My Incorporated Business is Failing, What Should I Do?

One of the basic reasons to set up a Corporation (incorporated business) is to limit your legal liability for business debts that are debts of the corporation. For example, you set up a construction company and start credit accounts for the company with suppliers of lumber, hardware, fuel, insurance, and the like(trade debts). You are [...]


Statute of Limitations on Old Debts

I’ve Been Told A Creditor Cannot Collect On An Old Debt Is This True? In certain circumstances, this is true. The ability of a creditor to legally pursue collection for an old debt has some limitations by Provincial Law which can vary from province to province. In Alberta, the Limitations Act, in general, prevents a [...]


What Do I Need To Do To Deal With My Debts And Get A “Fresh Start” ?

When The Debts Are Piling Up... Most people with a financial problem actually have 2 problems; They spend more than they make, and Their debt load is out of control Both problems have to be fixed before your problem is cured. Try this: Item 1) - write down the sources and amounts of your monthly [...]


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

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, [...]


A Collection Agent Has Been Calling Me Threatening To Seize My Furniture

Can They Do That? There are two general types of seizures when a debt is not paid; A seizure by a secured creditor on the asset the creditor holds for security such as a vehicle. A secured creditor has a security agreement which is a type of written contract signed by you and the creditor, [...]