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Expect the Unexpected: A Smart Plan for Your Finances, Debt, and Alternatives to Bankruptcy

‘Expect the unexpected’ might be a popular slogan, but it is also good advice for how you manage your personal finances. If interest rates were to rise, or a medical emergency happened or if you lost your job, are you prepared to handle it financially? Planning for the worst-case scenario ahead of time will leave you in a better position to handle it if it does happen. Moreover, if you have debt, being prepared can help you find alternatives to bankruptcy. Planning for the unexpected starts with knowing where your finances stand and building your financial literacy. Are you happy […]

FLM 2015 Week 4: Protect Against Fraud and Financial Abuse

407 ETR Debt in Bankruptcy: Supreme Court of Canada Ruling

Historically, if a person declared bankruptcy and had outstanding debts with the 407 ETR, the Province of Ontario would withhold the renewal of the bankrupt individual’s vehicle permit until those debts were paid. However, during a recent series of court battles, the issue of whether or not it is lawful for the 407 ETR to deny vehicle permit renewals once an individual has filed for bankruptcy was brought before the Supreme Court of Canada. On November 11, 2015 the Supreme Court ruled that the Province of Ontario’s treatment of 407 ETR debt is incompatible with the fresh start or financial rehabilitation purpose of the Bankruptcy and Insolvency Act. […]

FLM Week 3: Plan And Save For The Future (Infographic)

Our Federal Leaders Are Not Talking Household Debt, but You Should Be

The most engaging Canadian election in a long time has finished, but you probably did not hear much on the topic of household debt from any of the party leaders. Despite personal debt levels in this country reaching record levels the focus of the campaign attention was placed elsewhere, perhaps for more media attention grabbing headline topics. Even though the leaders are not talking about household debt, you should be. Legislation on a national level takes time to be implemented; any debt relief measures that our new government may develop to help will be slow. This is why it is […]