Posts in Uncategorized
The New Debtor Prison

These tactics can leave a person feeling afraid to answer their own phone and for some it can cause undue stress and anxiety which can negatively affect their everyday life and ability to function at work.

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Budgeting 101 – Part 4 of 5

Lumpy expenses, as I call them, are expenses that we know (or should know) are coming down the track and will have to be incurred but only happen once in a lifetime or only once every couple, few, 5, 10 or 15 years (or so). Lumpy expenses can cause significant stress if you have not prepared for them. 

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Bankruptcy: My Name is Still On My Ex-Spouse’s Home

To get your name off of the mortgage, your ex-spouse will have to qualify for the mortgage, in his or her own name, when the mortgage comes up for renewal.   Whether or not they qualify is up to their financial institution.

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What Are the Different Types of Bankruptcy Administrations?

Summary administration bankruptcy, there is no notice in the newspaper and no automatic meeting of creditors. Ordinary administration bankruptcy, there is a mandatory meeting of creditors and there is also a requirement for the Trustee to publish a notice of the bankruptcy in the newspaper.

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Financial Math - The 5% House Down-Payment

The reality is that house ownership can be the root of a myriad of problems, one of which is tied to the 5% down-payment. With mortgage insurance, you can buy a house with only a 5% down-payment.  Mortgage insurance is actually required whenever your down-payment is 20% or less of the purchase price.

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July 2016 Personal Bankruptcy & Consumer Proposal Statistics

New Brunswick - there were 2,843 personal bankruptcies and 1,455 consumer proposals filed in the 12-months ended July 31, 2016.  Personal bankruptcies were down 4% and consumer proposal filings were up 1.2% as compared to the 12-months ended July 31, 2015.

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

For individuals who are problem gamblers we strongly recommend other counselling to help address the addiction.  Bankruptcy may provide short-term financial relief but cannot resolve the issue of gambling unless it is combined with other treatment.

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