The New Debtor Prison

The New Debtor Prison Even though Debtor Prison was abolished in Canada in the mid 1800’s, some consumers still fear they will be sent to jail if they can’t pay their debts. However we have found that a new form of debtor prison exists and Read More...

2017 Surplus Income Standards

2017 Surplus Income Standards On February 22, 2017 the Superintendent of Bankruptcy recently released the following new standards for the calculation of surplus income for bankrupt individuals via Directive No.11R2-2017. When an individual files for personal bankruptcy the trustee will calculate whether or not he Read More...

Budgeting 101 – Part 5 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the March 2017 issue of the District News. In Part 4 of the series, I talked about dealing with lumpy expenses.  In the 5th and final part of this series I will be discussing Catastrophic Read More...

Why People Delay Getting Help With Their Debt

More often than not people go to see a Licensed Insolvency Trustee only as a last resort.   The longer an individual waits to get help with their finances, the harder it is to help as the number of options is greatly reduced.  By the time most Read More...

Budgeting 101 – Part 4 of 5

The following article by Robert W. Powell, CPA CA CIRP LIT, was published in the February 2017 issue of the District News. In Part 3 of this series, I discussed annual expenses.  In this Part 4, I am going to deal with lumpy expenses. Lumpy expenses, as I call Read More...

Can I Go Bankrupt If My Debts Are The Result of Gambling?

Can I Go Bankrupt If My Debts Are The Result of Gambling? Consumers get into financial trouble for a variety of reasons, none of which will exclude them from filing a bankruptcy and subsequently obtaining a discharge. For a first time bankrupt with no surplus Read More...

Will I Lose My Canada Child Benefit (CCB) If I File For Bankruptcy?

Will I Lose My Canada Child Benefit If File For Bankruptcy? The short answer is no, you will not lose your Canada Child Benefit (CCB) if you decide to file for bankruptcy protection under the Bankruptcy And Insolvency Act (BIA). The Canada child benefit (CCB) Read More...

Tackling Your Finances Head On

Tackling Your Finances Head On The following article was published in the April 2016 edition of the District News. Hiding from the reality of your financial situation will do nothing to improve it.  People have a pre-disposition to hide from the truth, particularly when the truth Read More...

Can A Person Have Savings During Bankruptcy?

Can A Person Have Savings During Bankruptcy? The short answer is “Yes”. By definition savings can consist of actual cash holdings, RRSPs and other investment products, pensions, and the cash surrender value of insurance policies.  Your bankruptcy trustee will recover any non-exempt portion of your Read More...

2016 New Brunswick Home Energy Assistance Program (HEAP)

2016 New Brunswick Home Energy Assistance Program (HEAP) The New Brunswick government is offering a one-time benefit of $100 to help low-income families with their home energy bills.   The government has had similar programs in the past to help families off-set some of the cost of Read More...