Should I file for Bankruptcy or a Consumer Proposal?
In my role as Licensed Insolvency Trustee, I get asked this question all the time! There is no “one size fits all answer”. The answer is, like most things in our industry, “It depends”....
Category: The “B” Word – Bankruptcy
Do I have to be delinquent on my accounts to file for Bankruptcy?
There is a misconception that you have to be behind on your bills in order to file for bankruptcy. You do not. One might ask, “Why would a person declare bankruptcy if they are...
Where do I turn when my finances fall apart?
Asking for personal help has to be one of the most difficult things to do. Whether it’s for relationship advice, parenting advice or financial advice, nobody wants to admit they can’t go it alone....
Is Filing for Bankruptcy Easier Today?
This was a question that I was asked recently. I thought it was interesting and it caused me to reflect on my experience in the Insolvency industry. The gentleman I was meeting with wanted...
Who is the honest but unfortunate debtor?
Recently I was led to pondering one of the main objectives of the Bankruptcy and Insolvency Act. And that is providing a fresh start to the honest, but unfortunate, debtor. I found myself asking (myself), “Who is the honest, but unfortunate debtor?”
Just say NO!
I know we live in a world of credit, but sometimes I feel like I am on a seedy corner, with a drug pusher who is saying all of the right things to get me to make the “purchase”. I resist because I see the perils everyday, because I know how much credit I now have and how much I am unwilling to let myself be lured into that false sense of security that comes with credit.
Bankruptcy and Matrimonial Law – they combine like oil and water
Forget until death do us part, let’s talk about until debt do us part! – what happens when a couple separate and one person wants to keep the house? Who is responsible for the payments, and are they involved in the bankruptcy in anyway?
Bankruptcy Pep Talk
So often, people come to me, embarrassed and ashamed that they are facing bankruptcy, or a similar compromise of debt. They feel that they have failed. They are hard on themselves in a way that is not productive. I created this pep talk in an effort to help them through this cross road in their life. Feel free to share this with anyone who you feel would benefit from it.
One event away from Bankruptcy!
We are all one or two events away from bankruptcy – meaning all it takes is one or two major events to turn our financial world upside down. The reason is simple. We live too close to, or above, our means. As a result our credit is maxed out, our savings minimal, or worse, non-existent, and we have absolutely no breathing room.
