The Wage Earner Protection Program (WEPP) is a federal program administered by Service Canada with the aim of assisting workers whose employer is bankrupt or subject to receivership.
Read moreCanadian Business Landscape: A Snapshot of Q4 2023
In the fourth quarter of 2023, Canada’s real gross domestic product (GDP) remained relatively stable for the second consecutive month in August. Despite this, inflationary pressures persisted, registering a 3.1% year-over-year increase in October. Employment exhibited minimal change, but the unemployment rate rose to 5.7%, marking the fourth increase in six months.
Read moreUnderstanding Debt Ratio: A Crucial Metric
Your debt ratio, also referred to as the debt-to-income ratio, is a critical measure reflecting the percentage of your income allocated to servicing debts. Preserving a robust financial profile involves steering clear of these 6 common pitfalls that can jeopardize this ratio.
Read moreMeasuring Debt: Beyond the Debt-to-Income Ratio
People who come to us for consultation often question the severity of their indebtedness. Are they worrying unnecessarily, or are they truly on the brink? We explore here the factors involved in this assessment.
Read moreCEBA Repayment: What Are My Options?
In response to the 2020 pandemic, the Canadian government set up the Canadian Emergency Business Account (CEBA) as a financial lifeline for businesses struggling with the crisis. Over 900,000 Canadian companies benefited from this interest-free support.
Read moreImpossible to Lose Everything in Bankruptcy
When it comes to bankruptcy and consumer proposals, people are often afraid of losing everything. But is this fear justified? Let’s take a look at Stéphanie Auclair, a member of our front-line team, renowned for her empathetic approach to debt-related stress.
Read moreTurning the Page: Starting a Debt-Free Chapter in the New Year
As the calendar flips to a new year, many of us find ourselves reflecting on the past and setting resolutions for the future. For some, a common resolution is to achieve financial freedom, and one significant aspect of this is freeing ourselves from the burden of debt.
Read moreNavigating the Debt Relief Landscape: How to Steer Clear of Scams
Coping with debt can be a daunting challenge, and unfortunately, there are exploitative individuals and organizations ready to exploit those in financial distress. A recent Consumer Alert from the Office of the Superintendent of Bankruptcy (OSB) and the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) sheds light on the prevalence of debt-relief scams targeting Canadians.
Read moreEquifax Canada Survey Highlights Canadians’ Financial Concerns
Equifax Canada recently conducted a consumer survey that sheds light on the financial worries of Canadians as we approach Financial Literacy Month in November. The survey reveals a range of concerns, including the ability to pay bills on time, manage debt, and protect personal financial data.
Read moreThe Road to Financial Recovery: Exploring Alternatives to Bankruptcy
Financial challenges can cast a long shadow, but the road to financial recovery is not a one-size-fits-all journey. When debts loom large and bankruptcy seems like an ominous option, exploring alternatives becomes imperative.
Read more