Five Signs Your Business is Headed toward Bankruptcy
Cash-flow is the most important factor in determining the success or failure of a business....
When Should I File Bankruptcy?
Should I File a bankruptcy now or wait until Covid-19 is finally gone? When might be the best time to file bankruptcy? Should I wait? Will the debts be forgiven? What will the government do to help me with my bills? Let’s tackle the ‘easier” questions first, and then...
We “speak” your preferred language using our web-chat!
Would you prefer to type your questions in French, Italian, Greek, Persian, Tagalog, Hindi, or any other language? You can now chat with us using the chat icon at the bottom-right of your screen. (It will either appear as a chat-balloon, or as a picture of Jacques Rusinek). Please...
Emergency Funds to Help pay for Groceries, Housing and more.
The Federal Government has announced emergency funding for Canadians under the Covid-19 Emergency Response Act. The funds will be made available to assist Canadians in paying for essential items such as groceries and housing. In addition, under the Emergency Response Benefit Act, Canadians who have lost their income due...
Relief in Sight?
We are in the eye of the hurricane and experts project that things will get worse before they start to improve. But there is some cautious optimism that the rate of new infection from Covid-19 has begun to slow in some countries. By contrast, the financial impact will likely...
Payday Loans – but now Laid-off!…
We are hearing from many that they are not able to deal with their debts, especially high-interest payday lenders. The lay-offs brought about by mandatory closure of “non-essential businesses” in Ontario, due to Covid-19, have made it nearly impossible to make payment toward payday loans (and other debt as...
Canada Revenue Agency – Some good news
The Canada Revenue Agency (“CRA”) has extended the deadline to file the 2019 personal tax return to June 1, 2020 (instead of April 30). More significantly, any amounts owing will not be due until August 31, 2020 and no interest will be charged for balances due until that date!...
Bankruptcy Discharge Hearings
Due to Covid-19, the Ontario Superior Court of Justice in Bankruptcy and Insolvency has suspended all regular operations since March 17, 2020 for an indefinite period. Discharge hearings, and other motions before the court including motions on the revival of annulled Consumer proposals will not be heard until further...
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