Just into the New Year, the news continued to be bleak with respect to plant closings and layoffs with the news of the Accuride layoffs and the McCormick plant closing. Comments from city officials were however that this type of news is only temporary as the manufacturing sector in London and London’s business outlook for […]
2007 is almost here and if you are like many people you are just trying to get that last minute shopping finished. If you have not stayed on budget this year and the Christmas shopping will have put you over the edge, please consider your options before doing anything that could get you into deeper […]
When you file for personal bankruptcy or a consumer proposal, one of the things that the trustee monitors closely is that you complete your duties. These are outlined in Section 158 of the Bankruptcy and Insolvency Act and there are quite a number of them.
One of the duties states that you must make yourself available […]
A few posts ago I talked about the court case in B.C. with respect to payday loans.
A recent article in the London Free Press talked about provinces regulating the indsutry. It appears the federal government has introduced Criminal Code changes that would clear the high-interest, short-term lending issues. The changes would give the provincial governments […]
When I meet with people and we are discussing their situation, it is usually very late in the appointment that they indicate they have been bankrupt before. They usually then say “That means I can’t go bankrupt again, right?”
Actually you can go bankrupt more than one time but when we are discussing your financial situation, […]
A lot of people are worried when they come to meet with me that it means they have to file for bankruptcy - they will have no choice.
Meeting for an initial appointment with a trustee means you should be able to discuss your situation with that person, get an idea of what options are available […]
In the news lately there has been lots of coverage about plant closings: John Deere in Woodstock, Dow Chemical in Sarnia, and Dana in this area.
The news is worrisome because it appears the employees will lose their jobs and not be relocated to another branch. This means there are less people contributing to the economy […]
In London, payday loan places have become quite familiar on the street with their brightly coloured signs and on TV with their catchy commercials.
If you use these places, you know that the charges for borrowing funds for a short period of time can be quite steep. And if you are not able to pay the […]
When I meet with people or talk to them over the phone about their financial situation, the above question is one that is asked quite often.
For those of us in this business,it sometimes comes as a surprise, because a trustee in bankruptcy does not take money from a paycheque.
The bankruptcy/proposal process looks at household income […]
In my last posting I spoke about whether a debt is dischargeable and realized this can be somewhat confusing to the people I meet.
Some debts are very clear, such as child or spousal support, when deciding if they are dischargeable. Others are not.
A quick and simple list of non-dischargeable debts is:
- fines, penalties, restitution orders […]
