Did you know there is a surplus income penalty in a bankruptcy if you make more than the ‘threshold’ income? Doug Hoyes explains how to calculate this and ways you can avoid a penalty all together.
Are you delaying bankruptcy because you’re scared of what it entails or what it may change in your life? Find out what can happen if you continue to delay the process and why you don’t need to be afraid.
Learn how to structure your consumer proposal with flexible payment options. Understand key factors affecting terms and how a Licensed Insolvency Trustee can help.
The government sets a limit on how much income you can keep before you have to make extra bankruptcy payments. This limit is updated each year. Learn more about this threshold.
A consumer proposal is an affordable way to eliminate overwhelming debt. While there is a fee to file, these fees are included as part of the proposal process. Doug Hoyes explains the costs of a consumer proposal and how payments are calculated to fit your budget.
You may be overwhelmed by debt and considering a debt settlement. In this post, we walk you through how to determine an affordable offer, the dos and don'ts of settling with your creditors, how to reduce debt by up to 80% and when working with an LIT is the right option.
Your income tax refund is treated as an asset in a bankruptcy. Learn more about what exactly happens to your refund under a consumer proposal vs. bankruptcy. We also explain how CERB tax debts are dealt with in a filing.
Should you pay for third party advice when seeking a consumer proposal? We explain what a consumer proposal administrator is and why you should work directly with a Licensed Insolvency Trustee for debt help.
If you're going to file for a consumer proposal, we make sure your proposal payments fit your budget. In this blog, find out how to determine if you can afford payments.
Do you want to learn more about the negotiation process involved in a consumer proposal? We'll explain what creditors might expect in a proposal based on internal policy and who does the negotiating.
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 explain the three factors that affect how much you may have to pay to file bankruptcy in Ontario: income, assets and if you have filed before.
To be discharged from a bankruptcy there are certain duties that need to be completed first, one of which may include surplus income payments. Find out what surplus income is and 5 reasons it’s important.
Consumer proposals are a very flexible tool when it comes to debt settlement. If you receive a lump sum before or during a proposal, find out how this can impact your proposal terms.
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