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Should I open a new bank account before filling for bankruptcy in Ajax?
Before you file for Bankruptcy or a Consumer Proposal when you owe money to your bank, it is advised you should open a new bank account. Money owed to a bank can come from many sources, including unsecured debts such as credit cards, loans, or an overdraft account. It...
Can a consumer proposal affect my partner?
If you and your spouse constantly struggle to manage your debt, consider discussing debt management options available to you with a Licensed Insolvency Trustee (LIT). In this article, we highlight the Consumer Proposal, one of the debt management options, and the...
Can you file twice for a consumer proposal in Waterloo?
You may have previously cleared debt by filing a consumer proposal in Waterloo and have again found yourself in another debt that requires you to file another consumer proposal to pay it off. When you find yourself needing another consumer proposal to pay off debt...
What to expect when filing for Insolvency in Ontario in your 40s?
In your 40s, you should build assets to help you transition into retirement. It can therefore be very frustrating when you find yourself with many debts to repay at this stage, unlike if you were in your 20s. And it is unlikely that you would be able to build wealth...
Is your credit score stopping you from renting a property? : Tips for Tenants
Importance of Credit Scores Credit scores are becoming more and more critical in today's society. Suppose you have no credit or credit card debt. That is how credit scores you usually get low credit scores. The lower your credit score, between 300 and 579, the harder...
Home Equity Loans VS Consumer Proposals
Introduction You might be hoping for a way to consolidate your debt if you are struggling with credit card debt or paying multiple loans every month. A home equity loan might be the best option for you. Although there are various uses to home equity loans, homeowners...
Are you a home owner or a tenant ? Dealing with debts during COVID-19 pandemic
Introduction The COVID-19 pandemic has created turmoil in people's lives for a long time. The real estate industry is no exception. Owning or renting a home can be an expensive undertaking during this pandemic. Other than the initial down payment, when you own a...
Consumer Proposals vs Personal Bankruptcy: Which is better?
Introduction Most citizens file for personal bankruptcy or consumer proposals in Canada, making them the best insolvency options for a person facing financial troubles. Consumer Proposals and Personal Bankruptcies are under the Bankruptcy and Insolvency Act. Each of...
Are you worried about your Credit Card Debt? Stay debt-free with these eight simple rules
Many customers struggle with credit card debt. Although getting yourself out of credit card debt can be challenging, it is possible. It just takes focus, proper guidance, determination, and a plan that works with your financial situation. Here are some simple rules to...
Are you dealing with Debt problems? Solutions are here.
Debt Problems: Introduction Debt problems are not always sudden. Even so, it's a fact that financial difficulties can arise suddenly and unexpectedly, like the loss of a job or a vehicle breakdown. Debt problems can be of all sizes, from being a few hundred dollars...
Mortgage deferments are almost up: A financial wake-up call.
COVID-19 struck at the beginning of 2020, devastating millions of Canadians and reducing their income significantly. Renters struggled to pay their rent, while homeowners were worried about meeting their mortgage payments. The Canadian government made efforts to...
A list of alternatives to CERB repayment if you cannot pay it back
A list of alternatives to CERB repayment if you cannot pay it back What is CERB? COVID-19 has caused a great deal of economic stress all over the world. Amid this pandemic, a financial support program called CERB - Canada Emergency Response Benefit was introduced in...
What you should not do to pay your Consumer Proposal faster
You may be wondering what you can do to pay off your consumer proposal faster. You don't want to make any mistakes that will cost you more money or cause your debt to grow even more significant than it already is. The following blog post will discuss the things not to...
The benefits and disadvantages of paying a consumer proposal faster
A consumer proposal is a legal document that allows individuals to repay their debts over time while avoiding bankruptcy. If you consider paying off your debt with a consumer proposal, there are benefits and disadvantages to consider before taking this step. To make...
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...
Things you should know about bankruptcy and involvency
Sometimes it is extremely difficult to discuss and come to terms with financial situations, especially if you are in significant debt. However, in Waterloo, there are some very good insolvency consultation firms. They can help you face the reality of your particular...
Pros and Cons of Kitchener Debt Consolidation
One way to repay back debts is to use a debt consolidation loan. This is when you apply for a new loan and use the proceeds to pay off all the other debt you have accumulated. Then you only have a single monthly payment to make, and hopefully, this new Kitchener debt...
What are the benefits and disadvantages of filing for bankruptcy?
Bankruptcies can affect a person's credit and personal finances for several years, but it is a very good option for relief from debt for some individuals. Each client's circumstances are unique, and an insolvency trustee is someone to consult. Bankruptcy filings are...
How to Get Out of Debt while avoiding Bankruptcy
Financial issues are one of the most difficult things for adults to deal with. It can result in sleepless nights, relationships issues, and constant worry. Perhaps you have considered bankruptcy as an option, which is very viable.If you have not already tried it,...
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...
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