Tag - Consumer Proposal

July 2018

May 2018

Can debts to CRA be included in a bankruptcy?

Can debts owed to the CRA and QRA be included in a bankruptcy?

Tax season can be stressful, especially for those who receive unpleasant surprises and must pay money to Québec Revenu Agency (QRA) and/or the Canada Revenue Agency (CRA). Tax season can present you with some difficult questions: How do you extract yourself from tax debt, which can drag on for years? Bankruptcy or a consumer proposal may be the solution for you. (more…)

April 2018

How to prevent a Hydro-Québec service disconnection

How to prevent Hydro-Québec from disconnecting your power

Having payments past due and seeing your unpaid bills pile up is difficult for any consumer. It goes without saying that the last thing you need is to worry that Hydro‑Québec will disconnect your essential services. But did you know that, depending on your circumstances, you may be able to protect yourself from a service disconnection by Hydro-Québec with a consumer proposal or bankruptcy? (more…)

February 2018

Differences between bankruptcy and consumer proposal

The difference between bankruptcy and consumer proposals

Your debts can cause a lot of stress and may seem insurmountable to you. Don’t let your uncertainties prevent you from considering using a consumer proposal or declaring bankruptcy to resolve your financial difficulties. Although less common among consumers, they are two simple solutions to repay your debts and free you from your obligations towards your creditors. (more…)

October 2017

May 2017

How to deal with collection agencies

Do you know what to do if a collection agency contacts you?

Collection agencies can be intimidating. Incessant calls can become frustrating, stressful, and exhausting. Sometimes, agencies will even use questionable methods to put pressure on debtors. Unfortunately, you may have to deal with them if you have outstanding debts. If this is the case, remember that you should not feel threatened. There are steps you can take to make the process much less painful. This will let you return to your normal activities without fear of reprisals by collection agencies. How collection agencies work If you are receiving calls from collection agencies, it’s because you owe money to one or more creditors. Collection agencies have a mandate to recover what you owe to creditors. In general, collection agencies work on commission. The more money they [...]

Which solution to pick

Choosing the right solution for you: consumer proposals vs. bankruptcy

If you are deep in debt, you are probably looking for a solution to solve your financial troubles. But how do you choose between a consumer proposal and bankruptcy? The role of the Licensed Insolvency Trustee Let’s start by making one thing clear: consumer proposals and bankruptcy are two legitimate solutions to solve debt problems. Choosing between these solutions is a personal decision that falls to the debtor. But to make an informed decision, debtors can rely on Licensed Insolvency Trustees (LIT). The LIT’s job is to assess debtor’s financial situation. They must then fully inform the debtor about each processand their benefits, and the differences between them. The LIT cannot impose the solution of their choice. The debtor must always make [...]

April 2017

Information to provide a LIT

Information to Provide a Licensed Insolvency Trustee during a Meeting

Discussing our financial situation is not easy, especially when we are in debt. Some people are hesitant to meet with a Licensed Insolvency Trustee (LIT) because they worry about having to reveal personal information. If, you are looking for solutions to manage your debt and would like to learn more about what information to disclose, this post includes a complete list of the information to provide to your LIT so they can offer the best solution to your debt. (more…)

October 2016

loan-repay-consumer-proposal

Is it a good idea to take out a bank loan to repay your consumer proposal?

Recovering financial health is often the main concern of people who must repay a consumer debt proposal. This is why some people consider taking out a loan to pay it off more quickly. But is this solution actually advantageous? (more…)

September 2016