Ian Martin

Licensed Insolvency Trustee

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…

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…

Kitchener-Waterloo Forum Examines Challenges Facing Low Income Households

Kitchener-Waterloo Forum Examines Challenges Facing Low Income Households

On May 27, I participated in a community forum in Kitchener-Waterloo aimed at increasing the financial inclusion for those who are the most financially vulnerable.  It was a gathering of representatives mostly from banks, credit unions and social agencies. As a licensed insolvency trustee, I interact on a daily basis with individuals who are financially…

What is a Bankruptcy Discharge?

What is a Bankruptcy Discharge?

When you meet with a licensed insolvency trustee to review your debt options, it is easy to be overwhelmed by the volume of information.  Any profession will have common words or expressions that are confusing to outsiders.  Insolvency practitioners are no different. For example, consider the word “discharge.”  It can mean many things depending on…

If Bankruptcy is the Right Answer How Do I File Bankruptcy in Kitchener?

If Bankruptcy is the Right Answer How Do I File Bankruptcy in Kitchener?

As a licensed insolvency trustee, my responsibility by law is to provide a thorough assessment of a person’s situation so that person can make the best choice about how to deal with his or her debts.  You might be surpised to hear that only 20% of the people who contact my firm ultimately file with us…

Am I Eligible to File Bankruptcy?

Am I Eligible to File Bankruptcy?

People find themselves in financial difficulty for a whole variety of reasons.  Some situations are short term and can be overcome without lasting stress or financial damage.  Other situations are more difficult to get past. Consider the financial changes that you would face if your marriage were to break down, if you were laid off…

Information about Filing Bankruptcy In Kitchener

Information about Filing Bankruptcy In Kitchener

When it comes to Kitchener bankruptcy information, here are the top ten things you need to know: The leading causes of bankruptcy in Kitchener are job loss resulting in reduced income, marriage separation or divorce, and medical problems leading to reduced income. The average person in Kitchener who declares bankruptcy is approximately 40 years old,…

Credit Card Interest Calculators Help Get You Out Of Credit Card Debt

Credit Card Interest Calculators Help Get You Out Of Credit Card Debt

Credit cards are supposed to be about meeting a short term cash need in a time of emergency.  I think we all know that is no longer reality, and hasn’t been for some time. A new Hoyes Michalos/Harris Decima poll sheds light on the current state of credit card debt.  Here are some of the key findings:…

Ontario Taking Steps to Regulate Debt Settlement Companies

Ontario Taking Steps to Regulate Debt Settlement Companies

The Ontario government announced last week that it will be instituting measures to curb the abusive practices of “debt settlement” companies.  This comes in response to repeated complaints from debt-laden consumers.  Alberta, Nova Scotia and Manitoba have already taken similar steps. The following is a summary of the steps being taken by the Ontario government: prohibit…

Transfer of Assets Prior to Bankruptcy

Transfer of Assets Prior to Bankruptcy

I want to talk about a specific part of what happens when you sit down with a trustee to discuss bankruptcy as an option for dealing with a difficult financial situation. There is a variety of questions that a trustee will ask anyone in understanding his or her predicament. Most people know that there is…