A consumer proposal is a legal agreement between you and your creditors that allows you to settle your debts for less than you owe. However, not everyone is eligible.
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Different Debt Relief Options
Debt can be a major source of stress and anxiety, especially when it seems like there’s no way out. Fortunately, there are several debt relief options available to help individuals regain control of their finances. Below are some of the most common debt relief options.
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The Consequences of Unpaid Taxes
Failure to pay taxes can have significant consequences, not only for individuals but also for society at large. Below, we explore the consequences of unpaid taxes and the impact they have on individuals, businesses, and the economy.
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How a Business Proposal Can Help You Get Your Business Out of Debt
If you’re a business owner, you know that debt can quickly accumulate and become a serious problem for your company. If left unchecked, it can even lead to bankruptcy. However, there are solutions available to help you get your business out of debt, one of which is a business proposal.
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Voluntary Deposit: Is There A Better Option?
Debts can be a major financial burden that affects many individuals and families. A voluntary deposit is an option for those who are struggling to manage their debts. Below, you’ll find everything you need to know about voluntary deposits, their advantages and disadvantages, how they are calculated, and whether there are better debt-relief options available.
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The Ins and Outs of Bankruptcy
Dealing with financial problems can be a challenging and stressful experience. If you are struggling to pay your bills, it may be time to consider your options. One potential option for people in financial distress is bankruptcy.
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How Insolvency Affects Your Credit
In Quebec, insolvency is a legal process that allows individuals and businesses to eliminate their debts and start fresh. However, this process has a significant impact on your credit score and credit history. Understanding how insolvency affects your credit score and credit history is crucial if you are considering this option.
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Exploring Alternatives to Commercial Bankruptcy
Bankruptcy is a tough reality for many businesses. It can seem like the only way to address debt and other financial issues, but there are alternatives to consider. With careful planning and a thorough understanding of the available options, it is possible to explore alternatives to commercial bankruptcy and create a sound financial future for your business.
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Everything You Need to Know Before Filing for Commercial Bankruptcy
Filing for commercial bankruptcy is a difficult decision to make and one that should not be taken lightly. It can have long-term effects on your business, finances, and credit score, so it’s important to understand the process before making a decision.
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5 Signs You Need the Help of a Licensed Insolvency Trustee
If you’re struggling to make ends meet, it can be a sign that your financial situation has taken a turn for the worse. Financial difficulties can come with a cost; in fact, they often do. A Licensed Insolvency Trustee (LIT) offers invaluable assistance to people whose debts have gotten out of control and threaten to take them down with them. To discover whether you qualify for the services of a LIT, read these 5 signs that indicate you need the help of one.
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