How to pay off a Consumer Proposal Faster

How to pay off a Consumer Proposal Faster

A consumer proposal is an instrument available in Canada that legally binds you and your unsecured creditors, allowing for repayment of debts with reduced interest rates. A consumer proposal can reduce the total of your debt by up to 80%. You will cover that reduced...
Mistakes you should avoid when filing for bankruptcy

Mistakes you should avoid when filing for bankruptcy

The Bankruptcy and Insolvency Act is designed to help people be discharged from excessive debt and give themselves a fresh start financially. If you think that bankruptcy might be the answer to your problems, consult with our bankruptcy trustee in Waterloo. Before you...
What is the difference between bankruptcy and insolvency?

What is the difference between bankruptcy and insolvency?

Frequently the terms bankruptcy and insolvency are used interchangeably.  However, they actually mean different things legally.  Insolvency is financial distress.  Bankruptcy is a legal process where someone applies for relief from debt.  So, it is possible that you...
Is it possible to file bankruptcy for debts not due?

Is it possible to file bankruptcy for debts not due?

It seems unbelievable that someone can have debt and not know about it.  After all, you used your credit card or signed a contract.  It is possible that you incurred the debt sometime ago or thought the issue was resolved but suddenly you receive a notice that you...
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