Blog
What Happens to My Retirement?
Hi. I’m Richard Killen from Richard Killen & Associates. Just because you’re retired or approaching retirement doesn’t mean you can’t run into credit or debt problems. If that comes about, one of the concerns you may have is what will happen to your retirement savings...
Money Doesn’t Grow on Trees
For more than 20 years, Bill had run a successful Toronto tree care business, doing tree removals, pruning, planting and much more. His finances fell into the rhythm of the growing season. In the spring, the work would flood in and then taper off into the summer and fall. In...
Gail Vaz Oxlade Budget Calculator for the True Cost of Debt
The Gail Vaz Oxlade budget calculator can be used to calculate the true cost of debt. Many people do not have a clear idea of what their debt really costs them, whether it is a credit card balance or a student loan. Financial writer Gail Vaz-Oxlade points out in “How Much is...
Are We Going to be Homeless?
Hi. I’m Richard Killen from Richard Killen & Associates. Richard Killen has offices across the GTA. One of the most frequently asked questions I get as a Licensed Insolvency Trustee is, “If I go bankrupt or do a consumer proposal, will I lose my home?” Well, probably...
It’s the Little Savings That Count
We all know about the big buys that do damage to our bank accounts: homes, cars, vacations, etc. But equally insidious are the small regular purchases that we don’t really notice but add up over time, whether it’s expensive designer coffee or unused gym memberships. Here are...
Relief From Collection Agencies
Hi. I’m Richard Killen, from Richard Killen & Associates. When you fall behind in your debt payments and creditors and agencies start calling, simply answering the phone can be an ordeal, especially if it’s never happened to you before. As a Licensed Insolvency Trustee...
Serenity After Trial
“I thought the process was going to be hideous, humiliating and shameful,” Karen recalls of her bankruptcy more than a decade ago. “I was terrified when I went to see Richard Killen. I was in tears as I walked into his office.” Karen’s story of battling debt is a familiar...
Pre-Retirement Canadians Embrace Mortgage Debt
People looking forward to retirement usually try to retire their debts first, especially their mortgages, so they can enjoy their leisure without financial worries. But a story in the Globe and Mail reveals that more and more Canadians are going into their golden years with...
Graduating Into Debt
Getting a student loan can be double-edged sword. Many kids can’t afford a higher education without one. But the downside is that a lot of students either they doctors, engineers or business students are graduating with huge debts that they many find hard and in some cases...
Informal Arrangements Need Full Agreement
One of the options in dealing with a debt crisis is an informal arrangement. This is essentially reorganizing the debts that you have with the creditors you owe the money to. We’re not talking here about a consolidation loan. That’s different because you end up with only one...
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Recent Blog Posts
- Ask the Trustee: If I file for bankruptcy or consumer proposal, will I lose my house?
- Can I Keep My House If I Make a Consumer Proposal?
- What Services Can a Licensed Insolvency Trustee Provide?
- How to Get Out of a Car Loan in Canada When You’re Struggling
- Can I Keep My House If I Make a Consumer Proposal?