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Are you struggling to pay the bills on your debt? Filing a consumer proposal might be the best way to improve your finances, avoid bankruptcy and protect your assets. Here’s what you need to know.

Like most Canadians, you’ve probably incurred debt at some point in your life to cover a major expense. Did you know the Bank of Canada’s (BOC) aggressive interest rate hikes can impact the interest you pay on this debt?

If you’re struggling with credit card debt, car payments and a rising cost of living, the latest GST/HST Credit hike unveiled by the federal government could help. Here’s an overview of what you need to know.

In response to soaring inflation, the federal government is trying to help ease many Canadians’ financial burdens. In June 2022, Ottawa announced its Affordability Plan, designed to help renters, seniors over 75 and low-income Canadians manage rising living costs. Here’s an overview of the plan, plus more ways to overcome financial distress.

According to Credit Canada, the average consumer debt for a two-person household in this country is more than $41,000, excluding mortgages.

Divorce comes with financial challenges. Legal fees, housing, and alimony can quickly become a mountain of debt. One in five personal bankruptcies involves someone experiencing a marital breakup.

A consumer proposal is a method of getting out of large amounts of debt while avoiding personal bankruptcy and protecting your assets. However, the process takes time — often several years — before you can become debt-free. Here’s what to expect in the consumer proposal process.

Business bankruptcy numbers are increasing in Canada at an alarming rate, and the situation may soon worsen. Small and medium-sized businesses struggling to survive the pandemic now find themselves with waning government support, increased costs and supply chain problems.

If you’re in debt and contemplating bankruptcy, you may be desperate to seek assistance from the first person who offers to help. However, choosing a debt professional to help you secure financial relief isn’t a decision that should be taken lightly.

Renovating your home is an exciting prospect. However, it comes with a fair share of stressors, one of the biggest being the question of how you’re going to pay for it.

Most people who file for bankruptcy are honest individuals who have fallen upon hard times through divorce, unemployment, health problems or other stressful life events.

When used responsibly, a credit card can be a fantastic asset. For example, you can earn cashback and rewards with every use. Unfortunately, incorrectly using your credit card can lead to serious financial trouble. Here are five common mistakes to avoid.

Filing for personal bankruptcy can negatively affect your business, depending on how it’s structured. Before filing, you should be aware of all the possible implications that bankruptcy can have on you and your company.

At 71, Canadians must close their registered retirement savings plans (RRSPs). How much you have in your RRSP depends on how long you’ve been contributing. However, the average Canadian senior has around $130,000 saved. What do you do with all that money?

Just because you pay your rent on time doesn’t necessarily mean your credit score is as good as it could be. Some seemingly innocent financial behaviours can negatively affect your credit rating.

Opening a small business comes with risks. In fact, 50 per cent of small businesses fail in the first five years. In this case, a bank or other creditor could seize your personal assets and life savings if your business goes under. The good news is, there are ways to protect yourself if you’re a business owner.

Most Canadians know that payday loans are expensive and difficult to repay. Nevertheless, nearly 40 per cent of bankruptcy filings are by people stuck in multiple predatory loan contracts. Here’s what to look for so that you can avoid unfair loans and the debt problems that follow.

Creating a monthly budget when you don’t earn a regular paycheque is challenging. Nevertheless, the process is necessary if you want to ensure you have enough money available to get through the lean times. Here are some budgeting tips for freelancers, contractors and people who work on commission.

Are you married or in a common-law relationship? Do you make considerably more than your spouse? If so, you may want to consider making spousal RRSP contributions. Using a spousal RRSP has many financial benefits. Here are five things you need to know.

A business may require corporate restructuring for a variety of reasons. For example, the company may have financial problems and want to avoid corporate insolvency or seizure. Corporate restructuring is a lengthy process that involves difficult decisions but can ultimately save a company from going under. If your business is in trouble, here are five things you should know about corporate restructuring.