Posts tagged credit
When Small Business Owners Run Into Financial Trouble, What They Need is Help

We believe that entrepreneurs should be encouraged and supported, particularly when they run into financial difficulty.

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What happens to a business when a shareholder goes bankrupt?

A shareholder’s personal bankruptcy or consumer proposal always creates questions and sometimes concerns for anyone who has an interest in the business. Here are a few answers.

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Buying vs. Leasing a New Vehicle – Part Two – The Risks and Benefits of Leasing

Remember, leasing is like renting so there are usage limits. This isn’t actually your vehicle.

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Buying vs. Leasing a New Vehicle – Part One – 3 Important Points to Remember

Figuring out how to pay for this expensive infrastructure is something most of us have to consider.

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Will My Separation Agreement Protect Me If My Ex Goes Bankrupt?

When a relationship ends it is not uncommon to have a formal separation agreement drawn up by a lawyer to spell out the responsibilities of each party.  Even though both parties may have agreed to assume responsibility for certain debts, it does not absolve the parties should one of them default on credit that was granted jointly such as joint credit cards or lines of credit.  

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Will Bankruptcy Ruin My Credit?

People often try to avoid bankruptcy at all costs because they are worried about ruining their credit rating.  They pride themselves on paying their bills on time, have always maintained a strong credit score and they thought of doing anything to jeopardize that is unthinkable.

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Will My Bankruptcy Affect My Spouse?

When you file for bankruptcy it does not directly affect your spouse or reflect on their credit report.  Your bankruptcy is between you and your creditors.  Your spouse is not liable for your debts simply because he/she is your spouse.  However, your bankruptcy can have an impact on the other person in the following ways:

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Good Debt vs. Bad Debt

Good debt is for purchases that appreciate in value or significantly improve your quality of life.  Bad debts on the other hand typically do not provide you with any long-term benefit.  If you carry a heavy amount of bad debt and only able to make minimum payments then it’s time to look for help.

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