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The Role of a Power of Attorney in Canadian Debt

Friday, December 02, 2016
A power of attorney is a person that an individual appoints through a written document in the event that he or she becomes incapable of making financial or health decisions. The assigned person does not have to work within the legal profession and, usually, tends to be a family member or close friend. However, both the individual who selects their power of attorney and the individual appointed ..
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Long term disability & Debt Consolidation

Tuesday, November 22, 2016
There are two different kinds of long term disability, known as Insured Benefit and Uninsured Benefit. With the former, an employer pays a premium to its insurance company to cover legal costs for its employees. Thereby, it takes on any financial risk involved. With the latter, an employer pays all benefits to its employees and a third-party administrator helps manage the plan by examinin ..
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Debt Regulations in British Columbia

Friday, November 04, 2016
With a steady rise of debt nationwide, Canada may be searching for the most effective solution to curb over-spending before the country ends up in another financial crisis. Essentially, it may seem simple for the Bank of Canada to raise interest rates to deter people from getting loans. But the reality is that, given how low the current interest rate numbers are, any sudden and significan ..
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How long does the bankruptcy process last?

Friday, October 21, 2016
Like the circumstances of the people who are filing for personal bankruptcy (/debt-help/bankruptcy), the process involved in discharging your debts is unique in each case. The first step is discussing the best course of your action for yourself and your troubled finances with a licensed insolvency trustee. If you have already received debt help or credit counseling and decided to file for pers ..
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What Happens in a Business Bankruptcy Consultation?  

Thursday, May 26, 2016
In recent months many news outlets have been reporting on the bankruptcy of major Canadian retailer Danier Leather Inc. (“Danier”) (https://www.thestar.com/business/2016/02/04/danier-leather-files-for-bankruptcy-protection.html). Like many Canadian businesses Danier faced high real estate costs and periods of prolonged low growth in the Canadian economy. Despite efforts to turn things around,  ..
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Consumer Proposals With Canada Revenue Agency

Friday, May 13, 2016
Back taxes are one of the most difficult debts to absolve because they are owed to the government and required by all income-producing residents. Making a consumer proposal can be a good option when you have tax debt as you could potentially pay less than what you owe. Canada Revenue Agency (CRA) will not approve a proposal as easily as other creditors however. CRA may not consider the same te ..
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Bankruptcy and Personal Loans

Thursday, April 28, 2016
The decision to file for personal bankruptcy in British Columbia is difficult and can involve many variables. Deciding how you want to proceed can be made easier once you know what happens to the debts you incurred beforehand and if and how you will be able to get a loan in the future after being discharged from bankruptcy. How Does Bankruptcy Affect Existing Personal Loans? Many debtors a ..
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What Happens to Student Loans in Bankruptcy?

Tuesday, March 22, 2016
Post-secondary education for most of us was the time in your life where you were studying, trying for good grades, planning for a future job and having fun while learning to be an adult. But now, years later, you are staring at a mountain of bills, and these include your student loans. When you have mounting debt and financial difficulty staying afloat, it may be time to find out about how a b ..
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Where Can I Get Information About Bankruptcy?

Tuesday, March 08, 2016
Out of control debt often starts as a missed payment on your credit card or a small loan and somehow it snowballs and becomes overwhelming. Creditors keep calling, your credit cards are maxed out and you bank account is in overdraft. The first step in taking control of your financial predicament is to know your options. And part of that is getting information about bankruptcy (/debt-help/bankr ..
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How to Know if Business Bankruptcy is Right for You

Tuesday, February 23, 2016
According to key small business statistics in Canada, only half of new businesses survive their first year (http://www.ic.gc.ca/eic/site/061.nsf/eng/02808.html) and three quarters of the businesses that survive the first year continue to exist for a second year. These statistics are daunting and yet still new businesses continually start up and face the challenge. If you have started a busines ..
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