Toronto Debt Solutions

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CCAA RESTRUCTURING: IS IT EVER TOO LATE TO SAVE YOUR CANADIAN BUSINESS FROM BANKRUPTCY? THIS BRANDON’S BLOG GOES LIVE ON MONDAY, JUNE 1, 2026 AT 12:00 NOON CCAA RESTRUCTURING: IS IT EVER TOO LATE TO SAVE YOUR CANADIAN BUSINESS FROM BANKRUPTCY? Is your company facing overwhelming debt but still has a viable future? In Canada, the Companies’ Creditors Arrangement Act (CCAA) is the ultimate legal framework designed to give large-scale businesses a second chance. In this video, Brandon Smith, Licensed Insolvency Trustee at Ira Smith Trustee & Receiver Inc., breaks down the CCAA restructuring process. We move past the legal jargon to show you how a "Stay of Proceedings" can stop creditor action in its tracks and give your management team the breathing room needed to implement a Plan of Arrangement. What you will learn in this video: ✅ The $5 Million Threshold: Is your business eligible for CCAA? ✅ The Role of the Court-Appointed Monitor: Why you need a Licensed Insolven...

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BIA VS CCAA PROCEEDINGS TORONTO: WHICH RESTRUCTURING STRATEGY SAVES YOUR BUSINESS? BIA VS CCAA PROCEEDINGS TORONTO: WHICH RESTRUCTURING STRATEGY SAVES YOUR BUSINESS? Are you a Toronto business owner facing a mountain of debt? Navigating the Canadian insolvency landscape can feel like a minefield, but choosing the right legal framework is the difference between a successful turnaround and a total shutdown. In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the critical differences between the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA). What you’ll learn: ✅ The $5 Million Threshold: Does your business even qualify for CCAA? ✅ BIA Division 1 Proposals: The "Surgical Strike" for SMEs—speed, cost, and risks. ✅ The CCAA "Blank Canvas": Why large corporations prefer court-driven flexibility. ✅ The Automatic Bankruptcy Trap: What happens if your BIA proposal is rejected? ✅ The Stay of Pro...

HONDA CANADA EV PLANT ALLISTON SUSPENDED: THE $15B FINANCIAL DISASTER FOR ONTARIO SUPPLIERS HONDA CANADA EV PLANT IN ALLISTON, ONT., SUSPENDED: THE $15B FINANCIAL DISASTER FOR ONTARIO SUPPLIERS Honda Canada just hit the brakes on its $15-billion EV plant in Alliston, Ontario—and the financial ripple effect is just beginning. While the headlines focus on the "indefinite suspension" and shifting global demand, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the real-world impact on the Canadian insolvency marketplace. In this video, we dive into: - Why Honda’s first-ever full-year loss changed everything for Alliston. - The "Zombie Supply Chain": What happens to Ontario manufacturers who retooled for an EV boom that isn't coming? - Financial Survival: How local business owners and contractors can use a Consumer Proposal or restructuring to manage debt from failed expansions. - The truth about "Job Security" in a shifting trade...

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5 STEPS TO STOP WAGE GARNISHMENT IN ONTARIO (FAST) 5 STEPS TO STOP WAGE GARNISHMENT IN ONTARIO (FAST) Did you wake up to a smaller paycheque? If a creditor is garnishing your wages in Ontario, they can legally take 20% of your gross pay—and if it's the CRA or for support, it could be up to 50%. In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the 5 exact steps you need to take to stop wage garnishment and get your full paycheck back. Warning: Most people wait too long, losing thousands of dollars that they can NEVER get back. Under the Ontario Wages Act and the Bankruptcy and Insolvency Act (BIA), you have rights—but you have to trigger them. WHAT YOU WILL LEARN: ✅ How to identify if your garnishment is a Court Order or a CRA Requirement to Pay. ✅ Why "negotiating" with creditors usually fails once the garnishment starts. ✅ The "Automatic Stay of Proceedings": Your secret weapon to stop collectors instantly. ✅ Consumer...

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CONSUMER PROPOSAL VS BANKRUPTCY: WHICH ONE WINS IN 2026? (THE REAL DIFFERENCE) THIS BRANDON’S BLOG DROPS ON MAY 11, 2026, AT 12:00 NOON CONSUMER PROPOSAL VS BANKRUPTCY: WHICH ONE WINS IN 2026? (THE REAL DIFFERENCE) Are you feeling overwhelmed by debt and unsure which path to take? You aren't alone. With Canadian insolvencies at a 15-year high, choosing the right solution is the difference between losing your assets and a total financial fresh start. In this video, Brandon Smith, Licensed Insolvency Trustee at Ira Smith Trustee & Receiver Inc., breaks down the critical differences between a Consumer Proposal and Bankruptcy under the Canadian Bankruptcy and Insolvency Act (BIA). We’re stripping away the jargon to give you the "honest but unfortunate" truth about: ✅ Which option lets you KEEP your house and RRSPs. ✅ Why a Consumer Proposal payment stays fixed (even if you get a raise!). ✅ The real impact on your credit score (R7 vs R9). ✅ How to stop col...

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IS A HUSBAND RESPONSIBLE FOR HIS WIFE’S CREDIT CARD DEBT IN ONTARIO? (THE TRUTH!) IS A HUSBAND RESPONSIBLE FOR HIS WIFE’S CREDIT CARD DEBT IN ONTARIO? (THE TRUTH!) Are you worried that your wife's credit card debt will ruin your credit score or take your house? In Ontario, the rules of spousal debt are often misunderstood. In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the legal realities of debt and marriage under the Bankruptcy and Insolvency Act (BIA) and Ontario law. What you’ll learn: ✅ The difference between Individual and Joint Debt in Ontario. ✅ Why a "Supplementary Card" might not mean what you think it does. ✅ How a spouse’s debt impacts "Net Family Property" and Equalization. ✅ How a Consumer Proposal can protect one spouse while settling the other's debt. ✅ Why you are NOT automatically liable for your spouse’s debt just because you’re married. If you are a husband in Ontario feeling the pressure of ...

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WILL MY EMPLOYER FIND OUT IF I FILE FOR A CONSUMER PROPOSAL? (THE TRUTH) WILL MY EMPLOYER FIND OUT IF I FILE FOR A CONSUMER PROPOSAL? (THE TRUTH) Are you holding back on debt relief because you’re terrified your boss will find out? You aren’t alone. For many Canadians, the fear of professional stigma or losing their job is the #1 reason they stay trapped in debt. In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the legal reality of consumer proposals and employment in Canada. We cover: ✅ Does the Licensed Insolvency Trustee (LIT) notify your employer? ✅ Section 66.36 of the Bankruptcy and Insolvency Act: Your legal protection against being fired. ✅ The 3 specific reasons an employer might find out (and why one of them is actually GOOD news). ✅ Professional Designations: What CPAs, Lawyers, and HR professionals need to know about self-reporting. ✅ Security Clearances: How insolvency affects Level II and Level III clearances. Stop letting debt ...

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DO I HAVE TO LOSE MY CAR IF I FILE FOR BANKRUPTCY IN CANADA? (THE TRUTH) DO I HAVE TO LOSE MY CAR IF I FILE FOR BANKRUPTCY IN CANADA? (THE TRUTH) Are you worried about losing your vehicle because of overwhelming debt? In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the Canadian bankruptcy laws regarding your car, truck, or SUV. Many Canadians believe that filing for bankruptcy means losing everything, but the "Bankruptcy and Insolvency Act" and provincial laws (like the Execution Act in Ontario) are actually designed to help you keep essential assets. In this video, you will learn: ✅ The $7,117 Ontario vehicle exemption rule. ✅ What happens to financed or leased vehicles during bankruptcy. ✅ How to "buy back" equity in your car so you don't have to surrender it. ✅ Why a Consumer Proposal might be the better option for keeping high-value vehicles. At Ira Smith Trustee & Receiver Inc., we believe in "Starting O...

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HOW CAN I STOP A DEBT COLLECTOR FROM CALLING MY WORKPLACE IN ONTARIO HOW CAN I STOP A DEBT COLLECTOR FROM CALLING MY WORKPLACE IN ONTARIO? Is a debt collector harassing you at your job? In Canada, you have specific legal rights that protect your employment and your privacy. In this video, Brandon Smith from Ira Smith Trustee & Receiver Inc. breaks down the exact steps you need to take to end workplace harassment from collection agencies. What You Will Learn: ✅ The "One-Call" Rule: What collectors can and cannot ask your employer in Ontario. ✅ How to send a formal written notice to cease workplace communication. ✅ The "Nuclear Option": How a Stay of Proceedings via a Consumer Proposal or Bankruptcy stops all calls permanently. ✅ Why your career is at risk and how to protect your professional reputation. At Ira Smith Trustee & Receiver Inc., we help Canadians deal with overwhelming debt so they can focus on their lives and careers. We believe in ...