Understanding your Debt Options through Videos

Understanding your Debt Options through Videos

Debt Consolidation, Debt Management Plans, Consumer Proposals and Personal Bankruptcy – you may have heard about them before, but do you really understand how they work? In my Kitchener office, I have met with thousands of people from the Waterloo Region who have tried all of these solutions. What may work for one, may not…

More Bankruptcy in Kitchener FAQ’s

More Bankruptcy in Kitchener FAQ’s

The decision about whether or not to file a bankruptcy is a difficult one. To help with this decision we present below a list of frequently asked questions about bankruptcy from people who come to see us in our Kitchener office: Is bankruptcy in Kitchener my only option? If you have more debts than you…

Vehicles and Bankruptcy

Vehicles and Bankruptcy

One common question I receive when reviewing someone’s financial situation is “can I keep my car in a bankruptcy?” This is an important question for many people living in Kitchener-Waterloo as there are requirements for a vehicle due the geography of the area and the need to be able to get to and from work,…

How To Choose A Kitchener Waterloo Licensed Insolvency Trustee

How To Choose A Kitchener Waterloo Licensed Insolvency Trustee

A quick note about the term bankruptcy trustee. Recently the Superintendent of Bankruptcy changed the designation from bankruptcy trustee to licensed insolvency trustee. For a while you will see the terms used interchangeably however by April 2017, insolvency professionals licensed under the Bankruptcy & Insolvency Act will only be able to use the name Licensed…

Costs to Discuss Your Debt Options Shouldn’t Put You Further Behind

Costs to Discuss Your Debt Options Shouldn’t Put You Further Behind

Are you struggling with your debts and not sure where to turn for advice? This is a common issue right now for many people in Kitchener-Waterloo. No one really wants to speak to a bankruptcy trustee. Some people are going to places and paying large consulting fees (see Ontario Government warning). Some people after paying…

Is there a Difference between Bankruptcy Trustee’s in Kitchener Waterloo?

Is there a Difference between Bankruptcy Trustee’s in Kitchener Waterloo?

As a licensed insolvency trustee, I am a one of just over 1,000 trustees in all of Canada. A trustee has a unique role. We are like a referee in the bankruptcy process. We sit down with people who are experiencing financial hardship and assess their situation as well as review the options to deal with…

What Information Do I Need to Bring to my First Consultation?

What Information Do I Need to Bring to my First Consultation?

As one of the licensed insolvency trustees that meets with people in our Kitchener bankruptcy office, I am often asked: “what should I bring to my first meeting with the trustee”? Some people are worried that we will ask them to bring every scrap of paper in their house, and they are worried that they will not…

Should I get a Debt Consolidation Loan to Avoid Personal Bankruptcy in Kitchener?

Should I get a Debt Consolidation Loan to Avoid Personal Bankruptcy in Kitchener?

Every week I meet with people in our Kitchener personal bankruptcy office who have more debt than they can handle, and they are considering their options. One option many Kitchener residents consider is to get a debt consolidation loan to help manage their monthly payments. In theory, a debt consolidation loan makes a lot of…

What does a Meeting with a Licensed Insolvency Trustee mean?

What does a Meeting with a Licensed Insolvency Trustee mean?

Earlier this week in my Kitchener office, I met with Jane and Tom (for privacy reasons, I have changed their names). Jane and Tom were referred by a family member who had previously filed a bankruptcy with me. They were very nervous and concerned about meeting a licensed insolvency trustee (our title has changed recently…

Student Loans and Bankruptcy

Student Loans and Bankruptcy

There are many reasons why someone cannot pay their student loans, including periods of unemployment, the inability to obtain a job in the field of study thereby lowering projected income, and/or by not getting the benefit of the loans if studies go unfinished. In a bankruptcy or consumer proposal the treatment of student loans is a…