CAIRP

Canadian Association of Insolvency and Restructuring Professionals

Industry Views & NewsBlogs

Helpful articles and insights

Welcome to the official blog of the Canadian Association of Insolvency and Restructuring Professionals! We hope you will enjoy insightful and informative posts by our team of expert bloggers on a wide range of topics, including individual, small business and corporate insolvencies, budgeting, financial planning, credit rebuilding and other money management tips for anyone looking to live a debt free life.

Tax Debts in Bankruptcy

Daniel Budd, CIRP, LIT July 7, 2021 For one reason or another, most people who come to see me for advice seem to believe that tax debt will not be included in a bankruptcy. When I ask them why they have this preconception, most people simply say, that is what I was told.

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Money Management: Financial Literacy Lessons for Kids at Every Age

Olivia Harper, CQP Articling Associate March 26, 2021 Teaching children about money can seem like a daunting task, especially if it’s not a skillset you have necessarily perfected yourself! But breaking down the core concepts of money and finances into

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Take Care of Yourself, Take Care of Your Money

Brandon Smith, LIT, CIRP March 24, 2021 Financial wellness can be part of an overall health wellness program. The Financial Consumer Agency of Canada stated that “mental, physical and financial wellness are three pillars of good health”

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Give Your Finances Some Love This Valentine's Day

Chelsea Taylor, LIT, CIRP February 12, 2021 With Valentine’s day rapidly approaching, here are some budget friendly suggestions to keep this occasion all about the love. These tips could easily be applied to other occasions such as anniversaries and birthdays, especially during these Pandemic times.

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How to get your debt under control

Shelley Koehli, LIT, CIRP January 29, 2021 It’s a new year with new beginnings. When polled by CIBC, tackling debt remained the top financial priority for most Canadians. Debt-to-income ratio is a measure of how much debt a household has relative to its income.

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Rate your Impulse Spending Habits; 10 Tips to Stop Impulse Spending

Mary Ann Marriott, LIT, CIRP December 17, 2020 On a scale of 1 to 5, with 1 being “not at all” and 5 being “always”, how often do you impulse spend? This is one of the questions I use when doing the mandatory counselling sessions under the BIA.

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The Seven Enemies of Financial Success

Mary Ann Marriott, LIT, CIRP November 30, 2020 Most blog posts and advice columns talk a lot about what it takes to be successful financially and share tips on improving your finances, such as setting up and following a budget, spending wisely and saving strategically.

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The importance of considering all costs when budgeting for a vehicle

Brandon Smith, LIT, CIRP November 19, 2020 As a Licensed Insolvency Trustee (LIT), one of they many duties we are charged with is reviewing an individual’s budget.

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How insurance may reduce risk of income loss

Debora Kwasnicky, CPA, CA, LIT, CIRP October 8, 2020 Many financial advisers and counsellors recommend saving a few months expenses to cover contingencies such as job loss.  Insurance coverage for income loss may be an alternative for long term external factors beyond our control such as the current COVID-19 pandemic.

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CERB Tax Implications

Chelsea Taylor, CIRP, LIT August 18, 2020 If you’re one of the many Canadians who collected Canada Emergency Response Benefit (CERB) payments in 2020, it’s not too early to start thinking about tax time.

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Why an LIT?

Brandon Smith, CIRP, LIT May 27, 2020 When I set out to write this article, I was expecting it to be published at a time that many Canadians were receiving their income tax notices of assessment. That normally comes with some anxiety as income...

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Business Success is Attainable through this 1-Step Strategy Makeover

Mary Ann Marriott, CIRP, LIT May 12, 2020 I was recently interviewed for a live online broadcast by Nancy Sievert, QB Training Experts Ltd. Nancy helps train entrepreneurs on using online bookkeeping programs, such as Quickbooks, to keep proper...

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