We’ve been discussing the serious issue of seniors in debt, but seniors are not the only ones experiencing serious financial challenges. Those of us still working are facing different, but equally daunting challenges. You have a job and you work hard. You pay all of your bills on time and you pay your taxes. What […]
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Last week we discussed “What Do The Golden Years Really Look Like”?This week we’ll be addressing why the majority of seniors are in debt and provide help for seniors in debt. Seniors are facing a myriad of financial issues that have made their anticipated “golden years” anything but golden. The Sandwich Generation: Many are still […]
How did you imagine retirement? A paid off house or condo, winters in Florida, summers on the golf course? You may be one of the fortunate few that actually get to live this retirement dream, but the reality that many seniors face is bleak. Sadly many Canadian seniors in debt are finding themselves drowning in […]
In last week’s blog we talked about Divorce And Bankruptcy – Which Comes First? Sadly, divorce and bankruptcy are indelibly intertwined. The number one reason couples get divorced is financial issues and 1/3 of all people in Ontario facing bankruptcy are there because they are also going through a divorce or a separation. The issue […]
Most of us look at the rich and famous and wish we could live their lives. We see multi-million dollar mansions, driveways full of Porches, Maseratis, Jaguars, and Bentleys, exotic vacations on magnificent yachts and private islands, and private planes. Who wouldn’t want to live that lifestyle? But, there is a deep, dark secret – […]
What do you mean by good credit scores have sex appeal? We all know that if you want to borrow money, buy a house, purchase or lease a car…… you need a good credit score. But, did you know that now you may need a good credit score to find love? We live in the […]
Death and taxes are certain; but serious debt is optional. The importance of budgeting and living debt free cannot be overstated. In our last two blogs – Is the Ultimate Indignity to Bankrupt a Deceased Person Part 1 and Part 2, we discussed the problems that can arise when there is debt and death. Sixty-seven […]
In last week’s blog we discussed the dilemma that arises when your parent(s) passes away in debt. This week we’ll be addressing your options, what your obligations are, and what you can do for the death of a debtor. If your parent(s) pass away in debt and there are insufficient assets to pay off the […]
If you think that hiding your assets in a bankruptcy is a good way to hang onto your property; think again. This is not a minor matter. In fact it’s a violation of the Bankruptcy and Insolvency Act (BIA) and the Criminal Code and it’s punishable by hefty fines and/or prison time. You will find […]
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 […]