The New Brunswick government is offering a one-time benefit of $100 to help low-income families with their home energy bills.
Category: Debt Help
The Up-Sell
You can’t make it through a drive-through without “do you want to upsize that?”, “can we add a muffin?”, “do you want to make a donation to….”; no, thank you, I just want the coffee I ordered!
The New Debtor Prison
We have found that a new form of debtor prison exists and this is due to excessive phone calls, emails, text messages and mail from creditors and collection agencies. These tactics can leave a person feeling afraid to answer their own phone and for some, it can cause undue stress and anxiety which can negatively affect their everyday life and ability to function at work.
2017 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.
Budgeting 101 – Part 5 of 5
Catastrophic expenses are those expenses that you have no reasonable expectation of knowing that they are coming and they have a material and negative impact on your finances to the extent that you cannot recover from the impact and, in fact, may not even be able to deal with the expense in the first place..
Why People Delay Getting Help With Their Debt
The longer an individual waits to get help with their finances, the harder it is to help as the number of options is greatly reduced. By the time most consumers come to us the only choices left are to file personal bankruptcy or consumer proposal. If you are starting to struggle financially reach out for professional assistance before things get beyond your control.
Budgeting 101 – Part 4 of 5
Lumpy expenses, as I call them, are expenses that we know (or should know) are coming down the track and will have to be incurred but only happen once in a lifetime or only once every couple, few, 5, 10 or 15 years (or so). Lumpy expenses can cause significant stress if you have not prepared for them.
Can I Go Bankrupt If My Debts Are The Result of Gambling?
For individuals who are problem gamblers we strongly recommend other counselling to help address the addiction. Personal bankruptcy may provide short-term financial relief but cannot resolve the issue of gambling unless it is combined with other treatment.
Will I Lose My Canada Child Benefit (CCB) If I File For Bankruptcy?
The short answer is no, you will not lose your Canada Child Benefit (CCB) if you decide to file personal bankruptcy. While your CCB will not be affected by bankruptcy, you are required to report your CCB when calculating and reporting your household income. These monthly reports will determine whether or not you have “surplus income”, which in turn will impact how long you are in bankruptcy and how much you will be required to pay.
Struggling With Debt Tackle Your Finances Head On
Hiding from the reality of your financial situation will do nothing to improve it. People have a pre-disposition to hide from the truth, particularly when the truth is ugly. Unfortunately, we see this every day.