May 11, 2020
– After consistently climbing higher over the last year, the number of Canadians who filed for insolvency in the first quarter of 2020 was down 5.5 per cent compared to the previous quarter, according to the latest official figures released today. In March alone consumer insolvencies decreased by 8.5 per cent compared to the same time last year.

The decline is largely the result of increased payment flexibility among creditors, landlords and administrators coupled with temporary income supports provided by the government. While these measures have allowed many to make ends meet, bankruptcy professionals agree that consumer insolvencies will spike in the wake of the coronavirus pandemic.

“For those who were already overstretched with more debt than they could reasonably afford, the government relief and short-term payment reprieve have allowed many to stay afloat. But their underlying debt is a gaping hole in the lifeboat,” says Mark Rosen, Chair of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). “The pandemic will magnify the debt problems Canadians were already facing and insolvency will be the way out for many.”

Prior to the widespread income shock and economic uncertainty brought on by COVID, consumer insolvencies were already on the rise in Canada. In spite of the dip in the first quarter, the total number of insolvencies for the 12-month period ending March 31 increased by 8.4 per cent compared to the same period last year.

With no clear end to the pandemic in sight, Rosen says that severely indebted Canadians should seek professional advice now from Licensed Insolvency Trustees before they find themselves even more in over their heads.

Licensed Insolvency Trustees are federally regulated debt professionals who can offer guidance regarding all of the debt-relief options available to Canadians. With solid accounting expertise and extensive knowledge of governing legislation, they are empowered to provide protection from creditors and can discharge people from debt. They take a customized approach to determine which restructuring option is most suitable based on individual circumstances.

If it is determined that bankruptcy or proposal is the best course of action, the dual role of the Licensed Insolvency Trustee is to ensure that the debtors’ rights are not abused while protecting the rights of creditors.

“For individuals and families in financial distress, the insolvency process is really about moving forward after hardship to focus on a brighter future. For creditors, the process formalizes negotiations and cushions losses,” says André Bolduc, executive board member of (CAIRP) and Licensed Insolvency Trustee.

He points out that as soon as an individual files for insolvency, they are protected from creditors, which can also include protection from collection agency calls and wage garnishment.

“It’s so easy to become paralyzed with fear or shame and let the bills pile up even more but that is the absolute worst thing you can do right now. You do not need to tough out this crisis on your own. Help is available,” adds Bolduc.

In an effort to maintain social distancing measures while continuing to support those in need of financial assistance, many Licensed Insolvency Trustees across the country are providing free contactless consultations virtually or by phone.

You may read the press release here.

If you are in debt, we are here to help you with a debt solution whether it be a consumer proposal or a bankruptcy. Talk to us. We offer a free consultation by phone or by video chat. Call us at 1-888-545-5365

Raising Your Vibrational Frequencies and Changing Your Life with Dawn James

This video episode talks about how you can raise your vibrational frequencies and change your life.

How to Raise the Vibrational Frequencies Within You, Around You, and Between You and Others

Here is the transcript of the video:

Intro:

Welcome to The Glass Is Half Full Talk Show. Let’s face it, life can be tough in many ways. Here on The Glass Is Half Full, we focus on how life is tough financially. Dealing with these financial realities can be a challenge. Essentially, we have to find ways to do more with less, less money, that is. The show is focused on helping you discover ways to achieve that goal, even if you don’t have a lot of money to work with. We’ll be meeting people from many different walks of life. They’ll share their stories and expertise, looking to do more with less and maintain a positive attitude while you’re doing it. Welcome to The Glass Is Half Full. Now let’s join Richard and his guest in the studio.

Richard Hi, I’m Richard Killen, welcome to The Glass Is Half Full. A program that tries to get you a better bang for your buck, sort of. Even if your bucks aren’t all that plentiful. We, today we’re going to talk about how to raise, I’m going to read this now so I don’t get it wrong, how to raise the vibrational frequencies within you, around you and between you and others. To explain why this is important we have as our guest, Dawn James. Hello Dawn, welcome to our show.
Dawn Hi, a pleasure to be here, Richard.
Richard Dawn is going to, I’m going to read this to so I get this right. Dawn is the best selling author of three books which have been translated into French, Spanish and Hindi. She’s a mentor, a music performer, and a transformational leader. She provides people with the tools and inspiration to shift the reality of their inner and outer wealth. Did I get that right?
Dawn You did.
Richard So Dawn, before we get into the vibrational frequencies, which I know you’re here to explain to us, I’d like to find out how you learned about all this? I say this. I understand that in 2003 you had a near-death experience, which seemed to be the catalyst that brought all the rest of it about. Tell the audience what happened.
Dawn Absolutely. So, Richard, you know, I had a very traditional life. I grew up in Toronto, actually, and went to school, got married, got into my career, and I kind of fast track. My whole life was a fast track. So I kind of climbed the ladder quickly in the corporate world. And, before you knew it, in my thirties, I was already a general manager of a corporation. So a lot of stress, a lot of responsibility. And a young family. I had three young kids, my husband and I. Many times we do what we’re good at, it doesn’t mean we’re doing what we are here to do. And so, at some point in my career, there was a separation between doing what I’m good at and this feeling I was missing something. As we approached the spring of 2003, I actually lost my appetite. That was the first sign I was not doing what I was supposed to do. And for a three month period, I basically did not eat, did not want food. I was not even hungry, I really lost my appetite. And towards the end of that 90 day period, I actually stopped speaking. And to help people understand my mindset, I knew I wasn’t doing the right thing, but I didn’t know what the right thing was. But I started to withdraw from everything and on that last day that I wasn’t talking, I just felt I listened to my last heartbeat. Everything just stopped. My body shut down and everything stopped. So for me, that was my first realization that there’s more to us in this physical show. And I had what most people would describe as a spiritual awakening experience, i.e. the physical self ceased to exist, and I experienced what it was to be non-physical, i.e. spiritual. That is a profound, unbelievable experience. There was no physical. Yes, whatever that the soul is, the spirit is. And at that moment I realized that there was something much bigger I had to do than my corporate day job. Two days after that experience, I quit my corporate day job, and I know we’re here to know about money and management, but yes, without a plan, I said goodbye. Click. No plan. So, yeah, I went from six digits to zero in 72 hours, but…
Richard I’ve met people that happened too, but not quite the same way you described.
Dawn It was very quick. I tend to move quickly, but the spirit moved even quicker than I used to move. And within two days, I made some major changes in my life within two days. I think sometimes when we’re not on the right path, we start getting signals. And for me, my body shut down and my appetite disappeared. I stopped speaking, and after that experience, it seems like I stopped the 40 years of being in here. I started to live in here. That was the second most profound thing that happened. This woke up. And when I refer to my heart space, I’m talking about why am I here? How do I find joy in my life? I never had joy until I woke up and I began looking for ways to enjoy life, not get the job, to get to this, to get to that we were sort of caught up in this paradigm dream of making money to have more stuff. And my spiritual wakening taught me. It’s not about the stuff we acquire. It’s about the quality of the experiences that we have while we’re here. So that was a whole different shift going on.
Richard Is it in tune with something like…
Dawn Totally.
Richard Like is far more rewarding to give than to receive?
Dawn That’s part of it. And the other part of that message is, what do you have to share with the world? What did I already have? And so I had to look at what I came here with, and how I was going to use it, as opposed to go get the degree, go get the job, go get that this, go get that and keep collecting. So my whole perspective of being here shifted in two days. So that was a short answer.
Richard That was a long one.
Dawn I know.
Richard So Dawn, what is vibrational frequencies?
Dawn So the scientific definition, and then I’m going to give you what I call my spiritual definition because there’s really, there are two messages I share in my first book. Vibrational Frequency is a measurement of how energy moves. So bio-electricity is something that we have. All living things have it. It’s electrical energy that runs through everything, ourselves, our muscles. The measurement of how that energy flows, it’s measured in something called vibrational frequency. So, for example, if I was to look at a, I’m not picking on fast food, but if you look at a hamburger, it’s pretty dead. There’s nothing living in there, right? The lettuce still isn’t in the ground, the tomatoes, not on the vine. You’re looking at this thing with no life. So this vibrational frequency is zero. If I go to a tree that has an apple, there is life, life force energy moving through that tree still connected to the apple. There is a measurement of frequency in living things. So, Bruce Tanio in the 1980s created a device that measures vibrational frequency. So we know the vibrational frequency of our heart, our spleen, our liver. We know the vibrational frequency of the brain when we’re actually awake versus when we’re asleep. All of these things now we can measure. So the flow of energy, that measurement is a vibrational frequency. On a spiritual definition or metaphysical definition, everything in your body, our bodies, are designed to flow. Everything must be flowing. If it’s not flowing, we’re going to get sick. So on a metaphysical level, how do we keep the energy flowing at an optimal rate? Not just, you know, your lungs, the lymphatic, the blood, the oxygen, but even on a conscious level, how do I stay in the flow of life? Because the moment we become stagnant or we become very stressed, and I know we talk about financial stress, but there are all sorts of stress in the world. The moment we become stressed, we actually stop the flow of energy. We get tense and so flow, having flow, is a good thing when we’re stagnant or we’re stressed, we restrict energy, which means we are attracting disease into the body. And there is a bit of a parallel, even with money.
Richard It’s a subject I know something about.
Dawn I know. Yeah.
Richard Or the absence of.
Dawn Exactly. While the absence of money causes stress, right? So what happens when we spend more than we receive?
Richard Not necessarily.
Dawn Really?
Richard Really. The absence of money causes stress only when you need the money to do something. If you don’t need money to do anything, not having it doesn’t matter.
Dawn That’s true. That’s true, which would be…
Richard One must take a little more philosophical approach to all these things. However, I’m actually digressing here.
Dawn That’s okay.
Richard Go ahead.
Dawn Yeah. So no, when we’re in the flow of life, things we’re able to manage ourselves with ease. There’s a wonderful, wonderful native scene that when we live in the giving and the receiving of life i.e. when we live in balance, stress cannot exist.
Richard Very yogaish.
Dawn Very yogaish, yes. But think about it, when we give and receive, we’re not out of balance. If I spend more money than I’m earning, I’m out of balance.
Richard Not if MasterCard lets you. I don’t want to pick on MasterCard.
Dawn I hear you. I hear you. Scratch that.
Richard We might leave it in. But given all of this, how do people make note, how do people grasp this?
Dawn Sure. So the concept, I would say is, and you know the reason why I found the courage after seven years of living this….
Richard Yes, we don’t want everybody to go through everything you went through.
Dawn No, by all means. I lived through this for seven years, and then I found the courage to start writing because I wasn’t a writer by profession. I had a very different life before 2003. My second life started 2003 and for me, I had to live it. So I’ll give you a few examples. Living a high vibration life means that I begin to pay attention to things that are positive and negative. How will it impact my life? I start to make choices based on whether this is going to be rewarding or detrimental. You start to consciously make a choice. Don’t just live as if there is no consequence. So you start to weigh things differently. And then for me, if my goal is to stay in the flow, to not have that tension, that stress and do not create drama in your life, I’m going to make very different decisions. One of the things that a lot of people relate to in my first book is the vibration of food and recognizing things that are, have frequency life and things that are dead. And paying attention to what you’re putting in your body because a lot of East Indian in Eastern philosophies say you are what you eat. So if you eat food that is dead, you’re eating death. If you look for things that are lively and alive and nutritious, then you’re putting life into your body. So that’s one way to start looking at vibration. Am I bringing things into my home that’s beneficial for me? Am I interacting with people that are positive and supportive? Am I doing things that are not going to put me in harm? So you start paying attention to your choices. That’s how you get into a high vibration life. So that’s what I’ve been teaching for almost 18 years. How to stay in that flow.
Richard It’s interesting, it’s true, among other things. Yeah, when something is true, it tends to have an interest of its own. But as an Insolvency Trustee, I run into people, not just a few, many people, who by their own admission, have developed very questionable bad habits, you might say, in the use of their credit cards, credit cards being the most…
Dawn Accessible?
Richard Everybody’s got them, let’s put it that way. So they basically get into trouble through the mismanagement of, and this is essentially something that people tend to do without a great deal of conscious thought. So I understand that you’ve already approached this problem. You have your own views on it, call it Shopping On Autopilot.
Dawn Shopping On Autopilot, yes.
Richard That’s got a nice 21st century ring to it. So, want to explain it?
Dawn Yeah, this topic is near and dear to me because, you know, to me, it’s the difference between living consciously and sleepwalking through life, literally sleepwalking. One of the things that I observe and I think a lot of viewers can relate, many times you go into the grocery store and I see this all the time, people have the shopping cart, they go down the same aisles and they pick up the same brands and they put the same brands in the buggy and they head to the cash and they don’t even look for anything new, there not checking anything new. They’re not curious. They’re not inquisitive.
Richard That’s not me by the way.
Dawn That’s not you. Okay, so you’re probably 2-1/2 hours there.
Richard My wife is always saying, come on, let’s go.
Dawn So this is what I refer to as Shopping On Autopilot, and I’m even going to say, living on autopilot, We do the things that we do because we’re used to the things that were used to do, and we don’t really deviate much, and it’s kind of like living passively. That’s the right word to say, automatically. However…
Richard It goes to being comfortable. If things are reasonably good for you. Why think about it?
Dawn Right. But if you don’t question what you’re putting in the shopping cart, like, you know, do we even look at the labels? I don’t know. Some people do. Some people don’t.
Richard Some of us have high blood pressure too.
Dawn Exactly. And so what, the phrase that I coined is, Shopping On Autopilot because we are living as if we don’t have a choice. And one of the things I learned when I died and came back, is you always have a choice. So how about we start making better choices? A quick example would be, you know we can buy processed food or we can buy fresh food. We can shop at a farmer’s market. Each one of those decisions, you are going to have a higher, lower vibrational frequency going into your body. So if we’re not aware of that, we’re going to be not healthy. But when I look at the whole premise behind it, if you truly believe you will not be happy until you’re driving that car, or you’re not going to get the guy until you wear that perfume. If you truly start believing that, then yes, you’re going to go out and buy this and buy that and buy this. So how do we reverse that? So some of those bad habits you talked about with the credit cards is, there’s a belief that we need something. Some of those beliefs are based on what we’ve been fed through the media. And that’s where I say, How do you break that chain? I mean, you’ve trained you help people break that in different ways.
Richard Yeah, but I’m one of the few people in my business who goes back far enough to actually know an era that didn’t have this overly weighted advertising, driven society. When I, I’ll tell you my story a little later.
Dawn Yeah, I’d love to hear that.
Richard When I started working, long before you were born, the business I got into was the consumer loan business. And the idea was at the time that we were the only place you could go to borrow $500. It’s called a finance company. Household finance and…
Dawn HFC. Yes. Yes, I remember those.
Richard Anyway, it was very, very effective. People would phone up and they’d say I need $500 or $1,000 for this or that. They would come in and get a loan. They would sign a contract and come in and get a loan. But in the process of doing that, what they had to do is they knew they were going to have to show up and convince me to approve the loan. So they had to sell it, sell the idea that I should lend them the money. Before they could do that, they had to sell it to themself. They have to justify it in their own mind, so they could prove it to me. I wasn’t onerous. In fact, I was willing. I was there to do that. I wasn’t going to say no. I was going to kind of default to yes, unless otherwise right. But then along came credit cards. And credit cards totally removed that little process where they had to justify to themself.
Dawn I see.
Richard From that moment on, you have today’s world. Exacerbated now by online lenders.
Dawn It’s totally changed. I didn’t realize that there was a precursor to that because it’s unfortunate.
Richard It’s in my book.
Dawn Okay, great. Because I need a copy.
Richard I will give you one.
Dawn Thank you. I’m a readaholic. That’s amazing.
Richard But if there’s one major thought or message you would give somebody from your visit today, what would it be?
Dawn If I had to give one message, I would say, in order to change our behaviors, we have to start looking at what we truly value in life and what we truly believe about ourselves. I’m a firm believer that if you begin to change your inner dialogue and recognize you are rich, you have what you need. You came here fully loaded. If you start to believe that you’re not incomplete, you’re going to have less attraction to shop till you drop. That is going to not be important to you because I went through it. And so when you start owning your own value, your own worth you start feeling good about what you already have. All this stuff becomes less important to you. So my message which is the first sentence I heard when I opened my eyes and I came back to life, was all you need is within you. All you truly need is within you. Let’s start owning that message, looking at what we already have so that we’re not so attached to external stuff. That, guess what? You can’t take it with you. What you take with you is in here.

How to Create a Budget with Irregular Income

self employment

Following a budget can be challenging enough when you have a steady job that pays you a regular basic income, but can you imagine how extremely difficult it can be to create a budget with irregular income?

With a regular income, you can predict exactly how much money you’ll have coming in each and every month and you know exactly how much money you have to cover all your expenses. However, with an irregular monthly income, you have to contend with fluctuating income levels and commissions. It’s tough to plan when:

  • You don’t know how much you’ll earn,
  • You don’t know when you’ll get paid, and
  • You don’t know how much you’ll make the following month.

This is a common scenario for people who are:

  • Self-employed
  • Freelancers
  • Contractors
  • Working on hourly rates like bartenders, waiters and waitresses, custodians
  • Working on a commission basis like salespeople
  • Have side gigs that change up their income every month
  • When your income is reduced temporarily, for instance, because of COVID-19

If your income varies wildly depending on the day or season, here are some strategies to help you effectively budget.

Determine your baseline

determine baseline

Start by adding all the money that you are certain of for the month as income. This can be money you have coming in from your side hustle or business, plus unemployment benefits you may be receiving under the COVID-19 Emergency Response Act.

Your baseline is the minimum amount you want to focus on regardless of whether you make more or you earn less, for month by month. This is the amount you will work with to cover the bare minimum expenses you need to pay for on a monthly basis.

Track your monthly spending from previous months

monthly spending

The next thing to do is make a list of your spending and bills. This step is crucial to help you know what you absolutely need to earn monthly in order to pay your bills and get by.

Itemize each expense. For example:


Create a category for Necessities — essential, ongoing monthly expenses:

  • Rent or mortgage
  • Utility bills
  • Food and groceries
  • Medical bills
  • Transportation and fuel and car maintenance
  • Daycare
  • Taxes
  • Loans and debt repayments
  • Savings, investments

Create another category for Discretionary Expenses:

  • Cable/television bill
  • Entertainment
  • Expenses for fitness, sports or hobbies
  • Take out or dining expenses
  • Shopping for clothing, toiletries

During COVID-19, it may be easier to cut discretionary expenses completely. Expenses for dining out, entertainment and travel won’t be necessary due to social distancing measures. This means you may have more money to assign to debt repayments and savings for the month.

Allocate every penny

canadian penny

Once you’ve created your budget for necessities and added up your unnecessary expenses, you’ll know exactly how much money you need to make it through the month.

Expenses under the Necessities group are things that you couldn’t reasonably live without. So, more or less this amount is fixed. Those under the Discretionary group are the expenses that you’ll need to cut if you’re trying to make your budget fit your income.

The goal is to adjust your discretionary expenses until you’re back to living within your means.

Make sure you divide every income that comes into your necessities before anything else, otherwise you are going to run the risk of spending half of your income on discretionary items and not having enough left over for food and groceries.

Each month, repeat the process and make a new budget based on that month’s income and expenses, assigning each dollar in your budget to a particular expense.

Build your emergency fund

When you are living on an irregular income, it’s crucial to have ample savings to help fill in the gaps when bad months come along. Make sure to allocate a portion of your income into an emergency fund.  If you are just starting out, it would be best to put any extra money that you may earn towards emergency savings first. Do this until you have at least three to six months of expenses on hand.

financial goals

Create financial goals

If there is any extra money after expenses and emergency savings, make sure you carefully plan out what you’re going to do with it. Is it going towards paying off debt? Is it for savings for your children’s college education? Will it go towards your retirement savings? It’s important to set a goal for any excess money you may have so that you avoid the risk of blowing it.

A simple, stripped-down budget where you can see just your essential expenses, and nothing else, can be helpful in managing your spending if you have irregular income and also if you’ve experienced a job loss or if your income is reduced temporarily because of COVID-19. It can help you see exactly where every dollar is going each month and it can help you avoid unnecessary spending. When you budget with irregular income, every penny counts and there’s no room for money to slip through the cracks.

If you have trouble doing this and would like to discuss it we would be very happy to do so. Just call us at 1-888-545-5365 or email us at info@killen.ca.

If things have gotten troublesome with your debt situation, especially with this Covid-19 virus don’t hesitate to contact us for a telephone or Skype interview. We can help.

What We Can Do to Stay Safe and Healthy as COVID-19 Lockdown Eases

coronavirus lockdown

As Ontario and other provinces begin easing coronavirus lockdown restrictions, we’re adapting our lives to deal with the new changes the pandemic is having on our homes, schools, and work-places.  We have to accept life with the coronavirus, even though it will be pretty tough to balance normal daily life with quarantine efforts.

Let’s be guided by advice from The World Health Organization: “We should be ready to change our behaviors for the foreseeable future,” they say.

Here are some ways to stay safe and healthy and protect yourself as well as everyone around you when you start to go out in public and resume life amidst COVID-19.

Wear a face mask in public places

wear face mask in public

Public Health Ontario now recommends that everyone wear a non-medical mask in public to prevent transmission by people who are unknowingly infected with the virus. It’s an additional measure you can take to help cut down the spread of the virus particularly when you are in situations where you can’t always maintain proper physical distance from others.

Dr. Jessica Hopkins, medical director of health protection at Public Health Ontario she said, “When you are wearing a mask, it’s about protecting others.” The aim is to prevent transmission by people who are unknowingly infected with the virus.

Do not use medical or surgical masks because these should be reserved for health-care professionals. Popular options include, dust masks, which can be purchased from a local hardware store, reusable/washable, double-layered cloth masks with an insert for a disposable filter, or a simple scarf or bandana to cover the mouth and nose.

You should make sure that:

  1. The mask covers your mouth and nose, and
  2. Even while wearing a mask, you must continue to keep 6 feet between you and others.

Keep your distance

social distancing

The CDC describes social distancing, also called physical distancing, as “keeping space between yourself and other people outside of your home.” It includes:

  • Staying at least 6 feet (about 2 arms’ length) away from other people
  • Not gathering in groups
  • Staying out of crowded places and avoiding mass gatherings

As we begin going out in public again, make it a habit to keep six feet away from people while waiting in line at the grocery store or pharmacy, when going to a restaurant or cafe or other public places, make sure to check first if there are a number of other people who might be there and if you’d be able to ensure enough space and stay six feet away from others. If you absolutely have to go near other people, make sure to wear a mask.

Continue to work from home if possible

work from home

A work-from-home arrangement could be the new normal for many businesses, even after the COVID-19 lockdown as employers will continue to have their employees working from home.  If you can limit the days you have to physically go to work, this would help lessen your exposure to the virus.

If you are travelling to your workplace you will still need to observe the social distancing guidelines and stay six feet apart from other people. In the workplace,  make sure you help your place of work implement six feet social distancing as you and co-workers move around the office.

It’s important to remember that COVID-19 spreads mainly among people who are in close contact for a prolonged period, and people can spread the virus even before they know they are sick, so if you keep your distance from everyone you can avoid being exposed to the coronavirus and help slow its spread among those who come in close contact with you.

Replace hugs and handshakes with alternatives

Canadians are urged to limit close contact with each other. This includes no-handshake, no-hugging or making any close physical contact that can infect a person if they come in contact with the eyes, nose or mouth of another person.

As we start going out in public and meeting people again, let’s try to be less touchy and stop traditional greetings that involve any physical contact like hugging, high-fiving, cheek-kissing and handshaking, if possible.

Try these simple gestures that require zero physical contact:

Covid-19-Handshake-Alternatives-v3

Attribute to: Source     https://thespinoff.co.nz/society/16-03-2020/the-world-is-on-fire-my-message-to-new-zealanders-on-covid-19 Authors: Siouxsie Wiles and Toby Morris

Don’t touch surfaces

An extra measure to stay safe and protected when going out in public is to stop touching shared surfaces.

Try these alternative methods:

  • Use your knees, feet, elbows and knuckles instead of your fingertips to press the ‘Walk’ sign buttons in pedestrian lanes.
  • Push open a door with your shoulder, hip or foot instead of your hands.
  • Wear gloves if you have to tap out a PIN code or make a selection on a digital screen.
  • Wrap a scarf or the sleeve of your sweater or jacket around the handle of any doors you have to pull open
  • Flip on a light switch or sink faucet using your elbow or wrist.
  • Use gloves or a plastic bag to sort produce and canned items in the grocery store.

The key is to avoid exposing your skin to any shared surfaces where the virus may be lingering. If you use gloves or a piece of clothing, it will be so much easier to toss your clothing into the wash rather than run the risk of using your bare hands and then touching your face. If you have to touch, make sure to use a hand sanitizer or hand wipes or, better yet, make sure to wash your hands right away so you don’t spread the virus elsewhere.

use hand sanitizers

Don’t stop washing your hands

Hopefully, your hand-washing habits are deeply established by now and it will stick around even as COVID-19 lockdown eases. Remember that the goal of thorough hand washing is to minimize your risk of acquiring life-threatening symptoms, so continue to practice common hygiene, perhaps even more frequently now as you come into contact with people and common surfaces when quarantine ends. If you can’t wash with water and hand soap, use a hand sanitizer or hand wipes to break down the virus.

Don’t get too comfortable

covid precautions

It’s important to remember first and foremost that the war against the coronavirus is not yet over. The virus is still there, and the risk of becoming seriously ill from COVID-19 won’t go away until we achieve herd immunity or have access to a vaccine.

Already some countries across the world who have started lifting coronavirus lockdown are reporting new infection peaks. If we’re not careful, Canada could see a second wave of infections that could be even worse.

Our health and government officials are adamant in reminding us that even though some lockdown restrictions may loosen, physical distancing rules and guidelines still apply. This means that we still need to protect ourselves and others and do our part in limiting the spread of the virus as we all slowly work on trying to make a new life while facing the persistent threat of the virus around us.

As COVID-19 lockdown eases and many of us are still fearful of going back out — let’s truly take care of one another and let’s all do our best to continue to stop the spread. These simple ways will help to protect you and everyone around you and keep you safe from the virus.

And one last thing. If your finances have become hard to manage with the Covid-19 lockdown why don’t you contact us for a FREE telephone or teleconference interview.

1-888-545-5365 or info@killen.ca




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    Since 1992, Richard Killen & Associates, a Licensed Insolvency Trustee, have helped thousands of people resolve their financial problems. With 25 years experience in this industry, our president, Richard Killen, and the rest of our team understand the difficulties that honest people can sometimes find themselves in. This expertise makes it possible to provide you with a service that effectively deals with the issues.


    Serving the GTA for 25 years