Derek L Chase & Associates Ltd.
You might be surprised to learn that there is a cost to file for bankruptcy. This may seem illogical because if you had money you would likely just pay your debts. The good news is this cost is regulated by the Federal Government and all fees are checked by the...
Given the recent downturn in the global economy and the numerous new risks faced by businesses, many are struggling. You may have read in the newspaper or seen on the news references to a company being in bankruptcy or receivership and been wondering is there a difference? The quick answer is...
With insolvency proceedings rapidly rising across the country and thousands of Canadians still out of work, we are facing challenging economic times. During times like these many individuals begin to look at those closest to them for financial assistance. Often friends and family are approached for loans to help, however...
Given the recent global events surrounding the Covid-19 pandemic, credit use has been steadily increasing. With the rise in unemployment rates and the subsequent reduction in the household income of millions of Canadians, many are faced with the prospect of going further into debt. If you need to borrow money, whether...
Death and debt are two subjects that we don’t always like to talk about, however, they are things that can weigh on peoples’ minds, especially when carrying a heavy debt load. One question that we hear from time to time is if I die, will my family have to pay...
Calls from a collection agency or someone pretending to be the Canada Revenue Agency threatening to take you to debtor’s prison because of an unpaid debt is becoming part of everyday life. I personally can recall at least 5 phone calls from scammers pretending to be the Canada Revenue Agency...
It is interesting to meet people who have different stress thresholds when it comes to debt. Some people are terrified about having $10,000 in debt while others are quite comfortable when the number is ten times higher. When it comes to having a lot of debt, one of the main...
The pathway through life has many ups and downs and can have numerous potholes to avoid. Often, as we journey, the question comes to mind about how we could possibly change our life. One important way, if you are in debt, is to find life-changing debt relief. The self-help section of...
Sometimes in life, there are things that you just know that you have to do. For example, changing jobs, moving to a new location, changing relationships, and possibly changing your finances by declaring bankruptcy. While these decisions are not easy ones, you have likely put a lot of thought into it...
Often when we meet with people the question comes up about how their credit score will be impacted. A justifiable concern. If you are in a position where you are missing payments, or had a vehicle repossessed, your credit score has already been roughed up. Choosing the government approved option of...