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A New Name – Licensed Insolvency Trustee

Posted on Feb 3, 2016 in Bankruptcy, Debt Counseling, Uncategorized |

The bankruptcy and proposal business is going to have a new player – at least it will appear that way. Since 1920 Trustees have had the title “Trustee in Bankruptcy”. Effective April 1st, 2016, Trustees are going to have a new name. We will be called “Licensed Insolvency Trustees”. Actually this change has been coming for some time. Over the past 25 years the insolvency business has changed considerably. Trustees, who used to primarily...

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Being Human: Debt relief is just a phone call away

Posted on Jun 15, 2015 in Uncategorized |

When people come to Richard Killen & Associates for bankruptcy or debt relief services, we don’t sit in judgment. It wouldn’t be fair anyway, because most people are their own harshest critics. These people come to us at one of the worst times of their lives, when their worlds seem to be crashing around them. They feel afraid and guilty. The very act of opening the front door to our office can require an enormous act of will, to confront...

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Five Reasons People Consider Declaring Bankruptcy

Posted on May 22, 2015 in Uncategorized |

While many people believe that declaring bankruptcy is always a sign of financial mismanagement, this is not always the case. Misfortune and disaster can also lay low someone who had been keeping their head above the financial waters. So here are five common reasons people become insolvent and may need a bankruptcy or a consumer proposal to solve their problem:   1. Losing their job In an “iffy” economy, unexpected job loss is an increasingly...

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Debt Consultant- Canadian Debt Alert!

Posted on May 8, 2015 in Uncategorized |

Many more Canadians are tying rocks around their waists and jumping into a sea of debt. If this sounds familiar, it may be time to talk to a Toronto debt consultant. According to a report recently released by Statistics Canada, “Changes in debt and assets of Canadian families, 1999 to 2012,” more than a third, of families had a debt-to-income ratio above 2.0 in 2012. In other words, their level of debt was at least twice that of their annual...

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4 Things About Financial Planning In Toronto That Are Untrue

Posted on Apr 22, 2015 in Uncategorized |

People come up with a lot of reasons to avoid financial planning in Toronto and not to plan for their financial future. They’re too young, too old, too broke and so on. But the truth is, financial planning, and the services of financial planner, can help you make a game plan so you can get where you want to go, whether it’s retirement with an adequate income or making a major purchase, such as a house or a car.   So here are four myths about...

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How Do You Stop Collection Calls In Toronto?

Posted on Apr 11, 2015 in Uncategorized |

Many Toronto residents often wonder “How do I stop collection calls?” The fear of a ringing phone is one sign that you’ve let your debt get out of control and now the collection agencies are after you. And they can become very aggressive. There are stories of agencies haranguing people in their homes at 3 am, or even going after people who don’t owe money. With economic downturns and the record amount of debt carried by Canadian families, many...

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