RPPS vs RRSP

RPP vs. RRSP: Which is Better?

While both Registered Pension Plans (RPPs) and Registered Retirement Savings Plans (RRSPs) are valuable retirement savings options for Canadians, they differ in a few important ways. RPPs are employer-sponsored plans, while RRSPs are set up and managed by individuals. This distinction impacts how and when you can access your savings. When comparing RPP vs RRSP,…

Using RRSP to Pay Off Debt

When faced with mounting debt payments, pressure from debt collectors, or the burden of high-interest credit cards and loans, many Canadians contemplate whether they should consider using RRSP to pay off debt. While it may seem like a straightforward solution, it’s important to fully understand the immediate and long-term consequences of tapping into your retirement…

Pros and cons of Chapter 11 Bankruptcy

Chapter 11 Bankruptcy: Key Aspects, Benefits, and Drawbacks of Filing

Business owners and individuals burdened by debt may discover a fresh start through Chapter 11 bankruptcy. Often referred to as reorganization bankruptcy, Chapter 11 allows businesses to remain operational while the owner and creditors restructure the debts, enabling the business to regain profitability. However, maintaining a business’s operations isn’t the only reason to contemplate Chapter…