Posts Tagged ‘personal bankruptcy’
The Cost of Credit Card Debt
If you are struggling to keep up with credit card debt and don’t see your balances decreasing this is a sign to seek professional help. A Licensed Insolvency Trustee can review your financial situation and help you find the best strategy to deal with your credit card debt.
Read MoreCan Bankruptcy Deal With My Student Loans?
Individuals who file a personal bankruptcy or consumer proposal, at least 7 years after ceasing to be a part-time or full-time student, are released from paying their Canadian student loan debt.
Read MoreWhat is Surplus Income and How Will it Affect My Bankruptcy?
Surplus Income is having excess income above the net monthly income threshold, set by the Superintendent of Bankruptcy, for a person or family to maintain a minimal standard of living in Canada.
Read MoreThe Importance of a Good Credit Rating
Since your credit score is a reflection of how you have or have not paid your bills in the past, many businesses, landlords, mortgage lenders, utility providers, and even employers; use your credit score to predict your future financial responsibility. Anytime you need to borrow money, or even use services, your credit score is may be called into question. This is why maintaining good credit score is important.
Read MoreWhat Happens to my Investments in Bankruptcy
Your RRSP is exempt from seizure except for your contributions in the 12 months before filing personal bankruptcy or a consumer proposal.
Read MoreWhich Debt Solution 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 stressed out consumers who are in need of debt relief.
Read MoreWhy Choose a Licensed Insolvency Trustee For Advice?
A Licensed Insolvency Trustee will treat you in a dignified manner and review the facts of your situation and review the options to deal with your financial situation, including explaining how personal bankruptcy or a consumer proposal would work for you so that you can make an informed decision and choose the solution that is best for you.
Read More10 Warning Signs of Financial Hardship
Most people don’t want others to know about their finances so they avoid reaching out for help out of embarrassment and fear. However when they finally build up the courage to make that call or send that email, they usually feel a great sense of relief and are surprised to find out that it’s not nearly as bad as they had imagined; there are solutions.
Read More5 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. Most bankruptcies are triggered by life events such as marital breakdown, loss of job, illness or decreased income.
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