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As another income tax season rolls around, it is a good time to repeat one of our earlier blogs... Two areas in insolvency that are often misunderstood by the public are: Whether income tax debts are included in proposals and bankruptcy; What assets can be kept in a proposal and bankruptcy; Income tax debts are included with all the...
Read More »There are several good websites covering this, including BankruptcyCanada.com. They have a 5 step program that will enable you to rebuild your credit rating in the quickest possible time.
Read More »With the holidays fast approaching the time to share time with family and friends is just around the corner. Giving gifts, if you can afford it, is something that is on all of our minds. Just remember to stick to a budget, keep your receipts, avoid using credit, and get creative. Here are a couple links that will help give you the...
Read More »What’s the bottom line on Mortgage Brokers Do you have a mortgage? If so, it may be the right time to contact a Mortgage Broker to shop around for a lower interest rate. The service is free! We found a great article in the London Metro on October 18, 2011, by Lesley Scorgie, “What’s the Bottom Line on Mortgage Brokers?” A few key...
Read More »With school right around the corner this article may be of some interest to you; "Education is Worth Every Penny" by Lesley Scorgie. She explains how she managed to pay her way through a four year undergraduate degree and an MBA by working part time during the school year and working full time during the summer months. "The short...
Read More »An article that we found of interest was “Five reasons you can’t stick to your budget” by Erin Joyce, Investopedia.com found in July 11, 2011’s The Globe and Mail. 1. It’s Unrealistic- It’s easy in theory to decrease expenses on your budget, when the reality may be different.2. It Doesn’t Allow for Indulgences- Give yourself a “treat”...
Read More »Income tax debts are included in both Proposal and Bankruptcy Proceedings. In fact, income tax debt owing right up to the filing of the Proposal and Bankruptcy are included. For example, if someone is self-employed and files Bankruptcy March 31, 2011, then the Trustee files a "Pre-Bankruptcy" tax return for the period January 1, 2011...
Read More »Did you know? Two areas in insolvency that are often misunderstood by the public are: Whether income tax debts are included in proposals and bankruptcy; What assets can be kept in a proposal and bankruptcy; Income tax debts are included with all the other “unsecured” debt in a Proposal and Bankruptcy. Assets that have secured loans...
Read More »A recent article written by the Ministry of Consumer Services Ontario, brought some interesting things to light regarding collection agencies and their prohibited practices. Here are some of the more interesting regulations found from this article: Your Rights When Dealing With Collection Agencies The Collection Agencies Act prohibits...
Read More »You will find there are some big surprises in this article "What's affecting your credit score?": 1 - Having a “spur of the moment” credit card (e.g. the Bay) even if paid off and never used again can count against you – unless you cancel the card! Many people think that if they just cut up their cards that were paid in full, that would...
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