Derek L Chase & Associates Ltd.
On occasion when we are talking with people we find out that, before meeting with us, they arranged to cash out all or part of their retirement savings plan (RSP) and use the proceeds towards their debt. However, it was not enough and they are still in financial difficulties. Was...
If you are living on Vancouver Island you have much to be thankful for. For that matter, anywhere along the west coast of BC is a wonderful spot. That can be hard to keep in perspective when the pressure is mounting over your unpaid bills and debt collectors have started...
One of the options for obtaining relief from your debts is to file for Bankruptcy protection. This can sometimes be the most practical option when a consolidation loan or a Consumer Proposal just does not fit your circumstances. When you file an assignment into Bankruptcy you are required to report your...
With another tax year in the books, I have recently noticed an increase in questions relating to personal income tax returns. I thought to myself “What a perfect topic for my next blog”. Hopefully, the following will be helpful in understanding how your tax returns are filed during Bankruptcy. Different Types...
One of the misconceptions about filing for personal Bankruptcy is that a person thinks that they may lose valuable assets. In fact, the stated intent of the Federal legislation is to provide the honest but unfortunate person with a fresh start. How then could a person make any progress with...
If you have a long-outstanding debt that you have been unable to pay and you haven’t been in contact with the creditor for some time, you may be wondering: Is there a statute of limitations in BC? Furthermore, what does it mean when a debt becomes statute-barred? In Canada, most provinces...
The west coast of BC is a great place to live. Outdoor opportunities are endless and it can be super useful to have a truck. Whether you are pulling a boat in Prince Rupert or going camping near Campbell River, a truck is typically the vehicle of choice. In addition,...
It’s common to feel anxiety when you have debts that you are unable to pay. This feeling is increased by the phone calls you receive from debt collection agencies. These calls can often be threatening or intimidating as the collection agents try different tactics to try to get you to...
Canada Revenue Agency (CRA) has a very heavy hand when it comes to collecting on income taxes which can include seizing your bank account. This is usually the last resort, after repeated phone calls and letters so you can’t pretend this is a surprise. You may not have believed they’d...
It might be a surprising fact to learn that the world wants you to go into debt. Congratulations you are pre-approved! Buy now, don’t pay for a year! These are basically tricks to make you slave to an interest payment. Before you know it, your payments are not even budging...