Be Informed about Debt Solutions in Edmonton

Consolidating debt involves taking out a large loan to pay off a collection of smaller loans. There’s more than one way to consolidate debt but one common method involves taking out a second mortgage on your house (also known as a home equity loan). Here’s what you need to know in order to decide if this is the right option for you.

You may be worried about what you are required to give up in order to file for a consumer proposal or bankruptcy in Edmonton. Understandably, money is already tight and the idea of giving up assets you need and worked hard for seems overwhelming.

Commonly referred to as LITs, licensed insolvency trustees should be your first choice when seeking out help to overcome your debt. The role of these federally licensed experts is to provide financial advice and to administer bankruptcies and consumer proposals. They’re legally obligated to ensure that the debtor’s rights are protected throughout the process. Here’s more about why you can trust LITs to help you.

Anyone who’s borrowed money has a credit score. If you’re currently confronting a substantial amount of debt and don’t know how to start fixing your finances, one of your first steps should be to understand what your credit score means and what goes into calculating it. Here’s what you should know.

What is Personal Bankruptcy and How Does it Work?

Should I File for a Consumer Proposal or Bankruptcy? Part 2

This is part 2 of our post “Should I File for a Consumer Proposal or Bankruptcy?”. For part 1 of this most and more details about consumer proposals, use the link below.

Should I File for a Consumer Proposal or Bankruptcy?

While everyone’s personal situation is different, there are good reasons to choose a consumer proposal or bankruptcy if you wish to resolve an ongoing financial crisis. Living daily with looming financial debt can cause emotional strain and impact your relationships both at home and at work. A Licensed Insolvency Trustee (LIT – previously bankruptcy trustee) can assess your unique circumstances in making this difficult decision. In the meantime, some general guidelines are provided here about why you may prefer one option over the other.

We all would like our children to grow up to be financially independent. We would like to see our grown children earn a good living, spend and borrow wisely, plan well, and have insurance for protection. 

Is your debt overwhelming? Are collection calls getting to you? Are you making interest payments but not payments towards the principal amounts you owe? Are you thinking about filing for bankruptcy? If you are seriously considering bankruptcy, you may want to find out if you qualify for a consumer proposal. Many individuals are opting for a consumer proposal and leaving bankruptcy as an option of last resort.

Many people who consider personal bankruptcy worry that their credit will become permanently damaged, but this does not need to be the case. In fact, the process of rebuilding credit after personal bankruptcy in Edmonton can start as soon as you have been discharged. The personal bankruptcy advisors at Fox-Miles & Associates Inc. Licensed Insolvency Trustee have put together some steps to improving your credit score after bankruptcy.

When you’re still in school, it can seem like you have all the time in the world to pay of the debts you’ve been accruing. You’d be surprised how short “all the time in the world” will seem in a few years, when you’re on the job market and taking the first steps towards establishing your life.

Though most people use credit cards, some choose not to have one or are considering getting rid of theirs. But is it really a good idea not to have a credit card? At Fox-Miles & Associates Inc., our licensed insolvency trustees provide credit counselling in Edmonton for people from all walks of life. We've seen some of the troubles that credit card debt can cause for Canadians but we also recognize the importance of having and using a credit card wisely.

Canadians are big and generous holiday spenders. We love to host parties and buy gifts for our friends. Unfortunately, the holidays also leave many people in financial stress. At the end of every holiday season, the experts at Fox-Miles & Associates Inc. help many clients get their finances back in order by providing debt solutions such as credit counselling and personal bankruptcy in Edmonton. We are also happy to provide tips on how to make it through the next holiday season in better financial shape.

When deciding what course of action to take to manage your debt, it can certainly help to seek professional advice from a licensed insolvency trustee (“LIT”) in Edmonton. Two of the most common and effective solutions are obtaining a debt consolidation loan or filing for personal bankruptcy. Considering that these are vastly different options, it is important to fully understand each and weigh their pros and cons before acting.

If you face surmounting debt, you are certainly not alone in your predicament. Finding a way to overcome your debt is a challenge many people continue to struggle with.

When your day to day expenses start to become more than you can bear, it’s easy to sink into debt. You may feel like you’re in danger of being swallowed up by bill payments and interest charges. Credit counselling in Edmonton can help you get your finances back on track and improve your credit score. Keep reading to learn more.

More and more people are relying on credit to cover their monthly expenses and many people in Edmonton are feeling overextended. When debt becomes a problem for you, you need expert advice and debt solutions in Edmonton to regain control over your finances. Keep reading to learn more about the benefits of professional debt counselling services.

Finding yourself in the middle of a financial crisis can be incredibly stressful. The bills keep piling up, the collectors keep calling and you can’t see an end in sight. If you’ve gone to credit counselling, and you’ve exhausted all the debt solutions presented to you, filing for personal bankruptcy in Edmonton may be your best option. Here are six signs that it’s time to consider it.

Filing for bankruptcy is never an easy decision. There are many important things to consider and whatever decision you make, you’ll have to live with both positive and negative consequences. Keep reading to learn more about corporate bankruptcy in Edmonton and whether or not it’s right for you.