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It’s unfortunate that many individuals are afraid to declare bankruptcy because they feel that their peers, colleagues, or even employers will view them as irresponsible. Yet, there are many genuine reasons that could move a person towards filing bankruptcy, from lost or diminished income due to the death of a spouse to severe illness to divorce.  Read More

Many Canadians struggle with debt for longer than they need to because of the fear that declaring personal bankruptcy could tarnish their image. However, there are numerous challenges that cause another 120,000+ Canadians to file for bankruptcy annually. You’re not alone.  Read More

In Canada, the statute of limitations prohibits creditors from collecting or suing for unsecured debt in certain situations after a certain time period has passed. Keep in mind that the debt still exists, however it can not be collected by the creditor. Expiry places you in a favourable position to negotiate a good settlement.  Read More

Debt counselling can help consumers who have incurred significant debt achieve financial freedom. Some of the warning signs of accumulating debt include: If any of these things describe your current financial situation, you may be in need of debt counselling.  Read More

Consumers overwhelmed by debt have a number of options for getting their finances back in order. While the requirements for some forms of reducing debt, like credit consolidation, are clear, those for bankruptcy are often misunderstood, causing many people to delay the bankruptcy process.  Read More

Discharging your debts is a major achievement – and typically the final step of the bankruptcy process. However, there are some instances when the bankruptcy continues after a failed discharge, requiring the continued participation of the court, the creditors, and your licensed insolvency trustee.  Read More

When overwhelmed with debt, many consumers opt for consolidation services to simplify their debt management, maintain access to credit, and safeguard their credit rating. But there are some cases where filing for bankruptcy is the better alternative to obtaining debt relief.  Read More

Studies show that about eight percent of Canadians are frequent payday loan consumers. These loans are attractive to many people who have an urgent need for funds – including for car repairs, medical emergencies or even grocery shopping.  Read More

Many professionals don’t work for single company until retirement. In fact, most employees feel the need to change their job every few years to assist with career development and to meet their personal needs. During this time, it’s typical to accumulate a significant sum of pension money.  Read More

In the last ten years, the number of federal and provincial student loan borrowings has increased considerably – and so has the number of student loan bankruptcies.  Read More