2010: Bad Bankruptcy Statistics Come in Threes

January 23, 2010

Bad bankruptcy statistics come in threes; 2010 will be a difficult year.

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Will bankruptcy in Guelph stop me from being sued?

November 10, 2009

Yes and no. We will deal with the yes part first: There is an automatic feature of bankruptcy law in Canada that puts in place something called a “Stay of Proceedings” immediately upon a person filing an assignment in bankruptcy or a consumer proposal. This isn’t something you have to ask the Court to do [...]

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“THE AMERICAN DREAM”

November 12, 2008

I read an article recently about the American Dream.  According to this report, 5% of people in the United States earning $25,000 a year or less felt that they were living the American Dream.  When the annual income went up to $60,000 a year the percentage rate only raised 1%, giving credibility to the reality [...]

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Beware of Debt Consultants

July 21, 2008

Last weekend I opened one of those coupon flyers – you know the ones, an envelope full of vouchers for different businesses – and there were two different companies advertising that they could eliminate your interest and reduce your debt to 30% if you call us today! The procedure they are describing is called a [...]

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RRSPs and Bankruptcy in Guelph

July 20, 2008

On July 7, 2008, the government brought into force some amendments to the Bankruptcy and Insolvency Act dealing with registered retirement savings plans (RRSPs). If you have RRSPs and are considering bankruptcy you need to know the following information:Prior to July 7, 2008, unless your RRSP was locked in or otherwise exempt, you lost it [...]

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