Your credit record contains information reported by various lenders — including credit card issuers, banks and mobile phone companies — detailing when you opened your account, how much you owe, your payment history, if and how frequently you exceed your credit limit and whether your accounts have ever lapsed into collections.

People often worry meeting with a Licensed Insolvency Trustee means they’ll be forced into Bankruptcy or a Consumer Proposal and not offered any other options.

One of the first questions I typically ask my clients is this: “When was the last time you drew up a budget?”

It’s not very often a bankruptcy is advertised in the newspaper – in fact, only about five percent of bankruptcies filed are ever listed in the paper.

The Bank of Canada has raised interest rates five times since July 2017 after going nearly a decade without an increase.

One of the worst parts of having debt problems is dealing with the multiple phone calls from creditors and collection agencies looking for payment.

Despite the Bank of Canada stating it will keep interest rates stable until next year, nearly half (48%) of British Columbians say they are more concerned about their ability to repay debts than they used to be.

The number of consumer insolvencies per thousand residents in Calgary, aged 18 years or above, hit 4.3 in 2018 – the highest level since 1997 when it sat at 4.8.

Financial troubles rarely pop out of nowhere. If you look carefully, you’ll often see warning signs of danger ahead.

Part of deciding whether a Bankruptcy or Consumer Proposal is right for you is knowing what kinds of debts can be included and will be discharged when the process is successfully completed.