Consumer debt: Introduction Every day, I encounter people—both consumers and entrepreneurs—who are wrestling with the ever-looming shadow of financial anxiety. You know the type: those who can’t remember the last time they had a peaceful night’s sleep, thanks to the chorus of bills and debts serenading them from their nightstands. This personal rollercoaster got me […]
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Interest rates: Introduction From the 2023 Federal Budget, the Canadian federal government has garnered significant attention for its proposed measures regarding interest rates on predatory loans. This initiative has been lauded by activists as a commendable effort towards safeguarding consumer interests, promoting financial inclusivity, and antipoverty measures. The budget aims to oversee the financial sector […]
The Ira Smith Trustee Team is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting. We hope that you and your family are safe and healthy. Canadian consumer debt introduction On November 30, 2020, Equifax Canada reported that total Canadian consumer debt climbed 3.8% to […]
If you would prefer to listen to an audio version of this what is a division i proposal Brandon’s Blog, please scroll to the bottom and click on the podcast Introduction Over recent times, I have been receiving increased inquiries as to what is a division i proposal. The purpose of this Brandon’s Blog is […]
This video is courtesy of ABC News. References to IRS can be replaced with CRA. The top consumer scams to watch for in 2017 will know no geographical boundaries. Top Consumer Scams To Watch For In 2017: Introduction Consumer experts are already predicting the rip-offs and top consumer scams to watch for in 2017. Our […]
Consumer debt Canada: Introduction Consumer debt Canada and household debt as a percentage of income remains a hot topic these days. The high household debt as a percentage of income coupled with a Toronto housing boom and until recently a Vancouver housing boom, puts Canada’s economy at risk. Whenever we thought that Canada’s consumer debt […]
In last week’s blog we discussed the stakeholders and key players and their roles in a corporate restructuring. This week we’ll be addressing the Division 1 Proposal, commonly referred to as a Commercial Proposal or the Proposal. What is a Division 1 Proposal? The Division 1 Proposal is a legal document typically drawn up by […]
The Greater Toronto Area is facing its worst business debt crisis in decades. As a licensed insolvency trustee who has helped many GTA businesses navigate financial challenges, I’m seeing alarming trends that every business owner needs to understand. The GTA Business Landscape: Canada’s Economic Powerhouse Under Pressure Toronto is Canada’s business and financial capital. It […]
Bankruptcy and Insolvency Act Forms Introduction Dealing with debt can feel overwhelming. If you are a person looking into bankruptcy or a consumer proposal in Canada, or you are a business owner putting your company into a formal financial restructuring process, you’ll need to understand the paperwork involved by the insolvency profession. As a Licensed […]
What is a Stay of Proceedings? A stay of proceedings is like hitting the pause button on debt collection. When you file an assignment in bankruptcy, a consumer proposal or a Notice of Intention To Make A Proposal in Ontario, this legal protection automatically stops most unsecured creditors from taking collection action against you. If […]