What happened to David Cassidy? This YouTube David Cassidy video says it all. His bankruptcy, notwithstanding he refutes it, must be related in some small part to his alcoholism and the several David Cassidy DUI events. The US Bankruptcy Court has ordered that he now must have his Florida home sold by auction. For those of you […]
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Alternatives to bankruptcy Our insolvency clients, be they personal or corporate, usually want to start a consultation by asking us bankruptcy questions. However, I first start by obtaining a full understanding of the person’s or company’s financial challenges, so that we may consider all of the realistic options before discussing the topic of bankruptcy. I first […]
Some debts are fun when you are acquiring them, but none are fun when you set about retiring them. Ogden Nash Holiday debt; every year, one of the top New Year’s resolutions is to reduce debt and 2015 is no exception. In December, Equifax Canada reported that the average Canadian household was $20,891 in debt. In […]
Personal bankruptcy is rarely spoken of in a positive light, yet for some, it can be a great beginning. Here’s a truly inspirational story of a new beginning from the files of Ira Smith Trustee & Receiver Inc. Molly (not her real name) was a 41-year-old woman who was married with one child. She was […]
Millennial home ownership may be out of reach because there is no doubt that Millennials are struggling with debt and it’s a serious issue. We’ve addressed this problem in two previous blogs – Millennials Debt; A Plan for Escape and Gen Y Trapped: Millennials in Debt. For those of you unfamiliar with the term Millennial, […]
It may surprise you to learn that high earners, earning a six figure salary is not a guarantee of financial stability or security. A big house, luxury cars and exotic vacations frequently don’t tell the real story. You may be looking at a lot of smoke and mirrors. Often these high earners become victims of […]
Bankruptcy trustees advise people in financial distress to think of bankruptcy as just another financial tool. Bankruptcy still carries a stigma with it for many people, but if you have too much debt, cannot repay your debts and are afraid to open the mail or answer the phone because of all the collection letters and […]
I recently read an article on millennials debt that actually referred to Millennials as “The Generation of Debt”. We recently reported on this very serious problem in our blog “Gen Y Trapped: Millennials in Debt”. Pew Research reports that Millennials are more distrustful of people than ever, less likely to belong to a party or […]
Scared to declare personal bankruptcy? Don’t be. Bankruptcy is a legal process that can provide relief to honest but unfortunate individuals who are unable to pay their debts. According to the Office of the Superintendent of Bankruptcy Canada: A total of 118,678 Canadians either filed for personal bankruptcy or filed a consumer proposal in 2013, an […]
Personal loans for bad credit commercials and advertisements are very seductive. It seems so easy – money in your bank account in no time and they can be arranged online 24/7. Serious debt can be debilitating, leaving you feeling helpless, out of control and not knowing where to turn. The answer to your problems is […]