Financial restructuring your business in British Columbia. Today’s social and economic events bring unique challenges to business owners in the Fraser Valley.  Corporate and small businesses in many sectors are seeing monumental changes that can lead to instability to their business models. Challenges in the news recently: Retailers are struggling with high rent and lower…

Seniors Debt, How things shape up for Canada Seniors debt in Canada is on the rise.  In a recent report from Industry Canada and the Superintendent of Bankruptcy, senior’s bankruptcy rates have quadrupled from 4.6 percent to 20.6 percent. What are the issues that are causing this dramatic rise in our baby boomer generation that was…

Terry Sharp has joined our team at Sheila Smelt & Associates! We could not be more pleased and excited to have such an experienced and well respected Estate Administrator join our team in Abbotsford.  Terry Sharp brings years of professional experience from the big bankruptcy business of Sands Trustee to our boutique Licensed Insolvency Trustee…

Tax Deadline is Approaching It’s that time of year again. Tax time always seems to cause a high degree of stress and anxiety for BC Residents.  Actually, the stress is specifically associated to those individuals that don’t receive a tax refund, those of us that have a tax balance owing. Even if you have tax deducted at your…

Dealing with Student Loans Some individuals find themselves in financial difficulty after they have finished their studies.  Perhaps they used their available credit to cover living expenses and/or school expenses while they studied.  Or they finished their studies a while ago and haven’t been able to find adequate employment to support themselves and make payments…

Economic Forecast – The Canadian economy is expected to improve in 2015. Are you able to capitalize on an improving economy? To start with let’s look at your present situation – Over the past few years you’ve kept your head down, trying to pay the bills and keep food on the table.  Perhaps you been…

Debt Collectors With debt levels in Canada at record levels. Collection agencies across Canada are becoming increasing more aggressive about collecting past due accounts.  Finding more and more creative ways to seek out debtors and recover delinquent accounts. Collection agencies are in the business of debt recovery.  These agencies are quite often not the owner of…

Consumer Proposal & Revenue Canada Debt what you need to know. Do you have outstanding tax debt with Revenue Canada, being charged penalty and interest? Does CRA allow liabilities to be included in my consumer proposal? CRA will only allow liabilities up until the end of the calendar year, before the proposal. Example filing a…

How to get Credit after bankruptcy = Improving your Credit Score In order to repair one’s credit score one must first understand some fundamentals in what is a credit score. Building good credit or Fixing bad credit, what is the difference? It will actually takes longer to rebuild credit than building new credit. Building new credit is…

Credit Scores indicate Risk Levels to Lenders There are 2 separate credit score reporting agencies in Canada. Equifax and Transunion are private companies and are the sources for which lenders determine the worthiness of your credit. Equifax  & Transunion Credit Scores are measured with an numberical range of 280 to 850, where the higher score…

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