Filing a consumer proposal can have significant advantages compared to filing personal bankruptcy when you are feeling overwhelmed with debt.
Category: Blog
Financial Deep Cleaning Series – Part 3
It is important to stay on top of your finances and keep a finger on the pulse of your household budget.
March 2020 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 3.0% and consumer proposal filings were up 17.5% as compared to the 12-months ended March 31, 2020.
New Brunswick – Personal bankruptcies were down 2.3% and consumer proposal filings were up 14.9% as compared to the 12-months ended March 31, 2020.
Financial Deep Cleaning Series – Part 2
Deep cleaning your financial rooms can save you a lot of money, significantly reduce your monthly “burn rate” and significantly reduce your stress.
Financial Deep Cleaning Series – Part 1
Part 1 – Get Rid of the Junk. “Individually, these small things likely don’t disrupt your day-to-day financial well-being.”
COVID- 19 Canadian Emergency Wage Subsidy (CEWS)
CEWS will enable employers to re-hire workers previously laid off, to help prevent further job losses, and to better position businesses to resume normal operations following the COVID-19 crisis.
February 2020 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 1.7% and consumer proposal filings were up 19.0% as compared to the 12-months ended February 28, 2019.
New Brunswick – Personal bankruptcies were up 0.3% and consumer proposal filings were up 12.8% as compared to the 12-months ended February 28, 2019.
Covid-19: How will the Canada Emergency Response Benefit affect my Bankruptcy?
Support payments received as a result of COVID-19 measures are meant to be used by individuals and their families, not their creditors.
2020 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
How to Access Needed Money: Canada’s COVID-19 Economic Response Plan for Consumers
These are stressful times but no one should feel alone with these challenges.