For people with minor or even moderate debt, the combination of a structured financial plan and a few temporary sacrifices can go a long way toward eliminating their burden.

At some point, everyone has succumbed to the impulse to buy a new gadget, a new pair of shoes or some other spur of the moment gift for themselves.

With the steadily increasing record levels of consumer debt amongst Canadians, as a Licensed Insolvency Trustee, I am surprised by the number of people who contact me without having ever obtained their own credit report.

After nearly a decade of historic lows, the Bank of Canada began increasing its key overnight interest rate in July 2017 in response to improving employment figures and a growing economy.

Regret is one of the most common refrains Licensed Insolvency Trustees hear when we talk to clients about their debt. They ask questions like, “how did I get into this mess?” Or, “why did I make that decision?”

Every parent knows just how busy – dare I say hectic – family life can be.

The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.

If you want to leave a legacy when you pass away, defeat debt before you retire. Otherwise all you leave may be paperwork and memories.

You've done everything you can to provide a good life for your family. You've worked hard to put a roof over their head, food on the table, clothing on their backs — to make sure they'll never want for anything.

YES! Of course you can still buy things after you file for bankruptcy; in fact, one of the most attractive benefits of a bankruptcy is that you are free from all of the unsecured debt payments you were previously making and as a result; you will likely have more discretionary spending money compared to before your bankruptcy.