2025-07-11
How to prepare for your mortgage renewal in a high-rate environment
With rates still elevated, Canadians renewing mortgages face tough choices. Here’s how to prepare.
2014-06-30
That is a question that we get a lot as Trustees. Every situation is different but generally speaking, the answer is a three-step process:
Now what if you receive more money than the total amount that you owe your creditors? In this case, you have some options. One option is to give the money to your Trustee, as required by the law, and the Trustee will pay off your creditors in full. Any monies left over after paying all your debts and fees, would be given back to you.
Another more interesting option is to change or convert your bankruptcy to a consumer proposal. A consumer proposal is generally a new deal or arrangement that you make with your creditors to pay them a certain amount of money over a certain amount of time. If the creditors agree, then once you pay the terms of the proposal, then your bankruptcy would be annulled or cancelled and would no longer appear on your credit record as a bankruptcy.
The key is always to let your Trustee know what is going on during your bankruptcy. Your trustee will be able to guide you and explain to you what needs to be done, so that at the end of the day, you will get your discharge and be free of debt.
2025-07-11
With rates still elevated, Canadians renewing mortgages face tough choices. Here’s how to prepare.
2025-07-11
From camps to lawn care, summer costs can add up fast. Learn how to plan ahead and avoid seasonal surprises before they catch you off guard.
2025-07-08
Alternatives to Bankruptcy Bankruptcy
If you sit down with your parents, they might have a lot of valuable pieces of advice to help you save money. These five tips can help you build a budget.