22 Jun Understanding the Bankruptcy Mediation Process

Posted at 19:17h in Blog by Shirley Tomyn

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...

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14 Jun How Your Income Tax Return Is Filed During Bankruptcy

Posted at 08:22h in Blog by Len Hiquebran, CPA, CA, LIT

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...

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20 May BC Bankruptcy Exemptions: Will I Lose Everything if I File for Bankruptcy?

Posted at 19:58h in Blog by Shirley Tomyn

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...

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07 May Is There a Statute of Limitations in BC?

Posted at 08:30h in Blog by D. Elinor Warner

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...

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04 May Big Truck Loans Can Mean Big Debt Headaches

Posted at 10:26h in Blog by Derek L. Chase, CPA, CA, LIT

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,...

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22 Mar How to Make Debt Collectors Stop Calling

Posted at 11:16h in Blog by Len Hiquebran, CPA, CA, LIT

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...

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18 Mar Canada Revenue Agency Has Frozen My Bank Account… What Do I Do?

Posted at 20:16h in Blog by Derek L. Chase, CPA, CA, LIT

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...

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02 Mar Three Ways to Get Ahead of Your Debt in 2021

Posted at 14:20h in Blog by Derek L. Chase, CPA, CA, LIT

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...

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24 Feb How to Start a Budget

Posted at 11:15h in Blog by D. Elinor Warner

Keeping a monthly budget is an essential part of healthy finances, no matter how much money you make. A budget is simply a plan for where your money will go before you spend it. But it can be daunting to get started. If you haven’t started to budget yet, you...

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15 Feb Debt and Divorce: A Common Cause of Bankruptcy

Posted at 12:05h in Blog by D. Elinor Warner

There are countless things that cause Canadians to experience financial difficulty. Things such as job loss, poor spending choices and being a victim of fraud are just a few reasons behind Canadians’ financial troubles. Among these, a relationship change, whether that means a breakup, separation, or divorce, is one of...

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