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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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...
Small Business Bankruptcy: Should You File?
Did you know that the total number of small business bankruptcies in Canada was 13.6% higher in May of 2022 than the previous year? It’s unfortunate that small businesses find themselves in this situation but when small businesses in Canada find themselves struggling...
How Are Writs Impacted by Bankruptcy or Consumer Proposal
One of the last options creditors will employ to recovery unpaid unsecured debts is a writ of enforcement which can put the equity in your assets in jeopardy. In this blog we explore writs and how they work, how they work in a bankruptcy and proposal, and the...
I Owe Unpaid Income Taxes – What can CRA do?
Owing taxes to the Canada Revenue Agency can be a stressful situation. Unlike regular creditors, the CRA has powerful tools they can use to ensure that your tax debt is paid. By understanding the possible tools CRA will use to collect taxes we hope you can avoid these...
How Consumer Proposal Calculators are Misleading: Do This Instead
If you have been doing research on consumer proposals, you’ll likely have encountered “consumer proposal calculators” that appear to have the ability to provide an estimate of the monthly cost of a consumer proposal payment. You’ll likely be asked to enter your total...
Licensed Insolvency Trustees: Ultimate Guide
Licensed Insolvency Trustees (“LIT”) are federally-regulated professionals trained and experienced in helping people get the fresh financial start they deserve. Previous to 2016 these financial professionals were known as Bankruptcy Trustees - which did not reflect...
Avoid Bankruptcy
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Consumer Proposals
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?
Credit Card
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Debt Consolidation Canada
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Debt Management
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...
Joint Debt
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