Tag Archives: get out of debt

Being good with money isn’t just about making lots and lots of it. It’s about learning what to do when you get your sticky paws on it. There are heaps of people making big money who don’t have two red cents to rub together. Driven by emotion or determined to… Read more

Robert (not his real name) works in a shoe store. Or if you ask him, he’ll proudly say that he’s now the Assistant Manager at a London fine footwear retailer. It’s not a bad job for a 26-year-old single guy, and his increased responsibilities let him focus on operational details… Read more

Andre (not his real name) is a 34-year old native of St. Catharines Ontario. He earns a modest salary as a service representative in the call centre for a local company. Andrea lives in an inexpensive apartment in the west end and owns an old Toyota Camry, which he uses… Read more

“Do not save what is left after spending. Spend what is left after saving.” – Warren Buffet Whenever I sit down with people who are wrestling with debt, the question inevitably comes up: should I be saving or paying down debt? It’s a question that has been debated back and… Read more

It stands to reason that if we want to be better at managing our money, we need to know where our money is actually going. That sounds obvious but like so many other things in personal finance what sounds obvious often isn’t.  Lots of people arrive to the end of… Read more

The most commonly asked question of our trustees is what does is the bankruptcy cost for filing bankruptcy in Canada? The simple answer is that there are three parts to the overall bankruptcy cost that you should consider, and discuss with your trustee, before filing: Minimum contribution to cover administration… Read more

The average Canadian is quite capable of managing their debt, especially when that debt carries a low interest rate. For those who are in severe amounts of debt though, debt management becomes a case of crisis management. Unfortunately, the inevitable stress doesn’t always lead to the best financial decisions, often… Read more

It can be hard to know which professional to turn to when you realize you need help dealing with your debts. Both a credit counsellor and a licensed insolvency trustee can help you – but how do you choose between the two? The answer depends on your debts, finances, future… Read more

A consumer proposal is a legal arrangement you make with your creditors to repay a portion of what you owe under the Bankruptcy and Insolvency Act. Filed by a licensed insolvency trustee, sometimes called a consumer proposal administrator, it consolidates all your unsecured debts into one affordable monthly payment. Debt… Read more

“Have you ever wondered if your sole purpose in life is to serve as a warning to others?!” – Unknown Sometimes I think that there is more to be learned from other people’s mistakes than their successes, and so, for this post, I thought I would share my own journey… Read more