How to Repair a Bad Credit History? More often than not, bad credit is an issue many Canadians face at least once in their lifetime and are left in the dark when it comes to solving this issue. One may obtain bad credit due to inconsistent payments that result in ongoing debt, and it can […]
Category Archives: Bankruptcy
It might be tempting not to file your taxes if you are afraid that you can’t afford to pay what you owe. However, the Canada Revenue Agency (CRA) has systems to check if you have unpaid or unfiled taxes. For example, the CRA has a system in place that enables them to receive a copy […]
Debt can affect many people throughout their lives and can be quite a stressful experience. Many need to learn how to pay their creditors while facing high pressure and demand to complete their payments. Debt can also affect seniors. This group’s primary source of income comes from their retirement savings plan and social security; therefore, […]
More often than not, people use the terms “bankruptcy” and “insolvency” as if both terms had the same meaning; however, that is not accurate. When people cannot make their payments on time, they end up accumulating debt and resorting to debt-relief proceedings that will alleviate their financial situation – and bankruptcy is one way of […]
Many Canadians are faced with unpaid debt that ends up accumulating over time. Upon seeing themselves in this situation, they should contact a licensed insolvency trustee to present them with alternatives suitable for their problems. This article will review the risks of such debt relief options people could face in Ontario. What is Debt Relief? […]
What you need to know about LITs A Licensed Insolvency Trustee (LIT) is a professional who helps people who are having trouble paying their debts. LITs offer practical advice on different ways to solve debt problems, like budgeting and debt consolidation. An LIT is the only professional who can administer government-regulated debt forgiveness programs, called […]
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