Are you Interest(ed)?

Are you Interest(ed)? [caption id="attachment_6193" align="alignleft" width="149"] Interest Rate Increase[/caption] I’m 53. My wife and I bought our first house in 1988. The interest rate on the first mortgage was 8% and we had a second mortgage at 12%. I do chuckle at current interest rates Read More...

The Up-Sell

This is my rant on up-selling. It seems out of control. Almost every time I buy something, the cashier, order taker or customer service rep is trying to sell me something that I don’t need and didn’t ask for.  I appreciate good customer service but Read More...

Statute Barred Debts

  [caption id="attachment_6166" align="alignleft" width="184"] "If your debts are old, you don’t have to pay them; they just go away.” Is this truth or another urban legend?[/caption] Following up on last month’s article “Don’t Stick Your Head in The Sand!”, we quite often hear “If Read More...

Don’t stick your head in the sand!

[caption id="attachment_6161" align="alignleft" width="600"] Don't Stick Your Head in the Sand[/caption]   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 is ugly. We see this everyday, Read More...

Student Debt Relief

Student Debt Relief Are you struggling with Student Debt, there is the a new program being offered by the federal and/or provincial governments.  Repayment Assistance Plan (RAP) and the Repayment Assistance Plan for Borrowers with a Permanent Disability (RAP-PD), these programs were created to make Read More...

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...