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.
While Consumer Proposals can be tough on your credit rating, you can start rebuilding your credit almost immediately after filing. Your credit rating is an assessment of risk, and a representation of your record of paying back what you owe. It’s constantly changing to reflect your payments and delinquencies, which means that, by doing these
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.
Recent reports have shown a marked decline in personal Bankruptcy rates across the country, despite an increasing debt load for the average individual. We take a closer look at the data to explain this situation, which may seem surprising – or even counter-intuitive – at first glance.
Owning your first home is an exciting milestone, but for many people, it may seem like a hopeless or impossible dream. If you want to purchase a home in the next few years, but currently find yourself in debt, a Licensed Insolvency Trustee (LIT) can help.