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.
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Measuring 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.
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CEBA 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.
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Impossible 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.
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Turning 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.
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Navigating 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.
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Equifax 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.
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The 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.
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Navigating Financial Challenges with Loved Ones
The impact of insolvency goes beyond the numbers on a balance sheet. Money matters, and when financial challenges arise, they often strain personal relationships. From open communication to shared decision-making and seeking expert advice, this post aims to provide actionable insights for those undergoing these challenging financial situations.
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Insolvency and Retirement: Planning for Financial Stability in Your Golden Years
Retirement is a well-deserved phase of life, a time when you can relax, pursue your passions, and enjoy the fruits of your labor. However, achieving financial stability during your golden years can be challenging, especially if you’re facing insolvency.
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