I haven't filed taxes in ten years. Don't even have all the paper work. Owe about $50000 to the government and about $6000 in other debts. Just need to know where to start. Child support is 1305 and currently on unemployement

If you're struggling under the burden of financial difficulties and find it difficult to manage the cost of day-to-day expenses let alone keep on top of your debt obligations, the one thing for sure is that you are not alone.

Debt that you owe and repay to your creditors consists of two parts. The first part is the money you originally borrowed. The other part is the interest (and sometimes fees).

I've been doing insolvency work for a very long time, so I remember when interest rates were much higher than they were today. In fact, I recall back in the 1980s when mortgage interest rates were over 20% in some cases (no, that is not a typo).

The provincial average of total debt in the province of Ontario has nearly tripled. Many consumers are taking advantage of incredibly low interest rates, which can be a dangerous game to play in the event of major life changes such as job losses or illness.

In this tough economic climate, it's difficult to make planning and budgeting for the future a priority. While millennials may still feel like the 'younger' generation, in truth, they are actually beginning to move into management and executive positions as baby boomers begin to phase out of their careers and into retirement.

Over the past several years, the debt settlement industry in Ontario has received a significant amount of criticism, much of it highly deserved.

After a lifetime of hard work, Canadians entering their 'golden years' deserve all of the freedom one would imagine retirement has to offer. Unfortunately, in today's economic climate, this is not always the case.

Many individuals wait too long to seek assistance when they are facing unmanageable debt problems. By the time they reach out to a Licensed Trustee for a consultation, they are already in a debt crisis and bankruptcy is their only way out.

The Office of the Superintendent of Bankruptcy in Canada (OSB) is a special operating agency of Industry Canada that protects the integrity of the bankruptcy and insolvency system for the benefit of investors, lenders, consumers and the public.