If you have debt, you might wonder if it ever expires or simply disappears after a certain period of time. In Canada, the statute of limitations for debt plays a key role in determining how long creditors can legally pursue you for unpaid debts. This statute sets a time limit for creditors to take legal…
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,…
Navigating your financial recovery while securing essential services like transportation can be challenging, especially with a consumer proposal in place. However, obtaining a car loan with a consumer proposal is not only possible but can also be a key step in rebuilding your credit. Whether you’re still completing your proposal or have finalized it, understanding…
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…