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DioGUARDI TAX LAW: BELIEVING THEIR INTENSE MYTHS KEEPS YOU FROM SOLVING YOUR DEBT PROBLEMS

DioGuardi tax amnesty, dioguardi tax law, dioguardi tax lawyers, tax lawyer, Philippe DioGuardi, Canada Revenue Agency, CRA, Law Society Tribunal, professional trustee, bankruptcy alternative, credit counselling, debt consolidation, consumer proposal, bankruptcy, trustee in bankruptcy, starting over starting now

DioGuardi Tax Law – The Introduction

Several months ago we first introduced you to Philippe DioGuardi, a Canadian tax lawyer – The Tax Lawyer; Even a High Profile Tax Fighting Tax Lawyer Has to Pay His Income Tax. He’s the high-profile tax lawyer of DioGuardi tax lawyers who portrays himself as a one-man bulldog lawyer crusader against the unfair tactics of the Canada Revenue Agency (CRA). Ironically, at that time, a Toronto Star investigation revealed that Philippe DioGuardi had his own tax problems with the CRA and he paid up; the DioGuardi tax law couldn’t create the DioGuardi tax amnesty magic or “change the game”, to quote his own radio ads.

dioguardi tax law

DioGuardi Tax Law – The Change

Recently I noticed that Philippe DioGuardi, a prominently featured DioGuardi tax lawyer, was no longer featured in the radio ads. Instead, they are being voiced by his father Paul DioGuardi. The ads are now very low-key, with none of the old bluster and bravado. And, I wondered why DioGuardi tax law no longer featured Philippe DioGuardi, the tax lawyer in Toronto.

That is until I read the latest Toronto Star article about him stating, “Self-styled tax fighter Philippe DioGuardi has been given a six-week suspension, a $5,000 fine and an order to pay $75,000 in legal costs after being found guilty of professional misconduct by the Law Society of Upper Canada” (LSUC). So LSUC found law society misconduct charges were proven and assessed a tribunal penalty and didn’t buy into the DioGuardi tax law concept of income tax law, as written by Philippe, and so he has a brief rest from the practice of law – a twist on DioGuardi tax amnesty!

dioguardi tax law

DioGuardi Tax Law Professional Misconduct

The law society lawyer was successful in proving, according to the Order Summary of the Law Society Tribunal Philippe Joseph Mario DioGuardi (1990), of the City of Mississauga was found to have engaged in professional misconduct for:

  • failing to act with integrity by having eight clients execute a Retainer Agreement which contains terms that benefit DTL to the potential detriment of the tax debtors clients;
  • between April 2007 and October 2012, failing to deposit client money retainer funds received from six clients into a trust account or transferred the client retainer money from the trust to general within a few days of receipt of the funds prior to the performance of any or very little legal services for which he was retained;
  • transferring the retainer client funds paid by a client into DTL’s general account within a few days of receipt of the funds prior to the performance of any legal services for which he was retained;
  • immediately transferring the retainer funds paid by a client into a third party trust account for the benefit of DTL alone rather than for the client’s benefit and the client no longer had ownership of the monies;
  • failing to perform legal services to the standard of a competent lawyer in respect to six tax troubles matters.

DioGuardi tax law, as written by Philippe, is an interesting experiment. It may not be right, but it has certainly garnered a lot of attention.

dioguardi tax law

If you have too much debt, contact us

Do you or your company have unpayable tax debts? Are you looking for unpayable tax debt solutions? If you are an individual or company who needs to free themselves from the stress and strain of too much debt, and especially if you have been told your situation is hopeless, Ira Smith Trustee & Receiver Inc. can prepare and implement the plan made just for you, to free you from the burden of your financial challenges to go on to live a productive, stress-free, financially sound life. This plan includes resolving unpayable tax debt solutions. We have vast experience in helping people and companies with a variety of financial challenges.

If you’re experiencing serious debt issues with the CRA, or for any reason, contact a professional trustee for a free, no-obligation consultation. The Ira Smith Team does not try to write new insolvency law or tax law. Rather, we will evaluate your situation within the existing statutes, and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. Starting Over, Starting Now you can be debt-free with the help of a professional, licensed trustee in bankruptcy.

Contact us today.

dioguardi tax law

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HOLIDAY SPENDING CALCULATOR: 5 HOLIDAY SPENDING TOOLS EVERYONE NEEDS

Holiday spending calculator

If you are an individual or company who needs to free themselves from the stress and strain of too much debt, and especially if you have been told your situation is hopeless, Ira Smith Trustee & Receiver Inc. can prepare and implement the plan made just for you, to free you from the burden of your financial challenges to go on to live a productive, stress-free, financially sound life.

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HHoliday spending for the holiday shopping season has started. We have been inundated with commercials, advertisements and emails about Black Friday and Cyber Monday sales. We are all thinking about buying those Chanukah and Christmas gifts. It is natural for all of us to want to buy something special and of high quality for our loved ones. Something special and high quality usually means expensive, but it doesn’t have to be.

We previously wrote about holiday spending and holiday debt:

  1. SUFFERING THE CONSEQUENCES OF TOO MUCH HOLIDAY SPENDING?
  2. HOLIDAY DEBT; ARE YOU DROWNING IN IT?

Below are our 5 tools everyone who wants a holiday spending calculator should be using in order for holiday spending not to turn into holiday debt that we cannot afford to repay:

  1. Make a list of what you will need to buy

Impulse buying can get anyone into a lot of trouble. It is difficult not to buy on impulse if we do not have a plan to follow. Before buying anything, make a list of what you need to buy for each person. Usually, a gift that a lot of thought has been put into will be one that the recipient cherishes, and it is not necessarily the most expensive item. Emotions don’t know price tags, and the best heartfelt gift geared perfectly for your loved one will steer you away from impulses.

  1. Set a budget for each expense

Figure out how much in total you can afford to spend, and then allocate the funds amongst the things you need to buy. If you will be travelling to friends and family over the holidays, don’t forget to include the cost of travel, lodging and food as part of your overall budget. Then stick to it. Use your ordinary calculator as a holiday spending calculator.

  1. Start saving early

You should have your total budget figured out early in the year, and then start saving. That way you can afford to purchase either for cash or if on credit card, you will be able to pay it off in the following month. It is hard to put your hands on a lot of money all at once, but it may be no problem for you to save a little bit each month, ending up with the total you need for when you need to make your purchases.

  1. Start shopping early

If you set your list and budget early, then you can be looking for the non-perishable items on your list throughout the whole year. This will let you cash in on special sales, thereby saving you money. This will keep your holiday spending total as low as possible.

  1. Don’t disrupt your normal bill paying and savings program throughout the year

Have you ever heard the expression “pay yourself first”? That is the best gift you can give to yourself. Make sure that your year in year out obligations for bill paying and a normal savings program is intact and on budget, before you add more expenses into your budget. Don’t rationalize a break in your normal bill paying and savings program by saying you will play catch up next month. It rarely happens and then you just fall further behind. Use your holiday spending calculator to help you figure out what you need to save.

Do you already have too much holiday spending debt and other debts?

Now it’s time to deal with the sobering reality of holiday spending and there is no time to waste. If you are experiencing serious debt issues contact Ira Smith Trustee & Receiver Inc. today for advice and a plan to tackle your financial difficulties so that you can be Starting Over, Starting Now.

holiday spending calculator

 

 

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407ETR BANKRUPTCY DEBT CHECKLIST: YOU NEED IT NOW!

407, 407 bankruptcy, 407 debt, 407 debt settlement, 407 etr, 407 ETR bill, 407 ETR debt, 407 ETR debt settlement, 407ETR bankruptcy, 407ETR bankruptcy debt, Bankruptcy, bankruptcy alternative, Bankruptcy and Insolvency Act, BIA, Consumer Proposal, credit counselling, debt consolidation, debt settlement, Highway 407 Act, Ira Smith Trustee, Matthew David Moore, Moore Decision, plate denial, professional trustee, SCC, starting over starting now, Superintendent of Bankruptcy, Supreme Court of Canada, trustee, trustee in bankruptcyTo access the 407ETR bankruptcy debt checklist, simply click on the picture either at the top or bottom of this blog. It will take you to our secure website for access.

407ETR Bankruptcy Debt: How did the Checklist come about?

407ETR bankruptcy debt was the topic of last week’s blog 407ETR DEBT SETTLEMENT: OUR NEWEST GUILT FREE WAY TO DO IT, we reported on the Supreme Court of Canada (SCC) decision in 407 ETR Concession Co. v. Canada (Superintendent of Bankruptcy), 2015 SCC 52 (CanLII) (the Moore Decision).

To summarize that decision, the SCC dismissed the 407ETR’s appeal because the discharge provisions of the BIA override the plate denial provisions of the Highway 407 Act.

We also reported that the effect of the SCC’s decision is that:

  1. Pre-bankruptcy amounts owed to 407ETR are deemed to be provable claims under the BIA and can no longer be collected through plate denial under the Highway 407 Act following a customer’s discharge from bankruptcy
  2. Where a person has been discharged from bankruptcy and has pre-bankruptcy amounts in plate denial, which are provable claims under the BIA, 407ETR will credit these amounts (plus interest and fees incurred on those amounts) on the person’s 407ETR bill, upon receipt of a Notice of Bankruptcy, and an Order of Discharge or a Certificate of Discharge.

In both cases, once the amount owing is credited, then the person is free to obtain plate renewal from the Province.

But the Court won’t tell me how to get my plate after getting rid of my 407ETR bankruptcy debt!

That is all well and good, but the SCC did not and would not tell the “man on the street” how to go about having the combination of the 407ETR and the Province of Ontario reflect all this and issue a new vehicle plate registered in the name of the discharged bankrupt. So we did!

Where do I get these tools?

We prepared a checklist so that discharged bankrupts and their advisors will have a roadmap as to what needs to be done and what tools are required in order for 407ETR and the Province to have the proper information in order to amend their records and allow for the vehicle plate registration.

To access the 407ETR bankruptcy debt checklist, simply click on the picture either at the top or bottom of this blog. It will take you to our secure website for access.

 

Do you have too much 407 debt and other debts?

Instead of going deeper into debt seek the help from a professional trustee, even if you’re not considering bankruptcy at this stage. A trustee in bankruptcy will evaluate your situation and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. With immediate action and the right plan the Ira Smith Team can solve your financial problems Starting Over, Starting Now. We’re just a phone call away.

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CANADA REVENUE AGENCY SCAMS: IF YOU READ ONE ARTICLE, READ THIS ONE

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canada revenue agency scams

Canada Revenue Agency scams

Canada Revenue Agency, or as it is also known, CRA, has noticed an increase in telephone scams where the caller claims to be from the CRA but is not, and is asking Canadians to beware. There is a CRA newsletter on the issue of Canada Revenue Agency scams and the fake Canada Revenue Agency scammers. These calls are fraudulent and could result in identity and financial theft, or vulnerable people being bullied into making a payment to a bogus Canada Revenue Agency officer. They will try to make you believe that the payment is going to a legitimate CRA account, but it isn’t. There is no such CRA program.

Canda Revenue Agency scams: Anyone is a target

Everyone is at risk of having their identity stolen and it’s easy to be taken in. Most people get a little nervous when they receive a phone call from the CRA; it’s like having a police car driving right behind you even if you’re not doing anything wrong. Recognizing the importance of warning the public about identity theft, we have already published several blogs on the subject:

Canada Revenue Agency scams: It will never happen to me, right?

A recent event prompted us to reach out and let you know that anyone can be a target. Ira Smith of Ira Smith Trustee & Receiver Inc. recently received a voicemail at home from someone claiming to be from CRA collections. Being a seasoned, professional trustee and aware of the recent uptick in identity fraud scams, Ira was immediately on guard when the caller asked him to have his SIN number ready for security purposes. Ira Googled the phone number that was left on the voicemail and sure enough, it was a scam.

Click below to listen to the CRA scam voicemail

Canda Revenue Agency scams: Do the RCMP know about this?

According to Corporal Josée Rousseau of the RCMP’s anti-fraud department, police first started seeing the scam two years ago. Callers work from boiler rooms and randomly phone people from purchased calling lists. They tell their victims they’re from Canada Revenue Agency, and they owe money in unpaid taxes. The RCMP also stated the callers are aggressive and often claim they will come to the victim’s house and arrest them if the money is not paid. They say many of the callers speak with a foreign accent and insist the money be paid immediately, either by credit card or via Western Union.

If you get a call from someone claiming to work for the CRA and want to confirm the authenticity of the call contact the CRA at 1-800-959-5525 for business-related calls and 1-800-959-8281 for individual calls. Or you can do as Ira did and Google the number and see what other people are reporting.

Canda Revenue Agency scams: Tips to identify possible scams

Here are some tips from the Canada Revenue Agency to help you identify possible tax scams:

The CRA:

  • never requests prepaid credit cards;
  • doesn’t ask for information about your passport, health card, or driver’s license;
  • does not share your taxpayer information with another person, unless you have provided the appropriate authorization; and
  • never leaves personal information on your answering machine or asks you to leave a message containing your personal information on an answering machine.

When in doubt, ask yourself the following:

  • Is there a reason that the CRA may be calling? Do I have a tax balance outstanding?
  • Is the requester asking for information I would not include on CRA forms with my tax return?
  • Is the requester asking for information I know the CRA already has on file for me?
  • How did the requester get my email address or telephone number?
  • Am I confident I know who is asking for the information?

If you have too much debt you need to take action NOW

Have you been a victim of identity theft or financial theft? If for any reason you’re facing serious financial difficulties, contact Ira Smith Trustee & Receiver Inc. today. We will review your file and take immediate action to get you back on a path towards debt-free living Starting Over, Starting Now.

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407 ETR DEBT SETTLEMENT: OUR NEWEST GUILT FREE WAY TO DO IT

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This 407 ETR debt settlement blog was reviewed earlier this week by Mr. Brian Empey, Partner, Goodmans LLP. We wish to express our thanks to Mr. Empey who made a valuable suggestion which we incorporated.

We have updated this blog for 2018 where 407 ETR has implemented some changes. Check out our blog 407 ETR RATES: THE ONLY 407 ETR RATES DEBT SETTLEMENT PLAN GUARANTEED TO ACTUALLY WORK for the update.

 

In January 2014 in our blog titled 407ETR FAIRNESS-ONTARIO COURT OF APPEAL ENSURES FRESH START we described to you the decision of the Court of Appeal for Ontario in 407 ETR Concession Company Limited v. Superintendent of Bankruptcy (In the Matter of the Bankruptcy of Matthew David Moore) (the Moore Decision).

The highway’s owners appealed that decision to the Supreme Court of Canada (SCC). On Friday, November 13, 2015, the SCC released three decisions all dealing with the same basic issue: does the federal Bankruptcy and Insolvency Act (BIA) take paramountcy over provincial laws purporting to deal with the issue of debt and bankruptcy in Canada. The SCC answer was a resounding YES!

What did the SCC decide about the provincial law about 407 debt settlement?

The SCC dismissed the appeal of the ETR. The SCC considered whether the plate denial provisions of the Highway 407 Act conflicted with the discharge provisions of the BIA. ETR’s position was that provincial law about plate denial should apply following a person’s discharge from bankruptcy. The Attorneys General for several provinces, including the Province of Ontario, advanced positions in support of the provinces’ jurisdiction to legislate in vehicle licensing.

The SCC’s decision upheld the Moore Decision which found that the discharge provisions of the BIA override the plate denial provisions of the Highway 407 Act.

What is the effect on ETR debt settlement?

The effect of the SCC’s decision is that pre-bankruptcy amounts owed to the ETR are deemed to be provable claims under the BIA and can no longer be collected through plate denial under the Highway 407 Act following a customer’s discharge from bankruptcy. Therefore, 407 etr debt settlement is possible.

Where a person has been discharged from bankruptcy and has pre-bankruptcy amounts in plate denial, which are provable claims under the BIA, 407 ETR will credit these amounts (plus interest and fees incurred on those amounts) on the person’s 407 ETR bill, upon receipt of a Notice of Bankruptcy, and an Order of Discharge or a Certificate of Discharge.

In both cases, once the amount owing is credited, then the person is free to get plate renewal from the Province.

What will 407 ETR do next?

407 ETR must and is abiding by the SCC decision. They will set up a protocol whereby those who have already been discharged from bankruptcy and have been denied a plate renewal will be able to prove they have been discharged, get the 407 ETR debt, including penalty and interest, reversed, and get a plate renewal.

Those who are still in the middle of their bankruptcy proceedings and not yet discharged will be able to apply to have a plate renewal, once they are discharged from bankruptcy and prove it to 407 ETR.

Interestingly enough, there was no evidence whatsoever in any of the Court cases, including this one before the SCC, as to the 407 ETR’s right to deny anyone credit. When you get your transponder, the 407 ETR is actually extending credit to you, in the form of use of the toll highway in return for the toll charges they expect you to pay. It is no different from the bank loaning you money, and expecting you to repay it in full, with interest.

Will 407 ETR deny extending credit to discharged bankrupts? Will they only issue a new transponder to discharged bankrupts who give them a large cash deposit so that use of the 407 ETR will only be on a “cash and carry” basis? We don’t know, they have so far been silent on the issue, but it is still early in the game.

Do you need 407 etr debt settlement and a plan for your other debts too?

Instead of going deeper into debt seek help from a professional trustee, even if you’re not considering bankruptcy at this stage. A trustee in bankruptcy will evaluate your situation and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. With immediate action and the right plan, the Ira Smith Team can solve your financial problems Starting Over, Starting Now. We’re just a phone call away.

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# VIDEO – DIFFERENCE BETWEEN CONSUMER PROPOSAL AND BANKRUPTCY: LIST OF 5 DIFFERENCES TO KNOW ABOUT #

Difference between consumer proposal and bankruptcy

This short video explains the difference between a consumer proposal and 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.

5 things that make the difference between consumer proposal and bankruptcy

  1. In a bankruptcy, if your income goes up, the amount you have to pay to your Trustee may very well go up. In a consumer proposal, your payment is fixed.
  2. In a bankruptcy, you will lose your income tax refund, contributions to your RRSP in the last 12 months, RESP for your children and other assets. In a consumer proposal that is accepted by your creditors, you get to keep your assets.
  3. There is less reporting in a consumer proposal. You do not have to show proof of your income every month as long as you are keeping your consumer proposal payments current.
  4. In a bankruptcy, if there is opposition to your discharge from bankruptcy, then you must attend for a Court hearing.There is no Court process at the end of the administration or a discharge hearing in a consumer proposal.
  5. You stay in control of your assets and affairs in a consumer proposal that is accepted by your creditors and that you are performing.

These are the main things that create a difference between consumer proposal and bankruptcy.

If you have too much debt, call us now!

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.

So now that you know the 5 major items that makes up the difference between consumer proposal and bankruptcy and 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. Ira Smith Trustee & Receiver Inc. is a Vaughan (Toronto) bankruptcy trustee and consumer proposal administrator. 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.

difference between consumer proposal and bankruptcy

 

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COLLECTION AGENCIES NOT SO SECRET SOCIAL MEDIA TRICKS

debt, collection agencies, social media, social media sites, Facebook, Google Chrome, Marauder’s Map, InstagramDon’t say anything online that you wouldn’t want plastered on a billboard with your face on it.

Erin Bury

Collection agencies have internet access too

So true! Once something is out there in cyberspace you can’t get rid of it. There is no delete button. Therefore, it can be no surprise that collection agencies are using social media to track debtors. The amount of personal information that we give up on social media sites is shocking.

Collection agencies can read social media postings

Did you know that Facebook tracks the location of all of your messages? Facebook’s Messenger app uses location data. And, with a Google Chrome extension called Marauder’s Map, a person’s exact location is revealed if their location settings are enabled. Instagram also collects specific data about users’ locations based on where they post images.

It’s no wonder that collection agencies have realized the value of social media in tracking down debtors. “Normally, collectors use social media to locate people or see if there are any assets that might be collectable,” notes Joel Winston with the Federal Trade Commission.

Collection agencies look to see if your social media backs up your story

Before you go ahead and post information on any of the social media sites, stop and think first. Posting photos of your recent trip to Tahiti while you’re pleading poverty to the debt collector is never a good idea. Remember that every time you post an item on a social media site you’re giving up personal information.

What to do if collection agencies are hounding you

If you’re been chased by collection agencies you need professional help and you need it now. Contact Ira Smith Trustee & Receiver Inc. today. There are a variety of options we can discuss including a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy, if ultimately that’s the best course of action for you. Starting Over, Starting Now you can be on your way to living a debt free life.

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#VIDEO – CONSUMER PROPOSAL FAQS: SECRETS FOR FENDING OFF BANKRUPTCY #

Consumer proposal faqs

We have made this video to answer the Consumer Proposal FAQs that we are normally asked. This information will hopefully help you understand better how it can help you clear your debts and AVOID bankruptcy.

In addition to this video, you can also check out other blogs and vlogs we have written on Proposals:

The most asked FAQs

The most asked of the FAQs is – What are the advantages? The main ones are:

  • You keep all of your assets
  • Actions against you by unsecured creditors, such as wage garnishments will be stopped
  • Unlike informal debt settlement, the proposal process is a forum where all of your creditors must deal with your restructuring
  • You don’t have to declare bankruptcy

Too much debt? Get the help you need now!

We hope you enjoy this video about consumer proposal FAQs. Click on this link to find out more. You can also have many of your questions about personal bankruptcy answered by clicking on our Bankruptcy FAQs link.

Instead of going deeper into debt and just putting your head in the sand like an ostrich, heed the advice of your grey divorce support groups and contact us today. Seek the help from a professional trustee, even if you’re not considering bankruptcy at this stage.

A trustee in bankruptcy will evaluate your situation and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. With immediate action and the right plan, the Ira Smith Team can solve your financial problems Starting Over, Starting Now. We’re just a phone call away.

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THE THREE THINGS GREY DIVORCE SUPPORT GROUPS NEED TO DO

debt, gray divorce, gray vs grey, grey divorce, grey divorce support groups, grey divorcees, professional trustee, trustee in bankruptcy, bankruptcy alternative, credit counselling, debt consolidation, consumer proposal, bankruptcy, retirement, retirement savingsGrey divorce support groups need to show you the sticker shock!

According to Statistics Canada, “grey divorce” has been steadily growing among those 55 and over and “gray divorce” has been growing for Americans 50 and older. Regardless of the gray vs grey spelling, the issues are the same on both sides of the border.

Canadians are struggling with debt, even those that are married and have the advantage of two incomes. However, once you separate your finances from one another and create two independent lives and lifestyles, the sticker shock sets in.

Grey divorce support groups know this only too well from their experience of counselling many who have come down this path before you. Housing is the most expensive item to fund and maintain on your own; and all of the other expenses that were essentially shared, are now the financial burden of one instead of two.

Grey divorce support groups need to teach you what Investors Group has to say

According to Investors Group:

  • 80% of grey divorcees (people who divorced at the age of 50 or older), say they will delay retirement because they need to work longer than planned
  • 62% say their post-divorce savings and investments will no longer be adequate to fund their retirement
  • 54% of those who divorced at or past the age of 50 found it difficult to make financial decisions surrounding their divorce
  • 53% had to adjust their retirement plans
  • 47% will have to scale back on their anticipated retirement lifestyle
  • 26% no longer have enough retirement savings

Grey divorce support groups need you to understand your true income needs

As a result of grey divorce many Canadians are not only to delaying their retirement plans, they are falling into debt and dealing with it by accumulating more debt. This is a recipe for financial disaster.

Contact us today

Instead of going deeper into debt and just putting your head in the sand like an ostrich, heed the advice of your grey divorce support groups and contact us today. Seek the help from a professional trustee, even if you’re not considering bankruptcy at this stage. A trustee in bankruptcy will evaluate your situation and help you to arrive at the best possible solution for your problems, whether that solution is a bankruptcy alternative like credit counselling, debt consolidation or a consumer proposal or bankruptcy. With immediate action and the right plan the Ira Smith Team can solve your financial problems Starting Over, Starting Now. We’re just a phone call away.

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# VIDEO – FINANCIAL INFIDELITY HELP: USE THESE SECRET STRATEGIES TO SAVE YOUR MARRIAGE #

Financial infidelity meaning

Financial infidelity occurs when couples with joint finances lie to each other about money. For example, one partner may hide significant debts in a separate account while the other partner is unaware.

Couples need financial infidelity help

The media describes the topic of financial infidelity often. We have also written about financial infidelity help advice in the past:

Studies show for financial infidelity help

The noted UK publication, The Guardian, recently published its article “Financial infidelity: how to prevent money secrets from hurting a marriage”. In the article, they noted that:

  • in 2011, the National Endowment for Financial Education discovered that 31% of Americans who responded to a poll admitted lying to their partners about their finances
  • 67% of respondents said the secrets – when revealed – led to arguments, 42% said it damaged trust, and 16% said it even led to divorce
  • their updated survey in 2013 showed an increase from 31% to 33% of respondents

9 signs that financial infidelity help is required

Entrepreneur Magazine recently published an article titled “9 Signs of Financial Infidelity”. That article listed them as:

  • New spending patterns
  • Excessive shopping
  • Fat brokerage statements
  • Moodiness
  • Sudden changes in compensation
  • Recent purchases of art or antiques
  • Newly opened accounts
  • Signing documents without review
  • Lack of communication

We can provide financial infidelity help to get you out of debt

When it comes to marriage finances, honesty is the best policy. If you have committed financial infidelity or have been the victim of financial infidelity, you may be in serious financial jeopardy. Don’t wait until you are out of options. Contact a professional trustee as soon as possible. The Ira Smith team is a full service insolvency and financial restructuring practice serving companies and people throughout the Greater Toronto Area (GTA) facing financial crisis or bankruptcy that need a plan for Starting Over, Starting Now. We can help. Call today.

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Call a Trustee Now!