Great News: The 407 can no longer prevent you from renewing your plates if your 407 debt was discharged by a consumer proposal or bankruptcy. Both bankruptcy and a consumer proposal are intended to provide a fresh start. If you can’t renew your license plate after erasing your debt with a consumer proposal or bankruptcy, then your past debts would continue to affect your future; not much of a fresh start in our opinion. While we at Welker and ...
Nearly everyone struggling with debt suffers from daily calls from bill collectors. While our services are a great way to stop these calls once and for all, it’s important to understand some of the rules that collection agencies must follow regardless of whether or not you file a consumer proposal or assignment in bankruptcy. Rule #1 Before a collection agency can contact you they need to send you a written notice by regular mail (email doesn’t count). The notice must ...
Why continue to pay off your debt when there’s no end in sight? Too many people continue to make debt payments without reducing their debt; something that I refer to as “Treading Water“. If what you own and what you earn isn’t enough to pay off your debts in a reasonable time frame, then it’s important to consider your options. A lot of folks that I meet with have been doing their best to pay their debt without getting results. They ...
No, absolutely not! You cannot lose your job for filing a consumer proposal. Section 66.36 of the Bankruptcy and Insolvency Act states that “No employer shall dismiss, suspend, lay off or otherwise discipline a consumer debtor on the sole ground that a consumer proposal has been filed in respect of that consumer debtor.” Therefore, your employer would be in contravention of federal legislation if they terminated or disciplined you as a result of filing a Consumer Proposal. Debt problems ...
Welker and Company is pleased to announce that it is searching for a qualified candidate to fill the role of Estate Administrator. If you or someone you know is interested in the job opportunity described below, please forward your resume to apply@welkerandcompany.com. The Company – Welker and Company The Welker family has been in the personal insolvency industry since 1998. While Peter Welker’s legacy firm flourishes under the Welker and Associates banner in South Western Ontario, Welker and Company ...
There is no magic pill, despite what the internet may tell you. Paying off debt is no different then losing weight in that it takes perseverance and time. In our experience, if a debt solution sounds to good to be true, then it probably is. If you want to lose 10 or 20 pounds then a minor change in your diet or exercising a few times per week may do the trick. Similarly, If you have a manageable debt problem, which ...
“Treading Water” = Simply keeping your head above water, struggling without progress, or fruitless efforts. For many, making debt payments and then re-borrowing, or “Treading Water”, is a vicious cycle that perpetuates stress and anxiety. When you aren’t consistently reducing your debt on a monthly basis despite paying what you can afford, then you are “Treading Water” and need to reassess your situation before you drown. It’s important to consider: Is your total debt load decreasing every month? Can you afford ...
Welker and Company is pleased to announce its membership in the Better Business Bureau! The Better Business Bureau: Sets standards for ethical business behavior and monitors compliance; Helps consumers identify trustworthy businesses, and those that aren’t, through more than 4 million BBB Business Reviews; and Sets standards for and evaluates thousands of advertisements each year to ensure that people can trust what advertisers say. The debt management industry is home to a variety of highly reputable, as well as far ...
After making an assignment in bankruptcy with a licensed Trustee, you must complete a number of duties, including, but not limited to: 1) Attending two credit counselling sessions; 2) Reporting your income on a monthly basis; and 3) Making all required payments. If you are a first or second time bankrupt, and fulfill all of your duties prior to your scheduled discharge then you will receive what is called an Automatic Discharge. It is at this time that your ...
Bankruptcy isn’t contagious While I’m not a medical doctor there’s one thing I’m sure of: You can’t become bankrupt simply by calling a Trustee. While an overwhelming majority of debtors express their feeling of relief after leaving my office, so many delay asking for help. So why do so many people delay reaching out for help? In my experience, there are a number of reasons. Reason #1 – People don’t understand the bankruptcy process Common misconceptions are numerous. Few people ...
