Borrowing money is something almost all of us must do at one time or another. Just because you’re borrowing money, doesn’t mean you shouldn’t be smart about it.

Will 2015 be the year you break the cycle of debt? If you’re tired of relying on credit and looking to secure a more comfortable financial future for yourself, read our seven step process to help you budget accurately and reduce your debt.

I have a vehicle, year 2000 value is about $8500.00, with no debt on it. What would happen to this given the vehicle exception is $5000.00? Thank you,

First, congratulate yourself! You took the difficult first step of filing for bankruptcy and have earned yourself a fresh start.

Relationship breakdown is one of the top contributors to financial hardship.

what happens to my house when filing for bankruptcy... there is still mortgage on it but not much equity...

I own my home with my wife, we are both are on title and we live there with our 2 young children. What will happen to my home,furniture,clothing,toys,computer etc. if I file for personal bankrupcy due to unpayable business loans?

If you go into bankruptcy or do a Proposal under the Bankruptcy and Insolvency Act, the creditor cannot attempt to collect from you, but they will attempt to collect the amount from the joint debtor, who in your case is your spouse.

What happens if you can no longer pay any debts? With both people on pensions can the creditors go after your pensions and can they put a lien on your house even though you don't own it, but you have good standing with your mortgage. What happens if you just quit paying?

Owing the government money can be very intimidating as it’s assumed the government has a limitless ability to collect the debt through any means necessary.