Category Archives: Blog

Bankruptcy in Ontario: It’s More than Just about Money, It’s about Honesty Too

The foundation and anchor of your Ontario bankruptcy case is primarily built on your honesty. At nearly every step of the proceedings, you’ll be required to sign certain statements or documents under oath. You’ll even need to sign your bankruptcy statement of affairs saying that the information it contains is true and accurate. As you […]

No Denial of Services Even When Filing Bankruptcy in Ontario

Can government deny services to an indebted person after his proper filing for bankruptcy in Ontario? An Ontario judge says “no.” This was the focus of an Ontario Superior Court hearing in April between the Ministry of Finance and the Superintendent of Insurance for Ontario with defendant Sandra Clarke. While the Ontario government has the […]

Defensive Bankruptcy in Ontario: On Easing Debt

According to the Office of the Superintendent of Bankruptcy in Canada, a total of 23,236 consumers in Ontario filed for bankruptcy in 2012. To put things in perspective, this means that almost a third of the nation’s 71,495 bankruptcy cases filed by consumers last year were from Canada’s most populous province. Unresolved debt problems can […]

Weighing Your Options: Ontario Debt Consolidation vs. Debt Settlement

Debt is a huge problem for a number of Canadians. Equally damaging is choosing the wrong method to manage debt you can’t pay on your own. While both debt consolidation and debt settlement offer a way to reduce or settle these obligations, each option may affect your credit score and future financial opportunities. Debt consolidation […]

Why a Consumer Proposal in Ontario is a Better Bet vs. Bankruptcy

In Ontario, Canada, declaring bankruptcy is only encouraged until all settlement solutions have been exhausted. A consumer proposal in Ontario is shaping up to be one of the wiser pre-bankruptcy alternatives, primarily because of the following reasons. Debtors can negotiate Under Canada’s Bankruptcy and Insolvency Act, people who owe a substantial amount of money can […]

Debt Consolidation in Ontario: Paying Off Debts under One Account and Alternatives

It’s difficult to find a person who can say that he or she has never accrued any form of debt in their life. Debts can be accumulated in many ways – swiping a credit card, taking out a mortgage, or even financing the payments on a new car are just a few of the prominent […]

Filing for Bankruptcy in Ontario: Discharging Student Loan Debts

Ontario is home to a number of institutions of higher learning, like the University of Toronto. While knowledge is power, and studying in a university is one way of acquiring it, not everyone has the resources to pay the necessary tuition fees. Education may be a right, but with the rising cost of tuition fees, […]

Things to Keep in Mind Before Declaring Bankruptcy in Ontario

It’s easy to understand why anyone would want to set up a business or live in Ontario, North America’s seventh biggest economy. This province possesses much of what makes Canada beautiful, like the Niagara and Kakabeka Falls, not to mention the rich cultural diversity. Just like anywhere else, however, businesses and individuals may run into […]

Debt Consolidation in Ontario: Alternatives to Personal Bankruptcy

Although credit problems receive more publicity in the U.S. than in Canada, it is not unheard of for some Canadians to get into financial trouble due to unpaid loans, whether they be lines of credit or large credit card balances with financial institutions. A recent survey from a reputable bankruptcy trustee shows that one out […]

Debt Assistance in Ontario: Tips on How to Manage Your Finances Well

In our society, many retailers and commercial establishments offer various discounts and sales to attract more customers. Many people are duped into believing that they are actually saving more money if they buy items on sale. While those who know how to spot a good bargain and manage their finances may be able to save […]