Overcoming Drug Addiction and Debt
Drug addiction and accruing some form of debt is not uncommon. In this blog, we explore a scenario of one of our clients in this hardship and how eliminating debts through bankruptcy was part of his recovery.
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.
Drug addiction and accruing some form of debt is not uncommon. In this blog, we explore a scenario of one of our clients in this hardship and how eliminating debts through bankruptcy was part of his recovery.
A common fear is that trustees work for creditors. We explain why it's best for LITs to ensure you get the best deal and can afford your payments and how we compare to other debt consultants.
What strategy you should you use to pay off debt - small balances or high interest debts? We explore the pros and cons of 2 common repayment approaches and provide tips to help you pay off debt faster.
A bankruptcy score is a scoring system used by lenders to rank the potential of bankruptcy in your future. Doug Hoyes explains exactly what a bankruptcy score is and what it means for your credit.
Unlicensed debt relief companies use specific terminology to draw clients in. We expose the facts behind debt settlement in Canada, debt management plans and why consumer proposals are often better.
Are you going through a divorce and struggling with debt? Our Bankruptcy and Divorce Canada fact sheet explains everything you need to know from dividing debt to what happens if your ex-spouse files insolvency.
Licensed Insolvency Trustees are regulated by the federal government but obtain licenses to work in each province in Canada. Find out how where you live impacts where to find a trustee to work with.
We explain privacy laws and your rights when it comes to collection agents, how you can protect your personal information and what to do if it’s disclosed wrongly.
The Bankruptcy & Insolvency Act states you must surrender all credit cards. Our experts offer advice on how to manage purchases without a credit card during bankruptcy and when you can apply for a new card.
Internet and cellphone services are essential in today’s day and age, but what happens to these services in a bankruptcy? Doug Hoyes offers his expert insights based on our experience with service providers.
Provincial legislation on how home equity is treated in a bankruptcy or proposal differs by province. We explain how much equity is exempt or protected from seizure, and when, under Ontario's Execution Act.
If you are a small business, influencer and someone who makes money from your social profile, find out when or if a personal or business social media profile would be included in a bankruptcy in Ontario.
Have you received a call from a CRA agent demanding your credit card information? Learn our top 10 tips you can use to identify fraudulent calls and what you can do if you are scared.
Are you considering a credit repair or savings loan to improve your credit? In this blog we look at a real example and explore why credit repair programs can be too costly for the benefits they provide.
What are the consequences of having unpaid 407 ETR debts when you aren’t planning on filing for insolvency? Find out the collection methods the 407 can use under the Limitations Act.
Have you received a call from a collection agent, and you’re stumped on how they were able to find you? Learn about various ways collections companies acquire your data and what you can do about it.
A prime reason to file for bankruptcy is to receive protection from creditor actions. We explain how bankruptcy protection works in terms of unsecured and secured creditors.
We strongly suggest opening a new account when you file insolvency, especially if you owe money to the bank where you have a deposit account. We explain how to open a new account and why this is important.
There is a difference between government student loans like OSAP and Canada Student Loans and a line of credit at a bank or credit union when it comes to insolvency. Learn more here.
It is mandatory to file insolvency through a Licensed Insolvency Trustee in Canada. Find out all the information you’ll need to provide for them, as well as the documents required to file bankruptcy.
It is possible for a creditor to oppose a bankruptcy discharge. What does a discharge hearing look like and how does the trustee, creditor and bankrupt prepare for this meeting.