Financial planning is a lifelong process. No matter your age or financial status, nearly everyone benefits from reviewing their financial situation and practicing good financial habits to secure their assets and their quality of retirement. Even if you’re retired or planning retirement, you do not want to find yourself in a situation where your savings […]
How Scams Are Targeting You & Your Money
No matter who you are, there is a good chance a scam may have targeted you in the past. Scams can come in various formats, and they’re adapting every day to separate you from your money as much as possible. According to the Canadian Anti-Fraud Centre (CFAC), nearly 13,000 Canadians have lost over $51 million […]
SIX Actionable Ways to Protect Yourself During Tough Economic Times
1. Develop Additional Income Streams Most adults have formal full or part-time employment. Many also have additional passive or alternative incomes as well. This additional income is a boon generally but especially during tough economic times. As long as you have a computer and reliable internet access, there are likely opportunities for you to take […]
Rebuilding Your Credit Using Secured Credit
After bankruptcy or prolonged debt, it can be difficult to know where to start when rebuilding your credit. When filing for bankruptcy, your Trustee can advise you on ways to rebuild your credit and maintain a solvent budget. Bankruptcy or not, overloading your credit cards and not making minimum payments will certainly crash your credit […]
Budgeting Like a Pro: Three Free Tools to Help You Manage Your Budget
Proper budgeting is one of the best ways to help manage your money and handle your debt. A budget can help you track your spending and prepare for emergency expenses or loss of income. While there are many basic ways to budget like using a notebook or spreadsheet, there are also a few digital tools […]
Protected Assets & Bankruptcy: What You Need to Know
What Are Bankruptcy Exemptions? There is an understanding that despite filing for bankruptcy, you will still need certain belongings in order to work, maintain dignity, and rebuild your financial standing. These assets are protected during bankruptcy as bankruptcy exemptions. Bankruptcy exemptions are assets that will not be seized by your Licensed Insolvency Trustee during the […]
What Happens to Your Car Loans During the Bankruptcy Process?
Car loans and other secured debts are handled differently from conventional debts during the bankruptcy process. We’re here to help you understand how unsecured debts will be affected by filing for bankruptcy and whether or not you will be able to keep your vehicle. Bankruptcy Exemptions Every province has different amounts they allow for each […]
Filing Bankruptcy and Owning a Home: What Comes Next?
During the bankruptcy process, some of your assets may be vested with your Licensed Insolvency Trustee (LIT). Your Trustee will deal with those assets as required. In Alberta, some assets are exempt from the bankruptcy process. Your Trustee will advise you of these. One item includes up to $40,000 in equity in your primary residence. […]
How Bankruptcy in Canada Works for Debtors and Creditors
Individuals facing debt issues beyond their capability to repay them need to understand what alternatives are available to them as soon as possible. Assuming getting extra income and paying down debts owed has not worked so far, talking to a federally appointed Trustee about rights and obligations to repay may be a saving grace. Bankruptcy […]
How Debt Becomes a Cycle (& How You Can Get Out of It)
The burden of debt can become crushing. It can be so difficult to relax and enjoy life, even for a moment, when your mind is constantly focused on how much you owe and how much it limits your options. It can sometimes feel like you will never manage to crawl out of the financial pit, […]
