Posts Tagged ‘unsecured creditor’

What Does It Mean to ‘Restructure’ or File a Corporate Proposal?

When their is a viable business with too much debt to handle, a Corporate Proposal can be used to restructure the Company so it can continue in business. We can help guide the business through a restructuring. A corporate proposal is filed with the intent of restructuring the debt of a company and allowing the…

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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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Can I Declare Bankruptcy If I Live Outside of The Country?

Generally speaking, under the Bankruptcy & Insolvency Act, if you reside outside of the country you can still declare bankruptcy as long as you meet certain criteria. If you are a previous Canadian resident and are have debt issues you should contact Powell Associates Ltd. to determine if you meet the criteria to file personal bankruptcy or a consumer proposal in Canada.

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My Bank Account Is Always In Overdraft

Banks charge interest on overdraft account as high as 20%; this can be a costly form of credit. If you find that you are carrying an overdraft balance and running out of money between pay periods, this can be an early warning sign of future financial difficulties.

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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.

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Can 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.

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