Debt Relief Experts
Options to Pay Off Your Consumer Proposal Early
Do you know the advantages of making extra payments to pay off your consumer proposal sooner? We’ll explain why some of our clients choose to do this, and how to implement this beneficial strategy.
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.
Examination of Bankrupt – What You Need to Know
Have you heard of an examination of bankrupt? If you are thinking of filing for bankruptcy you may be subjected to this legal proceeding. Find out everything you need to know and why there is usually nothing to be concerned about.
Risks of Debt Consolidation Loans – The Hidden Traps
Debt consolidation loans can help you consolidate debt but before you approach a lender review the possible costs and risks of using this option for debt relief.
Will I Lose My Insurance Agent License if I File Bankruptcy in Ontario?
What are the repercussions of filing insolvency as an insurance agent? Find out what is required of you if you file, if your license will be revoked and if you can become an insurance agent after.
What Happens at the Meeting of Creditors During My Proposal?
Are you stressed about having to meet with your creditors if you file for a consumer proposal? We explain when and what can happen if a meeting of creditors is called and how voting works if a meeting is required.
Can Bankruptcy Stop a Tenant Eviction for Rent Arrears?
Will bankruptcy deal with past due rent? Ted Michalos explains more about rent arrears in an insolvency and whether you can effectively stop an eviction by filing a bankruptcy or proposal in Canada.
How Is Cosigned Debt Treated in a Consumer Proposal?
A consumer proposal eliminates your obligation to pay back unsecured debt. But what happens to your cosigner? Learn how cosigned debt is treated in a consumer proposal or bankruptcy.
Will There Be A Bankruptcy Creditors’ Meeting and What to Expect
A creditor’s meeting in a bankruptcy is rare, but it is still important to know what they entail if it happens to you. This blog offers an easy-to-understand explanation of typical creditor’s meetings.
Consumer Proposal Vs. Division I Proposal to Creditors
Did you know there are two types of proposals in Canada? Learn more about what a consumer proposal and a Division I proposal means for you and your creditors, and which may be the best choice for you.
Can I Still Be a Mortgage Broker or a Mortgage Agent if I File for Bankruptcy in Ontario?
Mortgage brokers or agents filing for insolvency may be able to keep their job titles. Find out reasons why a license would be revoked in a bankruptcy and how a consumer proposal can affect you license.
How Voting on a Consumer Proposal Works
How your creditors vote is one of the most common concerns clients have in a consumer proposal. We explain, in simple terms, how voting works in a proposal and when a consumer proposal is approved.
How Does a Debt Consolidation Loan Work?
Getting a debt consolidation loan to pay off debt seems like a simple solution, but it may not be. In this detailed guide, we explain everything you need to know before applying for a consolidation loan.
Can Business Debts Be Discharged in Personal Bankruptcy in Canada?
Doug Hoyes explains the difference between a business and personal bankruptcy and what business debts are eliminated by filing personal bankruptcy and which remain.
What Happens to Joint Property in a Bankruptcy?
Do you own a joint asset with an individual who is declaring bankruptcy? Find out the impact that bankruptcy has on jointly owned homes, vehicles, and bank accounts, and what you can do.
Can I Be A Director, Executor or Be Bonded If I File A Consumer Proposal?
If you are in a position of trust or dealing with money, find out how filing a bankruptcy or consumer proposal can affect a formal appointment as director, executor or your ability to be bonded.
When is a Consumer Proposal Legally Binding on your Creditors?
Are you considering filing for a consumer proposal and are curious about what makes the contract legal? We’ll show you what makes a proposal legally binding and what say your creditors have in the process.
10 Myths About Consumer Proposals & What You Really Need to Know
Consumer proposals are often the most misunderstood debt relief option, even thought they are fairly simple. Read along as Doug Hoyes debunks the 10 most common misconceptions about consumer proposals.
How to Avoid Bankruptcy and Still Get Out of Debt
It's possible to stave off bankruptcy or choose better debt relief alternatives. Doug Hoyes explains how you can deal with debt on your own, and what other alternatives you have if you have too much debt.
What is a CRA Requirement to Pay and How Can You Stop It?
Has the Canada Revenue Agency issued a legal notice to you called a Requirement to Pay? Find out what to do if this happens to you and what you need to know as the taxpayer.
The True Cost of Credit Counselling
Are you considering credit counselling to help you manage large amounts of unpaid debt? Doug Hoyes explains affordability, alternatives and additional consequences of this type of program.
Loan Scams: Advance Fee Loans are Illegal in Canada
Companies can be very creative with scamming individuals looking for loan, especially those with poor credit. Learn about advance fee loans and how to identify, avoid, and report loan scams.