Posts Tagged ‘PPR’

New Payday Loans Rules as of January 2018

If your finances are strained, a payday loan may solve an immediate need, but, their cost will take more money out of an already strained situation and, over time, make your situation worse.

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Week 2: How To Live In Debt To No One

Calvin Coolidge once said, “There is no dignity quite so impressive, and no independence quite so important, as living within your means.”  I like to think what he meant by this is that when you live within your means, you can hold your head high because you are beholden to no one. 

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What Is the Canadian Wage Earner Protection Program (WEPP)

Workers of companies that have gone bankrupt or under receivership may qualify to receive unpaid wages, vacation pay, and termination/severance pay. WEPP is a program that was established by the Federal Government in July 2008.  WEPP provides employees of bankrupt employers, or employers subject to a receivership, with the ability to recover up to approximately…

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What Does It Mean to Voluntarily File for Corporate Bankruptcy?

If your debt problems seem insurmountable – we can help. We service the Maritime Provinces. A company can face Corporate Bankruptcy either voluntarily or involuntarily. In order to become bankrupt voluntarily, the board of directors passes a resolution authorizing the company to file for Bankruptcy. Any company that owes at least $1,000 and is unable…

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The Up-Sell

You can’t make it through a drive-through without “do you want to upsize that?”, “can we add a muffin?”, “do you want to make a donation to….”; no, thank you, I just want the coffee I ordered!

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What Happens if I Default on My Consumer Proposal

If a debtor is 3 months in arrears of monthly consumer proposal payments the consumer proposal is deemed annulled, which means that creditors can resume collection actions. There is no automatic bankruptcy if a debtor defaults on a consumer proposal.

that fails to make more than 2 payments cumulative during the Proposal will have their Proposal annulled and creditors can resume collecting their balances plus interest less any payments made. While a default on a Consumer Proposal will not automatically result in a Bankruptcy, however, the debtor cannot file another Proposal.

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