The 2017-2018 Canadian tax deadline is just around the corner — which might be a source of stress if you’re worried about CRA collections. CRA collections can lead to severe financial consequences. CRA can pursue someone criminally, but they usually rely on penalties, interest, and collection action — such as wage garnishments — instead. If
If you have been struggling with financial challenges and difficulty managing your debt, you may have already considered debt consolidation options, including Consumer Proposals. Deciding who to turn to when you have a financial problem can be confusing with so many different types of companies purporting to offer financial help. If you are wondering where
If you have too much debt to pay back through budgeting alone, you may be considering other debt consolidation options, such as a Consumer Proposal or Bankruptcy. In Canada, you’re not alone. Nearly 130,000 Canadians filed a Consumer Proposal or declared Bankruptcy in 2016. But what’s the difference? If you’re considering a Consumer Proposal vs.
A low credit score can make life more difficult. It can be harder to get loans, and the loans you are eligible for will likely come at a higher interest rate. Knowing how to improve your credit score isn’t just nice-to-know information — it can actually improve your life. If your credit score is lower
The start of 2018 isn’t only bringing in a new year — for Canadians, it’s also bringing in new mortgage rules. In October of 2017, the Office of the Superintendent of Financial Institutions (OSFI) put new mortgage rules in place. The big one is a new mortgage stress test for uninsured mortgages. Those with a
When it comes to pursuing outstanding debt, creditors are given a small amount of leeway. Unfortunately, not all collection companies respect the limitations, and some like to push the boundaries in an attempt to apply additional pressure to their debtors.
Debt consolidation can be a life-saver, particularly when facing a potential Bankruptcy. However, while debt consolidation services can often present a feasible solution for managing debt, it’s not always the best choice for every financial situation.
There are many reasons why a Consumer Proposal is a preferable alternative to Bankruptcy. One key distinction between the two options that we often get asked to elaborate upon is the different payment methods: Bankruptcy payments may vary, while a Consumer Proposal has fixed payments. This has the great advantage of certainty.
We’re proud to announce that we have been listed as one of the top three Licensed Bankruptcy Trustees in Toronto, by Three Best Rated™. We would be remiss if we didn’t also mention that we bring this same top-rated service and expertise to the Golden Horseshoe, through our office in Hamilton.
There are a number of reasons why people find themselves in debt, including unexpected job loss, health problems, marital breakdown, income tax, and financial mismanagement, to name a few. In a previous post, we discussed debt related to job loss. In this blog post, we will explore divorce in greater detail: what to do if