Blog
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...
Highway No Longer Takes Toll on Bankruptcy
The operators of Ontario’s Highway 407 Express Toll Route (ETR) can no longer arrange for vehicle permits to be withheld from bankrupt drivers, according to a recent Ontario’s Court of Appeal ruling. A January 2nd Toronto Star article states, “A recent series of court...
Consumer Proposal or Bankruptcy?
If you are coping with severe debt problems, you have five choices to deal with the crisis: Get a consolidation loan, try to negotiate with your creditors, run away, do a consumer proposal, or go bankrupt. The first three options you can handle yourself (we don’t recommend...
Cure Your Holiday Hangover with Credit Free Fridays
During the holiday season, the joy many of us feel is tempered by our dread at opening credit card invoices in January. Apparently we pay for our pleasures. We will make New Year’s resolutions and vow to shed weight at the gym and through dieting. Why not put your budget on...
A New Problem for the Old
While aging baby boomers aspire to a placid retirement, this dream is being threatened by a growing problem: senior debt. An August 2013 article in Financial Post says, for example, “A report provided ratings agency Equifax Canada shows average debt for consumers aged 65...
