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How Much Is Too Much?

How Much Is Too Much?

People sometimes ask: “If I go bankrupt will the trustee take all my income?” Well the simple answer is NO. But to understand that answer you need to wade through some layers of legal complexity. While you go through bankruptcy, the trustee is required to monitor ...

Is Money the Root of All Evil?

Is Money the Root of All Evil?

As many of us struggle with our finances, we have a love-hate relationship with the all-mighty dollar. To put our problems in perspective, or to give voice to our feelings, here are some words from notable figures on the subject of money. “Anyone who lives within their ...

What Are the Alternatives in Coping With a Debt Crisis?

What Are the Alternatives in Coping With a Debt Crisis?

No one wants to go bankrupt. It is the last resort when faced with insurmountable financial problems. But even if your payments are in arrears and you are getting collection calls, there are other options besides a bankruptcy, which we at Richard Killen & Associates ...

What Is a Consumer Proposal?

A consumer proposal is like a consolidation loan, in that your payments are reduced to one monthly payment.  You make the payments to a trustee, who accumulates them and every six months pays the money out to your creditors. The thing about a proposal is that it doesn’t ...

Stop Harassment by Creditors

Stop Harassment by Creditors

Debt collectors can be, uh, zealous in their pursuit of money owed. Stories of daily phone calls, threats, bothering friends and relatives, and late-night contacts abound. In some cases debt collectors have aggressively pursued ridiculously small amounts of money, and even ...

Five Myths About Bankruptcy

Five Myths About Bankruptcy

When facing financial desolation, it’s hard to think straight, you are so gripped by worry. Bankruptcy plays into many people’s doomsday scenarios, imagining that it will be the end of them financially and personally, as family relationships are ripped apart under the ...

Canadians Groan Under Unprecedented Debt Burden

Canadians Groan Under Unprecedented Debt Burden

“I owe, I owe, it’s off to work I go” is what Canadian are apparently singing to themselves these days. A new survey conducted by credit rating agency Equifax Canada reveals that Canadians are groaning under record levels of debt: $1.422 trillion in the fourth ...

Five Ways to Rebuild Your Credit

Five Ways to Rebuild Your Credit

You’ve gone through a bankruptcy and you want to get your life back to normal as fast as possible. While it won’t happen automatically and you will have to be proactive about it, you can actually take steps to start repairing your credit rating right away – as soon ...

Sorry, Dear, I’m Bankrupt

Sorry, Dear, I’m Bankrupt

Nothing can make for a frostier breakfast conversation than revealing your financial woes have led to bankruptcy. Fuelling the tension of guilt and anger is the fear one spouse filing for bankruptcy is going to drag down the other. But if you do file for bankruptcy does ...

Will I Lose My Home in a Bankruptcy?

Will I Lose My Home in a Bankruptcy?

The fear of losing your home is a powerful one. When their finances go south, many imagine that bankruptcy will leave them homeless. Is this fear justified? Not really, or not in the normal course of a bankruptcy. Yes, when you go bankrupt, you give control of your assets ...








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About Richard Killen & Associates


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.


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"Serving the GTA for 25 years."