Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. These articles help Canadians take control of their money with confidence.
Does the Canada Revenue Agency (CRA) Know About All My Bank Accounts?
The short answer is no, the CRA does not automatically know how many bank accounts you have or see the transactions flowing through them.
10 Unexpected Effects of Doing a Consumer Proposal in Canada
Unlike bankruptcy, a consumer proposal does not transfer control of your assets to a trustee. You keep your home, your vehicle, and all your investment accounts.
10 Surprising Items You Can Legally Keep Thanks to Canadian Bankruptcy Exemptions
Arguably the biggest misconception about Canadian bankruptcy is that you will automatically lose your car.
The Pros & Cons Of Declaring Bankruptcy in Canada
“I think filing for bankruptcy can prevent heart attacks, suicide, divorce, and job loss because people can now focus on life, as opposed to fighting with creditors they cannot afford to pay,” argues Jeremy Kroll, Licensed Insolvency Trustee and Partner at Baigel Corp.
Consumer Proposal VS Bankruptcy: How To Pick The Best Option Based On Your Situation
A consumer proposal tends to serve you better if you have a steady income and assets you want to protect.
The Truth About Government Debt Relief Programs in Canada
Two formal debt relief mechanisms fall under the Bankruptcy and Insolvency Act: the consumer proposal and the bankruptcy.
When Do Debt Collectors Take You to Court in Canada and How to Stop Them
If a collector contacts you about a debt that is past the limitation period, avoid engaging with them, since they lost the legal right to enforce repayment through the courts.