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How Do I Know If I’m In Financial Trouble?

2019-05-08T04:18:53+00:00Uncategorized|

Is It Time For A Licensed Insolvency Trustee To Review My Finances? Everyone should know what it feels like when you DON’T HAVE financial trouble. That’s when your income is more than enough (Without Using Credit) to pay all your basic living expenses like rent or mortgage, utilities, food and household expenses, clothing, vehicle/transportation expenses, [...]

How Can I Improve My Credit Rating?

2019-05-08T04:14:20+00:00Uncategorized|

First of all, congratulations on completing a major step to financial well-being by settling or discharging your unsecured debt. This is a big step completed. You might be considering what you can do to improve your credit rating so that you can obtain credit in the future for a major purchase like a vehicle or [...]

Do I Have To Dislose All Debts In A Proposal Or Bankruptcy?

2019-05-08T04:08:47+00:00Bankruptcy, Consumer Proposal|

When a consumer proposal or bankruptcy starts there is immediate protection from the collection action of all unsecured creditors against the debtor. To get this protection, certain things have to be provided to the Licensed Insolvency Trustee (“LIT”) so that necessary paperwork can be prepared, signed by the debtor and the LIT, and submitted to [...]

Can I Make A Consumer Proposal To My Creditors By Myself?

2019-03-22T16:09:36+00:00Consumer Proposal|

No, you can’t. But let’s make sure we are both talking about the same thing. If you ask a Licensed Insolvency Trustee (“LIT”) what a consumer proposal is, the LIT will tell you that it is a specific process according to the Bankruptcy and Insolvency Act (“BIA”) where an individual can offer a compromise to [...]

Can Bankruptcy Or A Proposal Deal With Tax Debt?

2019-03-22T15:55:48+00:00Bankruptcy, Consumer Proposal|

The simple answer to this is yes. If you go bankrupt or make a proposal that is accepted by creditors, the tax debt is included in either process in normal cases. When Can't It Be Included? Here are some of the unusual cases where further action or collection can be taken by CRA; If the [...]

What Is A Consumer Proposal? Is It A Good Idea?

2019-03-22T15:46:12+00:00Consumer Proposal, FEATURED|

Are you looking for affordable debt resolution? Many residents of Edmonton and Alberta are faced with the problem of unmanageable debt. It is important to know that there are multiple solutions. If you are struggling with your debt and are unsure of where to turn, Goth & Company can show you what options are available [...]

“Bankruptcy” is not just “bankruptcy”

2019-03-12T14:20:01+00:00Bankruptcy, Consumer Proposal|

Bankruptcy is commonly used to describe one of the government law processes available in federal legislation known as the Bankruptcy and Insolvency Act (BIA). The BIA  regulates the options available to deal with businesses and individuals experiencing financial difficulties. Only Licensed Insolvency Trustees (Trustees) are allowed to administrate the options in the BIA. Individuals seek [...]

Does A Proposal or Bankruptcy Help Clear up your Credit Report?

2019-03-22T13:01:44+00:00Bankruptcy, Consumer Proposal|

A Proposal or Bankruptcy Helps Clear up your Credit Report - Myth or Fact? Several times a week I get calls from individuals (debtors) who believe that if they go through a proposal or bankruptcy their debts will be removed from their credit report and that will make it easier for them to get new [...]