Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our blog includes podcasts, videos, articles, case studies and Industry Insights about consumer proposals and bankruptcy in Ontario as well as personal finance, credit rebuilding and other money management tips for anyone looking to get out of, or stay out of, debt.
Insolvency offers people a fresh financial start, however it does come with some consequences. In this blog we’ll show you how to deal with these consequences, from the emotional toll to loss of assets.
Credit reporting companies work for the benefit of lenders, not for the consumer. But what if we could change that narrative? Our experts discuss the potential use of Blockchain technology for credit scoring.
Almost 1 in 4 Canadians carry debt into retirement due to increased cost of living. In this blog, Doug Hoyes explains how you can prepare early for retirement and avoid becoming another debt statistic.
By law a consumer proposal can be no longer than five years. However, you can propose any term for your proposal payments. Ted Hoyes explains more, and how you can pay your proposal before the end of the full term.
If you co-sign a loan you are responsible for it if the primary borrower cannot make payments. Explore creditors rights to collect, how bankruptcy eliminates the debt and what to do if you’re the co-signer.
When you file for a consumer proposal, you offer your creditors an amount for your proposal payments. In this blog, find out what factors affect this and 3 steps you can use to calculate your payment terms.
We highly recommend opening an account at a different bank during insolvency. Our experts divulge reasons why you should switch banks, common concerns when it comes to this and what happens if you don’t.
Two credit counselling sessions are mandatory if you decide to file for insolvency. Doug Hoyes explains why they are a required duty of you and what you will learn in these sessions.
Have you ever run low on cash before your next payday? What solution did you use? If your answer is a payday loan, find out why they aren’t the best choice and 8 alternatives you could use instead.
To complete insolvency duties, you must attend 2 credit counselling classes. Ted Michalos explores his thoughts on what these credit counselling sessions should entail for consumers to truly benefit.
What is the difference between bankruptcy trustees, debt counsellors, consultants and coaches? Which one should you use? Find out more about each of their roles, who you can trust, and how to spot a scammer.
People struggling with debt often turn to debt consolidation first, which is not the best choice for everyone. Find out common reasons why debt consolidation usually fails and what your alternative options are.
Do you think you have a good credit rating despite struggling with debt? Find out why having a clean credit report does not mean you have good one and how the credit reporting system works for lenders.
Filing for insolvency is an emotionally taxing process, so often times people opt for the ‘do nothing’ mindset first. Doug Hoyes explores 6 common consequences of how this strategy makes debt worse.
How do you know when you can pay down your debt or need to file insolvency? We’ll explore a debtor’s situation and provide our professional insight on what might be the best option for you.
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