It is important to understand and plan for the possibility of surplus income payments in bankruptcy. Before filing for bankruptcy, ask your Licensed Insolvency trustee to estimate your surplus income payments.
When your debt mounts to the point that you are no longer able to pay your bills, you may choose to file a consumer proposal rather than filing for bankruptcy.
Many people pay only the minimum balance on their credit cards each month - and some of them are continuing to rack up significant credit card debt while they do it. Doing this keeps you in good standing with your credit card company, but it won't help you pay down your debt effectively.
If you've found yourself in a position of insolvency, you aren't alone, and a Licensed Insolvency Trustee at Crawford, Smith and Swallow can help.
Do your Valentine's Day plans include a proposal? It's important to start out on the right foot: an honest conversation about your finances and how you'll handle them as a married couple can help you deal with any existing or future debt before it becomes an issue.
Although the holidays are an amazing time of family togetherness, cozy gatherings, and nostalgic memories, high interest rates and steep spending can make this time of year quite stressful.