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 Explained: What Each Card Means for Your Credit
Have you ever wondered which credit card to use when buying something big? Maybe you’re shopping for a new computer, going out to eat with friends, or your family needs a new car. With so many credit cards out there, it can feel confusing to pick the right one! Think of credit cards like different […]
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What Happens After a Debt Consultation?
You’ve had your first debt consultation, and now you’re left wondering what’s next? That meeting may have felt like a whirlwind of information, but this is where the real clarity begins. In this article, we’ll walk through exactly what happens after your consultation, so you can feel confident about the steps ahead. From stopping creditor […]
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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Comparing Debt Solutions in Canada: Bankruptcy, Consumer Proposal, and Debt Consolidation
Article Summary What Is Bankruptcy? What Is a Consumer Proposal? What Is Debt Consolidation? Differences Between Consumer Proposal and Bankruptcy Types of Debt Handled by Each Solution Impact on Credit Score and Credit Report Long-Term Financial Planning and Legal Protections Which Option Is Best for You? Frequently Asked Questions When faced with overwhelming debt, it’s […]
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