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Mission Possible: Building Credit After Bankruptcy

Rebuilding credit after bankruptcy and contributing to your savings account doesn’t have to be mutually exclusive. Rebuilding credit is NOT for the purpose of incurring more debt. The purpose of rebuilding credit is to achieve FUTURE financial goals and making...

How is a Consumer Proposal Different than Bankruptcy?

Most of our clients ask us: What is the difference between a consumer proposal and bankruptcy? Both, Bankruptcy and a Consumer Proposal need to be filed by a Licensed Insolvency Trustee (LIT) and have similar benefits:   Eliminate debt and get a fresh start.   Receive...

What Does Bankruptcy Cost?

When you declare bankruptcy, there are three different costs in regards to what you have to pay during the process. These costs are: Base Contribution Surplus Income Assets Lost During each month of bankruptcy, you are required to pay a base contribution. The amount...

What if I Owe More Than The Value of the Car?

During the process of filing for bankruptcy, sometimes it is best just to file out certain things you don’t need, otherwise you may find yourself stuck in a contract that makes it more difficult for you to get your way back to financial security. For instance, if you...

What Happens to the Garnishee at Work When I File a Bankruptcy?

Garnishments are processes where, in order to pay off your debt, a certain amount of subtracted from your income each month. As you might expect, this can interfere with your ability to get your financial debt back on track, especially if the amount deducted is high....

How Do I Declare Bankruptcy?

By approaching a Licensed Insolvency Trustee, you begin the process of declaring bankruptcy. The process involves you filling out vital information regarding your financial situation, your debt, your assets, your tax situation, and your income capacity. Using this...

Can Someone Collecting Pension Declare Bankruptcy?

When you are a senior, it can be difficult generating the amount of income required to pay off debts, especially when you don’t have a job. As a senior, you may be troubled by your medical bills, rising property taxes, and other inflation-related issues, and...

 

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