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IDENTITY THEFT: ARE YOU AT RISK?

identity theft, Canadian Anti-Fraud Centre, Home Depot, Target, Canada Revenue Agency, malware, spyware, viruses, phishing, spear fishing, hackingIdentity theft is a hot topic these days and whether you realize it or not, you are at risk. Identify theft is on the rise and it can happen to anyone.

What is Identity Theft? According to the Canadian Anti-Fraud Centre, identity theft refers to the preparatory stage of acquiring and collecting someone else’s personal information for criminal purposes. As of January 8, 2010, Senate Bill S-4 became law, making it illegal to possess another person’s identity information for criminal purposes.

Who is at risk? In short, everyone is at risk. Identity theft is a threat to anyone who has a credit card, owns real estate, pays taxes, owns insurance… In the last year alone major retailers have had their payment systems hacked, compromising the personal information of millions of customers. Home Depot had 56 million cards compromised; Target had 40 million. Global News reported that there have been nearly 4,000 privacy and data breaches in federal departments over the last year or so. The worst offender was the Canada Revenue Agency.

How do thieves acquire someone else’s personal information? In addition to widespread data breaches, the classic examples of identity theft techniques are rummaging through people’s garbage and/or stealing their mail in order to obtain bank statements, credit card statements, driver’s license or healthcare card renewals – any piece of mail with personal information. Of course the Internet has allowed for much more sophisticated and elaborate forms of identity theft – malware, spyware, viruses, phishing, spear fishing and hacking are effective ways to collect personal information.

If you’re a victim of identity theft then no doubt you’re in the midst of some serious financial issues right now that require the help of a professional trustee. Contact the Ira Smith team as soon as possible. Financial problems can be solved given immediate action and the right plan. Starting Over, Starting Now you can be on the road to getting your old life back.

Watch for our next blog when we’ll be discussing Identity Theft – How to Recognize if You’re a Victim.

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Brandon Blog Post

TORONTO BANKRUPTCY TRUSTEES: 1 IN 5 ONTARIO RESIDENTS MAY BE INSOLVENT

Target liquidation program, Toronto bankruptcy trustees, bankruptcy alternatives, bankruptcy questions, credit card debt, living paycheque to paycheque, bankruptcy, Target, housing bubble, credit card debt, financial plan, debt, starting over starting nowToronto bankruptcy trustees believe that 1 in 5 Ontario residents may be insolvent (unable to pay their debts when they are due), as astonishing as this seems. Sadly it seems that many Ontarians who have been living paycheque to paycheque and on the edge of a financial crisis, have now fallen off the edge.

According to a recent Ipsos Reid poll:

  • Almost one in five Ontario residents owe more than they own or earn, making them technically insolvent and at risk of bankruptcy.
  • Eastern Canadians led the country in owing more than they own, with 28% in Quebec and 24% in Atlantic Canada.
  • Residents in Alberta, Saskatchewan and Manitoba tied at a 23%.
  • Ontarians at 16% and British Columbians are at 14%.

It’s no surprise that Toronto bankruptcy trustees are being asked about bankruptcy alternatives and bankruptcy questions by so many people stressed about money. The Canadian dollar is volatile, retailers like Target are closing their doors, the Target liquidation program is ongoing and many are worried about a housing bubble.

Toronto bankruptcy trustees are also aware of a Global News poll which reported that:

  • 45% of Canadians say that their income, or keeping a steady income, causes them stress.
  • 40% are stressed about saving for retirement.
  • 40% report that saving for big-ticket items, like a car or a down payment for a home is a cause of stress.
  • 33% say that paying bills on time and credit card debt is a cause of stress.
  • 33% are stressed about mortgage or rent payment.
  • 25% are stressed about caring for their dependents like aging parents or kids.

Toronto bankruptcy trustees summary

Times are tough for many people. If you’re teetering on the edge of financial disaster or have already reached the critical point, it’s time to turn to Toronto bankruptcy trustees for professional help. Contact Ira Smith Trustee & Receiver Inc. as soon as possible. With sound advice and a solid financial plan Starting Over, Starting Now you’ll be well on your way to a debt free life.

Call a Trustee Now!