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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 your income...
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 means...
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 are...
Consumer Proposal Meaning- What Is a Consumer Proposal?
People often ask, what is a consumer proposal what is the consumer proposal meaning or definition and how similar is it to a debt consolidation loan? A proposal is like a consolidation loan where your payments are made affordable and downgraded into a single monthly payment...
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
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
“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 quarter of...
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 as you’re...
Is A Spouse Responsible For Credit Card Debt in Canada?
When it comes to marriage, a question may arise: Is a spouse responsible for credit card debt in Canada if the other spouse declares bankruptcy? Sorry, Dear, I’m Bankrupt. Nothing can make for a frostier breakfast conversation than revealing your financial woes have led to...
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 to...
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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?