Category Archives: Debt Help Stories

Aaron’s debt story is pretty typical. He was young and single, starting life after graduation. He was lucky enough to graduate without student loans and was now on his own for the first time. Just beginning in a new career, Aaron expected he would be able to work hard, prove… Read more

Steve, a teacher, had known for some time that he was in serious financial difficulty.  All of the usual warning signs were there – sleepless nights, collection calls, paying interest only on his credit cards. He tried consolidating his debts into one loan, but the monthly payments were still staggering. … Read more

As a single mother, with more debt than she could handle, Debbie looked for help from an expert.

Guest commentary provided by Janette Martin, Client Service Specialist, North York, Ontario I recently met with Adele (not her real name), in my North York bankruptcy and consumer proposal office.  Recently separated from her husband, who was the sole provider for her and their two teenage kids, and due to… Read more

This week we have discussed the advantages of a consumer proposal.  Today we present a real life example, courtesy of Scott Schaefer, CA, Bankruptcy Trustee and Consumer Proposal Administrator in Kitchener, Ontario.  You can read the full story in his article on What is a Consumer Proposal? for more information…. Read more

Question: I have the following debt: TD GM VISA $25000 CIBC VISA $15000 MBNA Master-card $6000 MBNA LOC $21500 ———————- Car loan $4000 (with my ex): (this car is under his name) Car Loan $13500 (jointly with my spouse ——————————— House recently purchased purchased price $296000 Mortgage $288000 its a… Read more

Question: I’m about $30,000 in debt with an R9 credit rating. I was OK until last year, but things have gone downhill recently.  I also have a Canada student loan from 10 years ago. I want to take control of this and get back on track as soon as possible. Currently… Read more

Question: Hello, thank you for taking time to read my question. My spouse and I currently have $73,000 in unsecured credit card debt. We have a 2 yr old son. We take home approximately $4500/month net pay. Once living expense are paid, I would estimate that we have about $1500/month left… Read more

Question: I am thinking of filing either a consumer proposal or personal bankruptcy. I owe $45,000 in credit card debt and own my home. My house is worth approximately $275,000 with a first and second mortgage totalling $265,000. Can I file bankruptcy or a proposal and only include my credit… Read more