Canadian insolvency laws: Introduction In today’s commercial world, our economy focuses on and requires Canadian insolvency laws. Insolvency is the financial condition where you cannot pay your debts as they come due and if you liquidated all of your assets, there would not be enough cash to pay off all of your debts. Insolvency […]
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Corporate bankruptcy in Canada: Introduction A brand-new report from PwC Canada discloses that in 2018, Canadians anticipate spending an average of $1,563, up 6.7% over last year. Men are expected outspend women by almost $400. That got me to start thinking about what the most complex issue for corporate bankruptcy in Canada is when an […]
Form 31 proof of claim: Introduction In last week’s vlog, I reviewed why it is important to complete a form 31 proof of claim truthfully, and the penalties for filing a false claim. For both personal and corporate insolvency files, creditors call asking how to complete the document. I discuss in this vlog why it […]
Transfer of property under s.160 of the Income Tax Act: Introduction Last August, Rudy Giuliani said, “truth isn’t truth”. Today I want to explore an important issue we come across many times when dealing with income tax debt driven insolvency files. That is the transfer of property under s.160 of the Income Tax Act (Canada). The […]
Proof of claim bankruptcy Canada: Introduction On September 24, 2018, the US Department of Justice Trustee Program (USTP) that it reached a $5 million settlement with Citibank. As described below, it had to do with the improper preparation and filing of bankruptcy proofs of claim. The purpose of this blog is to explain the issues […]
Mortgages for seniors Canada: Introduction TransUnion Canada’s most recent TRANSUNION Q2 2018 INDUSTRY INSIGHTS REPORT found that borrowing for mortgages was reduced in Canada in 2018. A troubling statistic exists for mortgages for seniors Canada. In this Brandon’s Blog, I discuss this and certain other issues arising from the TransUnion Canada report. Secured home loans […]
Rebuilding credit Canada: Introduction After fully completing a consumer proposal or receiving a discharge from bankruptcy, it is important to start immediately rebuilding credit Canada. The purpose of this Brandon’s Blog is to provide you with our foolproof and painless 3 step plan to eliminate those negative credit checks and fix your credit trouble by rebuilding credit Canada. Rebuilding credit Canada: Step 1 – […]
ToToronto real estate: Introduction This Brandon’s Blog is about Toronto real estate and what happens when the purchaser experiences buyer’s remorse. “When the residential real estate market is a rising market, most people – perhaps with the exception of first-time buyers, are happy homeowners and investors. When the market turns and drops, it is not for […]
Debt relief Canada: Introduction This is always a hot topic. I am asked often how does debt relief Canada work? I recently wrote blogs about professional athletes who made a lot of money in their careers and who are now broke, or worse, bankrupt. FORMER PRO ATHLETES WHO ARE BROKE: EARN OVER $400 MILLION […]
Filing for bankruptcy in Canada: Introduction With filing for bankruptcy in Canada, if a person’s discharge is opposed, there must be a court hearing. At the hearing, the court will decide if the discharge will occur. Once the discharge is granted, the person will be relieved of his or her debts as of the day he […]