Monthly Archives: July 2014

It’s Critical to Complete Your Bankruptcy and Get your Discharge

 28 Jul 2014
no more debt means obtaining bankruptcy discharge

If you want your debts to be eliminated you need to keep your eye on the goal. That goal is obtaining your bankruptcy discharge. To get that discharge, and have no more debts at the end, you need to complete the process — all of the process. I can’t stress the importance…

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Declaring Bankruptcy Doesn’t Mean You Can’t Purchase A Home

 21 Jul 2014
declaring bankruptcy house

It is a popular misconception that if you go bankrupt you will never again be able to purchase a home. The reason for this misconception is that a bankruptcy has a negative impact on your credit report, and therefore with “bad” credit you won’t be able to qualify for a…

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Secured Debts Vs Unsecured Debts in Bankruptcy in Canada

 14 Jul 2014
treatment of secured and unsecured debt in bankruptcy in Canada

What is the difference between secured debts and unsecured debts when you declare bankruptcy in Canada? Bankruptcy is a chance to start over, and while it does eliminate most debts, it does not deal with them all. One of the biggest distinctions when filing bankruptcy is whether or not your debt is…

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New Vancity Loan. It’s Fast, but Is It Fair?

 08 Jul 2014

To put it mildly, I’m not a big fan of payday loans.  They carry a very high interest rate, and since you are required to pay them back with your next paycheque they often lead to an endless cycle of obtaining a new payday loan to repay the one you…

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Does A Bankruptcy Trustee Tell Me How To Spend My Money?

 07 Jul 2014
bankruptcy trustee

I recently meet with an individual considering personal bankruptcy who was under the impression that as a bankruptcy trustee I would tell them how they could spend their money. I did a double take and told her, “No. No-one has the right to tell you how to manage your money.”  I assumed she…

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