Blog

First, tax refunds are considered to be an asset. When you file for bankruptcy under the Bankruptcy and Insolvency Act performed by Industry Canada, your trustee will become the administrator of your assets.  Read More

The Canadian government allows its citizens to contribute towards saving for their children’s post-secondary education via the Registered Education Savings Plan (RESP Canada). The plan receives contributions from both individuals and government grants, with the growth and investment returns sheltered from all taxes until you withdraw.  Read More

If you have filed for bankruptcy in Canada, you are aware of the financial hurdles that are sure to come your way. First, your credit score will inevitably go up and down throughout your bankruptcy. But you don’t have to worry. You are in the driver’s seat when it comes to rebuilding your credit score for securing your financial future.  Read More

When declaring bankruptcy in Canada, your trustee goes through the initial process of assessing your liabilities and assets. From there, your trustee deals with your creditors until you get your bankruptcy discharged. However, timing is everything when you file for bankruptcy.  Read More

Filing for bankruptcy can be a difficult decision, with potentially drastic consequences that will impact many facets of your life. Understanding both your situation and the bankruptcy process in Ontario is the first step in ensuring you are making a decision that will benefit you in the long term.  Read More

While facing bankruptcy, you will inevitably be forced to address various creditors who are involved with the accumulated debt. One of the more difficult and frustrating kinds of loans to assess will be debt from family. Debt with family members is the same as any other unsecured debt and must be included.  Read More

Filing for bankruptcy in Canada has some serious financial repercussions. However often, by the time you file for bankruptcy your credit score is not very good. Specifically, your credit score will go through several changes during the period of bankruptcy. So what happens to your credit rating during bankruptcy?  Read More

Bankruptcy can cause issues when someone is planning to sponsor their family for permanent residency so they can join them in Canada. Does bankruptcy affect an individual’s family immigration sponsorship process? Yes, it does. However, there are steps you can take to alleviate delays and mishaps while waiting for sponsorship approval.  Read More

Education is one of the most important tools you can acquire to help build a solid foundation for your future. Investing time and energy in your education can be laborious, but ultimately fruitful.  Read More

Financial troubles can be very difficult to manage, and you may find yourself drowning in more debt and have so many bills to a point where they become unmanageable—in situations where your assets are limited, and you have no extra income, paying off your debts may not be realistic.  Read More