Toronto Debt Solutions

Gambling and Consumer Proposals Ontario are treated very differently than in a Bankruptcy in Ontario.  One of the most common questions that individuals in difficult financial situations ask is: what’s the difference between a consumer proposal and bankruptcy? Personal bankruptcies and consumer proposals are two of the most common solutions available for personal financial issues. While both are designed to help individuals resolve debt issues and provide users with necessary protection from creditors, learning what’s the difference between a consumer proposal and bankruptcy can help individuals make more informed decisions in the future. Gambling and Consumer Proposals Ontario:  Consumer Proposal debt limitation With a consumer proposal, it is only possible for you to claim it if your total debt does not exceed $250,000, excluding the debt owing on the mortgage(s) on your home.  Additionally, you must be able to repay a portion of those debts in order to apply. Creditor accept http://...

This is the sad story of former NFL player Clinton Portis. Clinton figured out how to blow $40 million of career earnings and end up in bankruptcy. We are telling his story so that anyone experiencing financial problems will contact a licensed trustee for a free consultation to find a bankruptcy alternative before it is too late. http://www.irasmithinc.com/blog/bankruptcy-alternative/

Binge borrowing raises Canada s household debt burden We worry about binge eating and binge drinking, but it appears that we are not paying enough attention to Canada’s latest problem – binge borrowing. Incredibly low interest rates and sky high house prices have contributed to this trend. The Bank of Canada, the federal government and many economists have long been concerned that consumers who have been binge borrowing are now exposed to risk in the event of an economic shock or significant downturn. Just when we thought Canada s household debt burden couldn t go higher! Just when we thought that Canada’s household debt burden was at its peak, in the third quarter of 2015 Canada’s household debt burden hit another record high. This means that Canadian’s debts grew faster than their incomes. According to Statistics Canada: • The ratio of household credit-market debt to disposable income rose to 163.7% in the three months ended September 30, up from 162.7% in the second qua http://www.i...