Credit Counselling

Debt Crisis: Are you Overwhelmed?

Debt Crisis: Are you Overwhelmed? The average Canadian owes more than $1.60 for every $1.00 of after-tax take home income. No wonder, we are all feeling stressed. A major cause of this is the high cost of living in major cities like Toronto or Vancouver in relation to other parts of Canada. If you are […]

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Surplus Income and Bankruptcy Discharge

Surplus Income and Bankruptcy Discharge When you file for Bankruptcy, you keep a sufficient amount of your income to live a “normal life”. The trouble is that the definition of a “normal life” is based on a cross-Canada average calculated by the Office of Superintendent in Bankruptcy. It starts with your net (after tax) take-home […]

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Student Loans and Credit Cards

Student Loans and Credit Cards You have graduated from University and have been unable to find a good paying job in your area of expertise. The periods of non-repayment and interest relief of your student loan debt have been maxed out. You are starting to get letters and/or phone calls from a collection agency. A […]

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Will I lose my RESP if I file a Consumer Proposal?

Will I lose my RESP if I file a Consumer Proposal? No, you will not lose an RESP in a Consumer Proposal. In a Consumer Proposal, you are making an offer to your creditors to settle your debt to them based on the terms of your offer. The terms of your offer is usually that you […]

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