If you’ve ever felt ashamed or frustrated about your finances, you’re not alone. Many people struggle with money not because they’re careless, but because of deep-rooted beliefs. This is what we call a “money mindset.” Your mindset shapes how you earn, spend, save, and respond to debt. If you were taught to fear money or […]
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2025 Surplus Income Limits in Canada: What They Mean for Bankruptcy and Debt Relief
If you feel overwhelmed by debt, there is an important update for 2025. The Office of the Superintendent of Bankruptcy (OSB) has released new surplus income limits. These limits will affect how much you need to pay if you file for bankruptcy. Each year, these limits are adjusted to reflect changes in the cost of […]
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Understanding Bankruptcy Exemptions
Protecting Your Assets During Bankruptcy Bankruptcy can feel overwhelming, especially when it comes to concerns about losing assets. However, bankruptcy exemptions exist to protect essential belongings and ensure you maintain a reasonable standard of living. Developing an asset protection plan is critical for safeguarding essential belongings during financial hardships. In this guide, we’ll explore bankruptcy […]
Read MoreDebt and Mental Health: Understanding the Connection
How to Break the Cycle and Reclaim Financial Peace Debt can feel overwhelming not just financially, but emotionally and physically. If you’re struggling with debt you may also be experiencing financial anxiety, depression, and difficulty managing day-to-day responsibilities. For some, the stress of money problems makes it even harder to get help. We understand how […]
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How Does a Second Bankruptcy Work in Canada?
Filing for a second bankruptcy in Canada is allowed under the Bankruptcy and Insolvency Act, but the rules and timelines are different than the first time. If you’ve already gone through the bankruptcy process and are struggling with debt again, it’s important to understand how a second filing works, what it means for your financial […]
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Credit Card Types and What They Mean for Your Credit
Article Summary: How Credit Cards and Your Credit Score Are Connected Before Applying For a Credit Card Types of Credit Cards Credit Cards vs. Debit Cards FAQs About Credit Cards and Credit Scores Case Study: Rebuilding Credit with a Secured Card You’re balancing the responsibilities of homeownership, raising a family, and managing a demanding career. […]
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What Happens After a Debt Consultation?
Article Summary Recap: Your First Meeting with a Licensed Insolvency Trustee Step 1: Reviewing Debt Relief Options Step 2: Making Your Choice Step 3: Filing with the Office of the Superintendent of Bankruptcy Step 4: Attending Credit Counseling Sessions Step 5: Following the Terms of Your Debt Solution Bankruptcy Terms Outlined Consumer Proposal Terms Outlined […]
Read MoreQualifying for a Consumer Proposal
Article Summary Understanding Consumer Proposals Who Can File a Consumer Proposal? Eligibility Criteria for Filing a Consumer Proposal Considerations for Acceptance Steps to File a Consumer Proposal Real-World Case Studies for a Consumer Proposal Get Debt-Free with Campbell Saunders In today’s economic landscape, many Canadians find themselves grappling with financial challenges. For individuals seeking […]
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Understanding Surplus Income in Canadian Bankruptcy: What You Need to Know
If you are contemplating filing for personal bankruptcy in Canada, understanding the concept of surplus income is crucial. Surplus income determines the duration of your bankruptcy and the amount you must contribute to the bankruptcy estate. In this blog post, we will delve into what surplus income is, how it’s calculated, its impact on bankruptcy […]
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Navigating Bankruptcy in British Columbia: Understanding How Different Assets Are Treated
The bankruptcy process in Canada is regulated by federal legislation, the Bankruptcy and Insolvency Act. Provincial laws determine which assets are exempt from seizure by creditors. In British Columbia, it’s the Court Order Enforcement Act that we need to refer to. Some assets are protected as exempt from seizure by creditors, and this carries over […]
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