In Canada we wrap ourselves in a blanket of socialized healthcare and believe that our provincial medical plans will protect us from financial ruin. People are unaware that serious illness and medical debt can ruin you financially on both sides of the Border. We feel immune from the financial disaster that afflicts many Americans who experience […]
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One of the things that seems to confuse many people when it comes to the bankruptcy process is “surplus income”. It’s hard to wrap yourself around the concept of surplus income when you are considering or are involved in a bankruptcy. Can you really have surplus income if you’re bankrupt? What is surplus income? Surplus income in […]
What Happens to Credit Card Debt When You Die? Introduction What happens to credit card debt when you die? Credit card debt can’t follow you to the grave but it does live on. It is paid off from estate assets. But if there are no or insufficient assets in the Estate, what then? The traditional […]
Real Estate Receiver Introduction to Real Estate Insolvency Commercial real estate markets are constantly evolving, and with the recent upswing in defaulted real estate loans on commercial properties, lenders and borrowers are facing unprecedented challenges. I have observed the current market conditions from our ongoing real estate receiver files with keen interest. The landscape is evolving, presenting […]
How to pay off credit card: Introduction to understanding the credit card debt crisis in Canada The financial services researchers at TransUnion Canada (TransUnion) have recently reported a concerning trend among Canadians. Many households struggle to keep up with the rising cost of living and higher interest rates, leading to a significant increase in credit […]
Paycheque to Paycheque Introduction Living paycheque to paycheque has become a harsh reality for many Canadians, despite the Bank of Canada’s optimistic economic outlook. In this Brandon’s Blog, I delve into the stark contrast between the Bank of Canada’s perception of how households are coping with higher interest rates and the actual struggles faced by […]
Introduction to Business Insolvency Welcome to our Brandon’s Blog where we will explore the intricate world of insolvency and its profound impact on businesses in Canada from my perspective as a professional in the field. In this exploration of business insolvency, we will uncover the implications that insolvency brings for creditors, shareholders, their lawyers and […]
Insolvency Meaning: Introduction In a vibrant economic environment where change is the only constant, legal and accounting experts have to be fluent in insolvency laws to be able to supply their clients with some basic advice they require to navigate tough financial situations. To use reliable guidance, lawyers and accounting professionals require a basic understanding […]
Overview of the Canada Emergency Response Benefit In the unprecedented times of the pandemic, one of Canada’s COVID-19 Economic Response Plan by PM Justin Trudeau and the Federal Government was the rolling out of the Canada Emergency Response Benefit (CERB) to provide financial aid to those affected by the COVID-19 pandemic. However, the eligibility requirements […]
Credit card minimum payment crisis: Introduction In today’s high-interest setting, handling financial obligations has actually ended up being even more vital for people. With increasing rates of interest, it is necessary for Canadians to have a distinct budget plan as well as be mindful of their spending habits. By applying efficient strategies such as monitoring […]