Tag: bankruptcy canada

BANKRUPTCY BLOG CANADA: OUR SUBSCRIBERS RESPONSES TO OUR SURVEY ABOUT BRANDON’S BANKRUPTCY BLOGSPOT

Post author By Brandon Smith
Post date July 5, 2017

Bankruptcy blog Canada: Introduction

Our bankruptcy blog Canada is designed to answer questions that you have about a bankruptcy or financial debt question.

Bankruptcy blog Canada: Our often asked questions we try to answer in our Brandon’s Blog

Contact a Licensed Insolvency Trustee in your place currently with your inquiry, and receive an individualized answer.

Select a bankruptcy blog Canada site class to read concerns from other readers, as well as solutions from our trustees:

You could additionally send your personal confidential concern. One inquiry chosen each day for our experts to answer. To assure a solution to your question, please e-mail a trustee in your area.

For declaring bankruptcy inquiries as well as relevant subjects, depend on the professionals at Ira Smith Trustee & Receiver Inc.

Bankruptcy blog Canada: Recent anonymous questions

Customer’s Guide to Credit Card Fraud

It’s not common, one of the things that could trigger people to file bankruptcy or a consumer proposal is if they’ve been the target of credit scores card scams. Here are some things you can do to secure on your own. Among one of the most common ways that people succumb to bank card fraud is simply […]

Can I declare bankruptcy while on Long Term Disability?

A couple of months ago I got a letter from Long Term Disability (LTD) to pay them back around $ 50,000.00. I am not able to pay this measure. I asked many various economic establishments to get a lending.

Considering bankruptcy blog Canada: minimal financial obligation

Looking to assert bankruptcy. Is his revenue considered my revenue if I send? The financial obligation is all my very own, none of it is joint with my spouse.

Just what occurs to money received after a bankruptcy or consumer proposal? If I were to file for bankruptcy, or a consumer proposal, in Quebec, and after a year or two I won a considerable quantity of money, exactly what would certainly occur to these funds in a court case?

Can I receive it without anybody being able to touch it?

Exactly how Does Consumer Proposal Affect Families?

Households, like people as well as pairs, have a vast array of expenses that draw on their financial resources. But also for family members with children, expenditures are often bigger as well as more diverse than expected. Youngsters Can Be Expensive! Children are the typical “wild cards” when it pertains to household costs. Parents supply well for their […] 3bestaward

Bankruptcy blog Canada: Power of Attorney and financial responsibility

There are bank debts and credit card debt. Is it acceptable to negotiate with these borrowers to pay a percentage of the debt than the full amount?

Earnings residential or commercial property and Consumer Proposal

I have an inquiry about a rental residential property and home appliances inside it. If I were to give a consumer proposal as well as let the financial institution take back, my earnings home am I entitled to remove the machines before providing the residential or commercial property back?

Bankruptcy on mortgage with an ex lover spouse.

My ex-spouse. I can not pay the home loan as it is a high-interest rollover as well as if I go bankrupt am I responsible for any financial debt if he sold the house or goes insolvent himself.

Bankruptcy blog Canada: Awaiting Trustee’s Discharge

After an individual obtains instantly released why do we have to wait for the Trustee to be discharged? My discharge was 2.5 years earlier, and the Trustee office states they are waiting to be discharged.

Secured financial obligation by another person and bankruptcy

Wondering just what happens if we file bankruptcy, as well as we have a protected credit line with my mother in law? We have a $30000 credit line that my mommy in regulation protected with her savings, however we must declare bankruptcy as well as would like to know just what will certainly happen to her as well as her […]

Bankruptcy blog Canada: What to do if you have too much debt

I hope that you have found this vlog helpful. If you’re looking for ways to end your financial debt call Ira Smith Trustee & Receiver Inc. Our strategy for every single person is to develop a result where Starting Over, Starting Now comes true, starting the minute you stroll in the door. You’re just one call away from taking the necessary actions to get back on the road to leading a healthy and stress free life. bankruptcy blog canada 10

Tags bankruptcy blog, bankruptcy blog canada, bankruptcy blogspot, bankruptcy canada, blog canada, blogspot, declaring bankruptcy, Ira Smith Trustee, personal bankruptcy in canada

Brandon Blog Post

CREDIT REPAIR TORONTO: HOW TO USE IT TO NOT RUIN YOUR LIFE

Post author By Brandon Smith
Post date March 16, 2016

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Credit Repair Toronto: Why Not?

Many people think it’s best to try a credit repair Toronto company before they investigate the Canadian insolvency process. I’m here to tell you that many of these companies are not acting in your best interest.

What do Dave Ramsey and Gail Vaz-Oxlade have to say?

Many are paid – and in some cases managed – by credit card companies. According to an article by financial guru Dave Ramsey:

“Some of these ‘counselling’ companies withhold credit card payments until the account is three to six months past due. Then, they contact the lender and negotiate to settle the bad debt…That’s how they get negotiated discounts on credit card debt. Card companies don’t settle on your debts when your payments are on time. These services are always a bad idea, and sometimes they’re a complete scam.”

Dave Ramsey isn’t the only one leery of credit repair Toronto companies. Gail Vaz-Oxlade writes:

“One of the big drawbacks of using a debt counselling or debt management company is that they don’t come with any serious advice, so people often fulfill their commitment and then go right back out and rack up their debt again.”

Does the Ontario government like credit repair Toronto companies?

The provincial governments have their own opinion. Most provinces have enacted legislation to try to thwart many of their shady practices. Stay away from credit repair Toronto companies. Do not be afraid to go to a Licensed Insolvency Trustee for a free consultation at the first sign of financial trouble. (See the picture at the bottom of this page for a special offer).

We have previously written blogs on the credit repair Toronto industry who have been preying on consumers for far too long. We’ve warned you about them in previous blogs:

In 2010, after a decade of massive growth in the U.S. debt settlement industry, the FTC brought in new regulations that effectively banned debt settlement companies and forced many of them to migrate north of the border. This resulted in 18 companies and 34 credit counselling providers offering debt settlement services in Ontario.

With ever-mounting numbers of complaints about unsuspecting consumers being taken advantage of by unscrupulous credit repair companies, the Ontario government has finally taken action and passed Bill 55.

What will Bill 55 do? It creates new standards of conduct for credit repair Toronto companies by:

Banning them from charging upfront fees
Limiting the number of fees consumers are charged and prohibiting the payment of fees before services are provided
Requiring clear, transparent, and detailed contracts that include information about the effect of the contract on the consumer’s credit rating
Requiring credit counsellors to disclose information to the consumer about how the organization is funded
Establishing a 0-day cooling-off period, providing consumers more time to consider their agreements with companies
Allowing the licenses of non-compliant companies to be revoked

If not credit repair Toronto companies, then what should YOU do?

Please stay away from credit repair Toronto companies! Rather, obtain a free consultation from a licensed insolvency trustee to understand the options available to you either as an alternative to bankruptcy or of bankruptcy itself. We are professionals, federally regulated, licensed and subject to a strict code of ethics. Our fees are regulated by the Federal Government and are usually much less than credit repair companies who make unsubstantiated claims. We can help; Starting Over, Starting Now you can live a debt-free life.

We have been able to help many individuals carry out a successful debt settlement program. It all began with debt counselling. The first step is a realistic household budget.
Successful completion of such a program will free you from the burden of your financial challenges to go on to live a productive, stress-free, financially sound life.

Call us today so you can get on the road to financial recovery immediately.

The first part of this vlog is from our newly released book:

I said above that there would be a special offer and here it is. If you would like to receive a complimentary, totally free copy of our eBook, please sign up as a subscriber to our blog. You can do so by filling in the subscription pop-up box on this page. If you are already a subscriber, thank you, and just shoot me an email asking for your complimentary copy.

If the subscription box on this page has gone away, you can click on the picture of our eBook in this article which will take you to our main blog page, and you should soon see the pop-up subscription box again. As a side bonus, you will also receive notice of all of our new blogs and vlogs, with a link directly to them.

Early next week,you will receive an email with an invitation to download a complimentary copy of our new eBook – PERSONAL BANKRUPTCY CANADA: Not Because You Are A Dummy, Because You Need To Get Your Life Back On Track.

Tags alternative to bankruptcy, Bankruptcy, bankruptcy canada, Bill 55, credit card, credit card companies, credit repair, credit repair toronto, dave ramsey, debt counseling, debt counselling, debt settlement, debt settlement program, gail vaz-oxlade, Ira Smith Trustee, licensed insolvency trustee, personal bankruptcy, starting over starting now

Brandon Blog Post

▓ VIDEO: CONSUMER PROPOSAL VS. PERSONAL BANKRUPTCY ▓

Post author By Brandon Smith
Post date September 24, 2015

consumer proposal vs. personal bankruptcy

This short video (found at the bottom of this page) explains the differences between a consumer proposal vs. personal bankruptcy. A consumer proposal is a deal to end your debts. A consumer proposal is a legally binding process that is administered by a licensed trustee. Ira Smith Trustee & Receiver Inc. is a Toronto bankruptcy trustee and consumer proposal administrator.

We have written previous blogs about consumer proposals, including:

We offer personal bankruptcy and consumer proposal services, as well as corporate restructuring and corporate receivership and bankruptcy services to residents of the Greater Toronto Area. We explain the differences between a consumer proposal vs. personal bankruptcy. In most cases we can get a consumer proposal done and it usually results in a substantial reduction in the amount you have to repay. The amount you are required to pay when you file a consumer proposal depends on a number of factors as explained in this short video. We hope that you find the short video informative and interesting. If you have any topics about debt, insolvency or finances that you would like us to cover in future videos, please let us know by leaving a comment.

If you are experiencing financial problems, or you know that you are insolvent and are considering a consumer proposal vs. personal bankruptcy, or looking at all of your realistic options, including all alternatives to bankruptcy, contact Ira Smith Trustee & Receiver Inc. We offer sound advice, a free consultation and a solid plan for Starting Over, Starting Now so that you’ll be well on your way to a debt free life in no time.