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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...
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...
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Recent Blog Posts
- Why More Canadians Are Choosing Consumer Proposals for Debt Relief and Financial Recovery
- Consumer Proposal vs. Bankruptcy in Ontario: How Income and Assets Decide Your Best Route
- Are You Managing Debt or Just Surviving It? 10 Warning Signs It’s Time to Seek Debt Relief Solutions in the GTA
- Borrowing for Home Renovations in the GTA: Questions to Ask Before Taking on More Debt and How an LIT Can Help
- Back-to-School Expenses Are Adding Up: How to Prepare Without Going Into Debt Help Ontario