Building an emergency fund provides a crucial safety net for unforeseen costs, offering peace of mind during challenging times. Exploring insurance options, such as health and disability coverage, can also provide essential financial protection in the event of illness or injury. Additionally, income replacement plans offer a lifeline for those unable to work due to medical issues, ensuring financial stability during recovery. Moreover, understanding...

Depending on your financial situation, options such as debt consolidation, negotiation with healthcare providers, Bankruptcy, or a Consumer Proposal may be viable solutions. A consultation with a Licensed Insolvency Trustee can help assess your options and determine the best path forward.

Building an emergency fund is essential for financial security. Start by setting a goal for your emergency fund, such as three to six months' worth of living expenses. Cut unnecessary expenses and redirect the savings into your emergency fund. Consider automating contributions to your emergency fund to make saving easier and more consistent. Read more tips on creating an emergency fund here .

Child support and alimony payments are not eliminated when you file for Bankruptcy. If you are behind on payments, Bankruptcy or a Consumer Proposal can reduce payments on unsecured debt and potentially other monthly bills, so you have more money available for child support and alimony payments. If you are receiving child support or alimony and your former partner files for Bankruptcy, you are still entitled to the money owed to you. Talk to the...