The Advantages & Disadvantages of a Consumer Proposal
If you’re having trouble making ends meet every month, you’re not alone. A recent study by the credit reporting company TransUnion has determined that nearly one-third of Canadians don’t feel they can pay their bills in full. So what is a hard-working family to do if they find themselves in this situation? One option would…
Read MoreUnable to Make Your CERB Repayment? You Have Options
Thousands of Canadians have been issued a CERB repayment letter demanding repayment of Covid relief funds. If you’ve received such a letter, this situation needs to be addressed as soon as possible. Postponing payment, or failing to set up a payment plan with the entity that sent you the CERB repayment letter, can result in…
Read MoreAlternatives to Bankruptcies: Pros and Cons of Filing in Canada
Navigating a financial slump can be a difficult and uncertain time for individuals and businesses alike, with bankruptcy often looming as the only option. But luckily, there are some bankruptcy alternatives to consider before taking such a drastic step, including debt consolidation, consumer proposals, credit counseling, and debt settlement. This article will: Weighing up all…
Read MoreHow to Stop a Wage Garnishment in Canada
Are you behind in payments to your creditors? Are they starting to threaten wage garnishment? Or, worse, have you already received a notice of garnishment? There is no need to panic just yet. Garnished wages can have a detrimental effect on Canadian families who are already struggling. But there is hope. In this article, we’ll…
Read MorePowell Associates Welcomes Angela Rodgers & David Moffatt As Partners
Robert Powell is pleased to announce that Angela Rodgers and David Moffatt have become part owners of Powell Associates Ltd. Together, Angela, David and Robert now own the firm and will manage it together. Angela is now the President of the firm and David and Robert are Vice Presidents. Robert founded Powell Associates in 2010…
Read MoreCanada Student Loans Forgiveness: What You Need to Know
If you are a Canadian with outstanding student loan debt, you may be eligible for student loan forgiveness. There are many repayment assistance programs that exist both federally and provincially, but most of these programs focus on reducing your student loan debt payments which still leaves you with an outstanding balance on your student debt.…
Read MoreHow To Get Out Of Payday Loan Trouble
Most people are familiar with the term “payday loan” but may not be entirely sure how they work. A payday loan is a type of short-term borrowing where you typically borrow against your next paycheck. We first recommend reading our article on the 10 ways to pay off debt fast, and then come back here!…
Read MoreAvoiding The Debt Consultant Trap
In recent years, the number of debt consultants in Canada has seemingly increased significantly. These businesses claim to offer to help consumers reduce their debt, stop interest, and stop collection calls. These claims seem great – I mean who wouldn’t want all those benefits? The issue is that all of these claims are misleading at…
Read MoreFiling Bankruptcy When Married or Common-Law: What You Need To Know
Filing for bankruptcy is a difficult decision to come to. There are many factors to consider when determining if it’s the right option for you. When you’re married or in a common-law relationship, debt problems become more complicated. Filing bankruptcy as a married person or common-law partner has its own set of concerns that must…
Read MoreHow To Get a Mortgage After Bankruptcy: Mortgage For Bankrupts 101
**Note to reader: This article was written by Alex Lavender, a Halifax-based local mortgage broker. We are asked this question often and thought it would be best to get information directly from an industry professional. If you have any questions about obtaining a mortgage after you have filed for a bankruptcy or consumer proposal, we…
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