Thinking about buying a home? Getting approved for a mortgage in Canada requires thorough preparation, both mentally and financially. While exploring open houses and finding a realtor might feel like natural starting points, a key focus for prospective buyers should be securing mortgage approval. Qualifying for a mortgage is the most significant step in the…
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to eliminate most of their debts by liquidating non-exempt assets. It provides a fresh financial start for those overwhelmed by debt, though it comes with serious consequences. This chapter covers the definition of Chapter 7 bankruptcy, the process of filing, the potential long-term…
There are several significant advantages to a Consumer Proposal. One key benefit is that it provides a clear path to a fresh financial start, free from debt, while allowing you to keep most or all of your assets. This makes it a potentially more attractive option than both Bankruptcy and informal debt solutions. If you’re…
Nearly half of Canadians are just $200 away from being unable to cover their monthly financial commitments. In today’s economic climate, even a minor unexpected expense could lead to debt — leaving you to consider your next steps. If you’re in debt but want to protect certain assets and are concerned about the long-term financial…