RRSP

What Happens to my RRSPs and Other Investments in Bankruptcy or a Consumer Proposal

What Happens to my RRSPs and Other Investments in Bankruptcy or a Consumer Proposal Here are the five most common investments and how they are dealt with when filing for personal bankruptcy or filing a consumer proposal: RRSPs are exempt from seizure with the exception of contributions made by you during the 12 months prior … Continue reading “What Happens to my RRSPs and Other Investments in Bankruptcy or a Consumer Proposal”

Consumer Proposal, Debt Management or Debt Settlement – Which is Right for Me?

Consumer Proposal, Debt Management or Debt Settlement – Which is Right for Me? With consumer debt at an all-time high the number of companies offering credit counselling or debt settlement services are multiplying at an alarming rate.   Many of these companies have large advertising budgets and slick websites designed to play on the fears of … Continue reading “Consumer Proposal, Debt Management or Debt Settlement – Which is Right for Me?”

Why Choose a Trustee For Advice?

Why Choose a Licensed Insolvency Trustee For Advice? There are many companies in Canada who claim they can help you reduced your debt.  Whether they are profit driven or not-for-profit organizations they each charge service fees to help you negotiate a repayment plan or settlement agreement with your creditors.   Some have contractual agreements with creditors … Continue reading “Why Choose a Trustee For Advice?”

10 Warning Signs of Financial Hardship

10 Warning Signs of Financial Hardship Sometimes it’s not always obvious that you’re heading towards financial difficulties until it’s too late. If any of the following warning signs describe your situation then it’s time to seek help from a licensed professional. Relying on credit for everyday expenses like gas and groceries Falling behind on utility … Continue reading “10 Warning Signs of Financial Hardship”

myths sign

5 Myths About Bankruptcy

5 Myths About Bankruptcy Filing for personal bankruptcy can be a very stressful event due to the stigma and misinformation that surrounds this topic.   Bankruptcy is often thought of as something that happens to irresponsible people or those who cannot properly manage their financial affairs.  In many instances, this couldn’t be further from the truth.  … Continue reading “5 Myths About Bankruptcy”