Pamela Michaels Fay, businessWrites

Personal Finance

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Bankruptcy Truro | Consumer Proposal Truro, Nova Scotia Offices

Truro is a small town with a big heart, in addition to the new library, revamped Civic Square, and a revitalized downtown. Everything’s great in Truro. Except that you’re in debt and you’re not sure what to do next. You thought you had it all under control. Then suddenly it wasn’t. Now you’re bothered by collection calls, maxed-out credit cards, or even worse. Maybe you’re not even sure exactly how much you owe. It’s been easy to pretend that everything is fine. But, the bills aren’t going to s
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Small And Corporate Business Bankruptcy In Canada - How They Work

Is your business crippled by insurmountable debt? Are you considering filing a business Bankruptcy? Before you make any decisions, here’s a look at how it works, and the steps involved. Bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act. You can read the act, if you prefer, but we’ve summarized much of the important information here. Below, we outline some helpful terms, followed by a complete discussion of business Bankruptcy: • Company Insolvency: A company that is unable t
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What to Do If You Can’t Pay Your Mortgage? Here Are Your Options

Covid-19 has left your finances in shambles and your bank account depleted. And you may wonder what to do if you can’t pay your mortgage. Whether you are furloughed, out of a job or sidelined due to the coronavirus, your mortgage comes due every month. Normally, you count on a regular paycheck and you can cover your bills. But these are not normal times. Don’t let your mortgage payment fall behind before you take action. The first thing you should do is review your mortgage documentation. Some
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How to Solve Your Personal Financial Problems with these 5 Expert Tips

There are plenty of good, common-sense recommendations for ways to solve your personal financial problems. Great advice, to be certain. However, there are also long-standing recommendations to quit smoking. This advice is even backed with tons of research and evidence. Yet, there are still nearly 6 million Canadians who continue the bad habit. It’s the same with money. Even with sufficient advice and information on ways to solve your personal financial problems, it can be challenging to get out
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Smart Money Planning: 5 Debt Warning Signs to Watch for

Turns out you don’t need the repo man to haul off your car to be in debt trouble. You usually pay your bills right before the due date. You have just enough available balance to cover the unexpected. You haven’t heard from a bill collector in ages, if ever. No problem, right? Well, if you aren’t paying close attention to how much you owe, you may, indeed, be walking on the ragged edge. What are some of the warning signs of a debt problem? Here’s a list of five. Even one of these warrants a bett
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8 Tips to Take Charge of Your Finances during Financial Literacy Month

You know how the budget game is played. It’s income minus expenses in the quest for more money at month-end. Yet, despite your many attempts at following a budget, you sometimes feel like throwing in the towel. You pledge that this time you will take charge of your finances. Great timing. It’s Financial Literacy Month in Canada. And you’re in good company with scores of other Canadians who know there’s no better time to work on that budget. Financial experts advise tracking discretionary expen
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Learn These 5 Tips To Protect Yourself from Financial Fraud

Your information is everywhere. So how do you protect yourself from financial fraud? One of the most common types of financial fraud is identity theft. This occurs when someone steals your personal identifying information to access your credit card or bank accounts. Thieves might also use your identity to commit a crime, obtain medical benefits, apply for a job, get a credit card, or even buy a house or car. This is the type of financial fraud that can drive you to bankruptcy. Identity theft is
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Should You Use Your Home Equity Line Of Credit (HELOC) To Avoid Bankruptcy?

If you are overwhelmed with credit card debt, you may have considered a home equity line of credit (HELOC). Financial experts view home equity as an untapped resource. As a homeowner, when you have more bills than you can handle, there are several options, including HELOC, available to you. But, before you take action, you’ll want to have all the facts. Home equity, of course, is the difference between the value of your home and what you owe. A HELOC allows you to borrow that money with a promi
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Can A Division 1 Proposal Help My Business? | Corporate Proposal In Ontario

Bankruptcy is not the only option when your business is in financial trouble. A Division 1 Proposal can help you avoid Bankruptcy and get your business back on track. You’re certainly not ready to walk away. But it’s becoming clear that the financial hardship will not resolve on its own. You need a little help. If this is the situation for your company, it may be time to take action. Much like a Consumer Proposal, this option for businesses allows you to pay a fraction of your unsecured debt.
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Facing Bankruptcy or Mortgage Foreclosure Ontario Mortgage Foreclosure

If you’re behind on your mortgage payments, you may be wondering whether filing Bankruptcy can help save your home. Foreclosure is an undesirable outcome for both you and the lender. What can you do? Can Bankruptcy hurt you or help you? Here’s what you need to know about Ontario mortgage foreclosure and Bankruptcy in Canada. Power of Sale, Foreclosure, Bankruptcy: What Does It All Mean? Before you make any decisions you’ll need to understand what each of these legal processes entails and how t
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Can Bill Collectors Still Call During Covid-19? Yes They Can.

During the pandemic, it seems as though Canadians have been given a pass on monthly bill payments. So can bill collectors still call during Covid-19? The government, as well as the banks and lenders, are, thankfully, offering all types of relief. Mortgage payments have been deferred. There is a moratorium on evictions. There are funds to handle utility bill emergencies. And all you have to do to skip your credit card payment is call your issuer and follow a few voice prompts. Can Bill Collecto