In case you haven’t heard, Canadian household debt-to-income levels have reached the record levels seen in the U.S. prior to the housing collapse.

Some comments on the changes that will occur in Consumer Proposals and Division One proposals as of September 18 2009

Several significant changes to the Act come into effect in September affecting the amount bankrupts may have to pay as surplus income and/ or the amount of time they have to remain in bankruptcy.

Canada Mortgage and Housing Corp (CMHC) announced that it is cutting some types of mortgages that they will insure.

Will the changes affect prior bankruptcies? Will I be able to go back to court after seven years, even though my bankruptcy was in 2004? TY

Does a claim by Saskatchewan Government Insurance survive a bankruptcy?

Many people struggling from debt issues are afraid to answer the phone or open their mail. As debt issues get worse, the contact with creditors can become more frequent and more demanding.

Are criminal fines written off in a bankruptcy or proposal?

Can I get help with 1 credit card that is over-limit?

The Financial Consumer Agency of Canada released an article warning the public against some practices within the field of debt reduction. After reading the article, I thought it important to expand on the topic; specifically on how it relates to the field of insolvency, since the two areas are tied together.