Debt Relief Experts
The Pros & Cons of a Pre-Approved Credit Limit Increase
Has your bank sent you a pre-approved credit limit increase and you’re not sure if you should accept it? Find out what the pros and cons of an increase are, and what decision is right for you.
Consumer Proposal and Bankruptcy Blog | Debt Solution FAQs
Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
A Different View of Credit Counselling & Getting Out of Debt
Doug Hoyes reviews the business side of credit counselling, how agencies are funded by big banks and why it may not always be the best solution to get out of debt.
Can a Collection Agency Sue You in Canada?
Are you worried a collection agency will act on their threat and sue you? Doug Hoyes explores how debt collectors obtain files, when they can take you to court and what to do if you have a judgement against you.
How Can I Consolidate My Student Debt?
Lots of young Canadians are struggling with repaying their student loans for a variety of reasons. But does consolidating government student debt make sense and what other options do you have?
How to Get Debt Forgiveness in Canada
Are you unable to make full payments towards your bills, and creating more debt each month? Find out if you could be eligible for Canadian debt forgiveness and what steps you need to take to move forward.
How Much Debt Does it Take to File Bankruptcy in Canada?
In Canada, you must have a minimum amount of unsecured debt to file bankruptcy, but how much debt causes bankruptcy is different for everyone. See from our bankruptcy study how much debt tends to lead to insolvency.
What is a Registered Consumer Proposal?
Navigating the validity of information on insolvency may be overwhelming due to unregulated businesses claiming their services can help. Learn about what a registered consumer proposal is and who can legally provide them.
Troubled Debtors Don’t Have Any Assets Left to Sell
Ted Michalos explores the asset profile of the average insolvency debtor from our annual bankruptcy study and explains why most insolvent debtors have very little assets at the time they file insolvency.
What is the Maximum Amount of Interest I Can Be Charged in Ontario?
Interest depends on the types of loans you borrow. Ted Michalos explains what the criminal interest rate is in Canada, how payday loans are a trap and what to do if you have overwhelming monthly interest.
Instant Cash Back on Tax Refunds. Is it Worth It?
Some businesses that do your taxes offer ‘cash back’ incentives for using their services, but what does this mean for the consumer? We explain how instant tax refunds really work and the associated costs.
Can I File Bankruptcy for Payday Loans in Canada?
Taking on another payday loan to pay back existing payday loans is not the answer. Learn how a bankruptcy or consumer proposal can eliminate payday loan debt and get the help you need to break the cycle.
4 Personal Finance Ratios That Measure Your Debt Risk
Did you know there are several ratios you can use to measure your personal debt risk? Find out how to calculate these ratios and what you can do to apply the knowledge to your financial decisions.
Can You Go to Jail for Not Paying Your Debts?
A common, but false, tactic debt collectors use to scare is the threat of jail for unpaid debts. Unless you have committed fraud, find out why jail is not a risk if you default on your debt payments.
Are Not-For-Profit Credit Counselling Agencies Now Just Debt Collectors?
Not-for-profit credit counselling agencies still have to get paid, and they earn kickback fees mostly from banks. Learn 5 reasons why these agencies are now just debt collectors and why it matters to you.
20 Warning Signs You Have a Debt Problem & What To Do Next
Debt ads up over time. Spot the warning signs of debt problems so you can stop the slide into insolvency if possible. We explore what you can do if you struggle with debt repayment.
Think Twice Before You Get a Home Equity Line of Credit
Should you consolidate credit card debt with a home equity line of credit? Find out how a home equity line of credit works and if it’s really the right choice for you.
How to Stop a CRA Wage Garnishment
The CRA has strong collection powers, one of which is the ability to garnish your wages. Learn everything you need to know about a CRA wage garnishment and what you can do to avoid this proceeding.
Should I Sell My Assets to Pay Off Debt?
Will selling your assets be the solution to your debt problems? What assets should you never liquidate to pay off debt? Doug Hoyes and Ted Michalos explain how to pay off debt and keep key assets.
Will I Lose My Inheritance in a Bankruptcy?
Learn what happens to “cash windfalls” like an inheritance or lottery win when you file bankruptcy and how you can keep these funds in a consumer proposal.
Getting Out Of Debt Requires A System, Not Just A Goal
Do you have a financial goal and are struggling to stick with it? We explain differences between setting goals vs systems, and the benefits of using a system approach to get yourself out of debt.
Should You Use Your Bonus To Pay Off Debt?
Do you have unpaid debts piling up and have recently received some unexpected income? Find out 9 ways to spend this money efficiently and how to avoid common mistakes we see when people get a bonus.