Is liquidating your assets the best option for you if you are struggling to pay down your debts? What is the better option – bankruptcy or a proposal? How long does it take to complete a bankruptcy? We have the answers you are looking for.
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What is a Personal Guarantee and How Does it Affect Debt?
Navigating the world of finance can often feel like wondering in a maze, especially when it comes to understanding concepts like personal guarantees. So, what is a personal guarantee exactly? Simply put, a personal guarantee is a promise made by an individual—often a...
The Power of Credit: 13 Reasons to Maintain a Good Credit Score
In today's financial landscape, maintaining a good credit score is not just beneficial—it's essential. A strong credit score can be your key to unlocking numerous financial opportunities, from getting lower interest rates on loans to gaining access to premium credit...
New vs. Pre-Owned Cars: Decoding the Best Choice for Your Next Ride
Purchasing a vehicle will be one of your biggest expenses, especially if you’re going the financing route. An auto loan is a long-term commitment and will impact your finances and budgeting for years, so it’s very important to make the right choice that fits your...
How To Correct Errors On Your Credit Report
Did you know that you can get your credit report for free? There are so many things that people don’t know about their credit reports, but don’t worry because we are here to help educate you. In this article, we’ll be going through why errors on your credit report...
What Assets are Exempt From Bankruptcy in Alberta?
Did you know that you will not lose all your assets if you file for Bankruptcy or a Consumer Proposal? A Bankruptcy or Proposal to creditors gives you protection from your creditors and allows you to make a fresh start. Bankruptcy exemptions are a topic that not many...
How to Rebuild Your Credit After a Consumer Proposal in Canada
Filing for a consumer proposal is an effective way for many Canadians to get out of debt but it can affect your credit score. Your credit rating will be negatively impacted or bruised by filing of the consumer proposal but just like a real bruise, it can heal with the...
5 Tips to Handle Debt Stress
Stress is known to be bad for your health and one common cause of stress can be personal money management. Struggling to pay your bills can lead to mental health and physical issues including depression, anxiety, sleep problems, heart disease, and high blood pressure,...
Consumer Debt Trends in Canada and What You Should Do About Them
Most people know what debt is, but not everyone understands what kind of debt they have and if this debt is helpful or a hindrance to their financial goals. Frederick & Company is here to give you the knowledge and advice you need to effectively manage your debts...
Is a consumer proposal a good idea?
If you've ever done some research on debt-relief options within Canada, it’s likely you’ve come across the term “consumer proposal” at some point. This article will help you start thinking about the considerations to make before further exploring this option. What is...
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Consumer Proposals
Can I Keep My Home in a Consumer Proposal?
Our team at Frederick & Company Ltd. is dedicated to helping people address their debt issues by employing programs based on their individual situations. One question we hear a lot from our clients when implementing these programs is: “Will I lose my home?” Read...
Who is Eligible for A Consumer Proposal in Alberta?
In Alberta, a consumer proposal is a legally binding agreement that is negotiated between a Licensed Insolvency Trustee and your creditors (the institutions you owe money to). It’s an alternative to bankruptcy that allows you to maintain control of your assets such...
How A Consumer Proposal Can Improve your Credit
A consumer proposal is a legal process where a Licensed Insolvency Trustee works with you to produce a “proposal" -- an offer to pay your creditors a percentage of what you owe to them or to extend the time to pay off the debts, or both. The best way to find out if a...
Bankruptcy vs Consumer Proposal
When deciding to file either one of these insolvency options, it is important that you are aware of the differences between them so you can make the best decision for your situation. Choosing the wrong option can have lasting consequences. While both bankruptcies and...
Consumer Proposals and Informal Proposals – Do You Know What You Are Signing?
Sorting through the many debt consolidation and restructuring options available to Canadians can be a real challenge. Stress-levels are high, money is tight and your hard-earned dollars should go to the program that will best help free you from debt. So how do you know which program will provide the relief that you need?
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Debt Management
Division I Proposals and Consumer Proposals: What’s the Difference
When you are facing financial hardship, there are options to help you tackle your debt and work toward financial freedom. A Licensed Insolvency Trustee (LIT) can offer various solutions, including division I and division II Proposals. A consumer proposal and a...
Getting Rid of Income Tax Debt
Falling behind with Canada Revenue Agency ("CRA") can be daunting. If you have become used to living off your gross - pre-tax - income it can be a major adjust to reduce your take-home income and start accounting for the income taxes you should have been paying all...
When To Get Help With Your Debt
Do you feel like you’re living to pay down debt? Do the interest costs make it feel like you’ll never pay it off? When you’ve reached this point, it can be difficult to empower yourself to find the best solution that suits your unique financial needs. Fortunately,...
I’m Worried About My Debts – What Are My Options?
Whether you owe a lot or a little, having any amount of debt can be worrying. Thankfully, there are always options for managing your debt. If you owe large amounts, there are programs available to help you pay off your debt and begin to rebuild your credit. If you owe...
8 Signs It’s Time to Get Help For Your Debt
There’s nothing wrong with having debt. In fact, having well-controlled and healthy debt can do wonders for your credit score! However, there’s no doubt that debt can be hard to manage and you may not even know you are in a tight spot until it’s too late. Before your...
Boiling Frog Phenomenon and Debts: Do you Feel Like a Frog?
Are you a feeling like a frog? There is a story of a frog in boiling water. If the frog was placed in boiling water it would jump out immediately, recognizing the danger. But if a frog is placed into cool water it is comfortable and if the water increases in...
The Five Biggest Mistakes That Will Keep You Struggling With Debt
When your budget gets squeezed by all your obligations and you have more month left than money it can be a really tight spot to be in. Some of the typical strategies, rather than helping you, can lead to even bigger problems in the future. Here are the Five Biggest Mistakes that will keep you struggling with debt and how you can avoid them forever.
How to Get Out of Debt
Understanding Student Loans – Part 1: The Basics
Are you experience financial troubles or are you simply be curious about how student loans work? Understanding the ins and outs of student lending is a very important part of borrowing and repayment, here are the basics of student lending in Canada.
Consumer Proposals and Informal Proposals – Do You Know What You Are Signing?
Sorting through the many debt consolidation and restructuring options available to Canadians can be a real challenge. Stress-levels are high, money is tight and your hard-earned dollars should go to the program that will best help free you from debt. So how do you know which program will provide the relief that you need?
Bankruptcy vs Proposal: Protecting your assets
Bankruptcy vs Consumer Proposal: Protecting Your Assets This is our second article in our series comparing bankruptcy and proposals discussing some of the differences between bankruptcies and proposals. While both proceedings offer you protection from your creditors...
Bankruptcy vs. Proposal: How long will it take?
Bankruptcy vs. Consumer Proposal: How long will it take? This a first of a series of articles on comparisons between bankruptcy and proposal. Sometimes it can appear that bankruptcy would much quicker than a proposal but take a look at this article - you will see...
Why liquidating your assets could mean more than liquidating your retirement
Why liquidating your assets could mean more than liquidating your retirement I help people who are in financial difficulty know their options and how to best move forward. The people who come to me for help have usually faced some kind of unforeseen circumstance that...
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