Toronto Debt Solutions

Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Is your Canadian business drowning in debt? If you’re facing pressure from the bank, the CRA, or major suppliers, you need to know about the Division I Proposal under the Bankruptcy and Insolvency Act. Many business owners believe that insolvency means the end of their company. In reality, a formal restructuring allows you to remain in possession of your business while you reorganize your finances, silence your creditors, and stabilize your operations. In this video, Ira Smith, a Licensed Insolvency Trustee, explains how a Debtor in Possession strategy works in Canada and how to protect your livelihood using federal insolvency laws. Timestamps: 00:00 Introduction to Debtor-in-Possession (DIP) Restructuring 01:06 What is Debtor-in-Possession (DIP)? 01:29 Is Your Business Actually Viable? 02:00 Route 1: The Division 1 Proposal 02:31 Fast ...

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Digital Assets in an Estate: The Hidden Trap for Ontario Executors Digital Assets in an Estate: The Hidden Trap for Ontario Executors Being named an executor in Ontario is a massive responsibility, but the modern "Digital Estate" adds a layer of complexity that most people ignore. From cryptocurrency and NFTs to monetized social media accounts—these are all considered assets that must be managed during estate administration. If the deceased had debts, these digital assets could be the difference between a solvent estate and a legal nightmare. In this video, Ira Smith from Smith Estate Trustee Ontario breaks down how to identify, value, and manage digital assets while staying compliant with Canadian law. In this video, you will learn: What constitutes a "Digital Asset" in the eyes of the law. The risks of failing to disclose digital wealth to creditors. How to handle potential insolvency when digital assets are involved. Why an executor needs a clear strategy be...

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When Addiction Causes Bankruptcy Toronto Debt Relief: Addiction Financial Crisis When Addiction Causes Bankruptcy Toronto Debt Relief: When Addiction and Mental Health Cause Financial Crisis Are you struggling to manage your finances in Toronto due to the weight of addiction or mental health challenges? You aren't alone, and you don't have to face this by yourself. In this video, Ira Smith, President of Ira Smith Trustee & Receiver Inc., addresses the often-ignored link between personal well-being and financial insolvency. We discuss how the Canadian *Bankruptcy and Insolvency Act* provides a legal framework to hit the reset button, stop creditor harassment, and allow you the breathing room to focus on your recovery. In this video, we cover: 00:00 - Introduction 00:01:27 - Section 1: Beyond the Balance Sheet - A Compassionate Look at Financial Collapse 00:02:39 - Section 2: Accountability, Not Punishment - Treating Health as Health 00:03:47 - Section 3: Types of Disc...

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