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What is the Role of a Licensed Insolvency Trustee in Managing CRA Tax Debts?
Owing CRA tax debts can be overwhelming, especially since it is a known fact that the federal authority does have strong collection powers to collect the debt. A Licensed Insolvency Trustee (LIT) plays a crucial role in helping debtors navigate challenges in handling...
Can A Consumer Proposal Reduce Or Eliminate Tax Debts Owed To The CRA?
If you’re struggling with tax debt owed to the Canada Revenue Agency (CRA) you might feel like there's no way out. The CRA is known for being a powerful creditor with aggressive collection powers, such as wage garnishments, bank account freezes, and liens on property...
How is a Consumer Proposal a Viable Alternative to Bankruptcy in Canada
Are you having financial difficulties and looking for an alternative to bankruptcy? A consumer proposal offers a way to resolve debt problems while avoiding the more severe consequences of declaring bankruptcy. In a Consumer Proposal you work with a Licensed Insolvency...
Can You Adjust a Consumer Proposal
Under certain circumstances, yes, it is possible to adjust a consumer proposal to accommodate changes in your financial situation. This can be done through your Licensed Insolvency Trustee (LIT). Your LIT will file the request for amendment and present a new deal with your...
How Debt Impacts Your Quality of Life and How to Cope
Debt that is too overwhelming to manage can significantly affect your quality of life in various ways. Over time, the stress of managing debt can impact your emotional well-being, relationships, physical health, and also your job performance. It's important to remember that...
Financial Literacy – Key Skills for Preventing Debt Accumulation
Financial literacy is having the knowledge and skills to make informed decisions related to effective money management. It involves acquiring, developing and using the information and skills acquired in such a way that one becomes accustomed to handling money in a way that...
Can You Keep a Credit Card During a Consumer Proposal?
The question “Can I keep a credit card during a consumer proposal” is a common concern among individuals while going through this legal process to eliminate unmanageable debt. As you navigate the complexities of a consumer proposal, it's important to understand how credit...
Overview of the Legal Aspects of Debt Counselling in Toronto – Rights, Regulations, and Responsibilities
Debt counselling in Toronto, also known as credit counselling, is a debt relief service designed to help individuals manage their debt and other financial challenges effectively. Many people have taken on some form of debt in their life. Whether it's for buying a home...
How Popular Is Credit Counselling in Toronto
Credit counselling in Toronto is quite popular and widely utilised by many Torontonians facing financial challenges and looking for effective ways to manage and reduce debt. Debt management is a major concern for many people in Toronto. If you have debt – you’re certainly...
Bankruptcy and Homeownership in Canada – Understanding the Immediate and Long-term Impact
There are several key factors about bankruptcy and homeownership in Canada that can shed light on how financial insolvency impacts your property rights and ownership and the legal and economic considerations involved both immediately and in the long term. If you're drowning...
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Recent Blog Posts
- Can a Licensed Insolvency Trustee Advice on Budgeting Tips?
- What is the Role of a Licensed Insolvency Trustee in Managing CRA Tax Debts?
- Can A Consumer Proposal Reduce Or Eliminate Tax Debts Owed To The CRA?
- How is a Consumer Proposal a Viable Alternative to Bankruptcy in Canada
- Can You Adjust a Consumer Proposal