Debt Solutions for Individuals
LIT Facts vs. Myths
January 23, 2025As a Licensed Insolvency Trustee (LIT), a significant part of my initial consultation time with consumer debtors involves dispelling a number of myths, so I thought it might be a good idea to set the record...
Learn MoreDebt Relief Options: Choosing the Right Solution for Your Situation
November 27, 2024When financial struggles begin to impact daily life, it’s natural to look for ways to regain control and start fresh. Debt relief solutions in Canada offer multiple ways to address various financial...
Learn MoreThe Role of a Licensed Insolvency Trustee in Canada: A Guide to Financial Recovery
November 14, 2024Navigating financial difficulties can be overwhelming, especially when faced with complex debt relief options. Fortunately, in Canada, a Licensed Insolvency Trustee (LIT) serves as a federally regulated...
Learn MoreNavigating Insolvency as a Self-Employed Individual: Key Considerations
November 14, 2024For self-employed individuals, managing finances can come with unique challenges. Running a business often means dealing with fluctuating income, difficulty accessing traditional credit, and the need to...
Learn MoreHow to Choose the Right Licensed Insolvency Trustee for Your Needs
November 14, 2024When financial challenges arise, navigating debt relief options can be a complex and emotional journey. With nearly 1400 members, the Canadian Association of Insolvency and Restructuring Professionals...
Learn MoreConsumer Proposals: A Bankruptcy Alternative for Individuals
November 14, 2024Debt can quickly become overwhelming, especially when high interest rates and multiple bills make repayment seem impossible. While bankruptcy is often viewed as the primary debt relief option, there is...
Learn MoreCommon Misconceptions About Insolvency and Debt Relief
November 14, 2024Insolvency and debt relief are essential resources for Canadians facing overwhelming financial challenges, yet myths and misconceptions about these topics often prevent individuals from seeking the help...
Learn MoreLes Fins de Mois Arrivent Vite
November 27, 2023Nous avons tous entendu l’adage selon lequel les fins de mois arrivent vite. Qu’est-ce que cela signifie? En fait, cela veut dire que votre argent s’épuise avant même votre prochain chèque de...
Learn MoreMore Month Than Money
November 27, 2023We have all heard the saying … more month than money. What does it mean? Essentially that your money is running out before your next paycheque arrives. It can be worse than living paycheque to paycheque...
Learn MoreGood vs. bad debt: Are you borrowing money wisely?
November 20, 2023Bad debt can lead to unescapable interest costs, damaged credit, and failed financial goals. With most Canadians carrying some sort of debt, how can you tell which type of debt is good or bad? The answer...
Learn MoreAssessing Your Progress in Managing and Paying Down Your Debt
November 16, 2023Debt can be a formidable adversary on the road to financial freedom. Whether it's student loans, credit card balances, or a mortgage, most of us have some form of debt in our lives. While it's not necessarily...
Learn MoreCheck up on your Debt!!
November 8, 2023Understanding your debt in today’s economy is more important than it has ever been. With interest rates from near zero to the highest they have been in close to two decades, individuals are becoming...
Learn MoreImpact of Inflation and Recession on Debt Repayment
May 5, 2023Inflation is a sustained increase in the general level of prices for goods and services in an economy over a period of time. It means that the purchasing power of money decreases as the cost of goods and...
Learn MoreProtect yourself from financial scams
March 22, 2023Financial scams can happen to anyone, regardless of their age, income, or level of education. These scams are designed to trick people out of their hard-earned money, often leaving victims in a difficult...
Learn MoreChange Your Financial Habits in the Year of the Rabbit
January 24, 2023Want to feel lucky with your money but do not want to buy lotto tickets? It’s the Year of the Rabbit, the luckiest of all animals in the Chinese culture. If you want 2023 to be a year with luck, you...
Learn MoreFree Yourself from Financial Debts
July 27, 2021If you were to google “Steps to Financial Freedom,” there is no shortage of experts’ suggestions, tips, Top 10 lists, publications and posts, outlining the best way to achieve financial freedom....
Learn MoreHow to get your debt under control
January 29, 2021It’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.
Learn MoreHow insurance may reduce risk of income loss
October 8, 2020Many 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.
Learn MoreWhy an LIT?
May 27, 2020When 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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