Krieger & Company

So excited to be speaking at noon today at the Canadian Bar Association skilled #lawyer series about #insolvency topics! It's time for your refresher on bankruptcies, proposals, and other insolvency options. If you haven't signed up yet, head to: https://www.cbapd.org/details_en.aspx?id=na_NA21SLS01D

Excited to speak to the @canadian-bar-association this Thursday February 25th 2021 in their skilled #lawyer series. Sign up to get the consumer #insolvency scoop and get your PD here https://www.cbapd.org/details_en.aspx?id=NA_NA21SLS01D .

Excited to speak to the The Canadian Bar Association / L'Association du Barreau canadien this Thursday February 25th 2021 in their skilled #lawyer series. Sign up to get the consumer #insolvency scoop and get your PD here https://www.cbapd.org/details_en.aspx?id=NA_NA21SLS01D .

Debt-to-disposable-income rose to 170.7% in Q3 2020 from 162.8% in Q2 2020. The increasing indebtedness makes Canadians sensitive to changes in rates and lending policies. Insolvencies have hit a high, only slowed by COVID-19, leading to a backlog. https://financialpost.com//finance-minister-warned-about-i

Looking for a well-paying job in the pandemic to help with your #debt? @statcan_eng is hiring over 32,000 people for flexible 20-40 hour work weeks to complete the 2021 census. Apply at https://census.gc.ca/jobs-emplois-eng.htm

This survey about #Halloween from 2019 shows just what Canadians are spending. Were the treats, costumes, and decorations in your #budget for October? Tell us why if they're not. https://toronto.ctvnews.ca/survey-reveals-halloween-spendin

Happy New Year from Krieger & Company, Licensed Insolvency Trustee. "Resolve to keep happy, and your joy and you shall form an invincible host against difficulties." - Helen Keller

Are you struggling to pay your bills, rent or mortgage payments? York Region offers programs to help support you so you can stay in your home. Stable household...s help build strong communities. Find out more about our programs and if you are eligible for support by contacting Access York at 1-877-464-9675 or visiting york.ca/homelessnessprevention

Looking forward to The Economic Club of Canada's "Mindfulness & Money: A Real Conversation about Financial Wellness" free webinar event for young people aged 30 and under? Have you signed up yet? https://economicclub.ca//mindfulness--money-present-a-real

Non-mortgage #debt has declined in the past year, primarily due to decreased #spending leading to reduced #creditcard #debt. Moreover, mortgage deferrals and loan forbearance has "transfer[ed] spending from servicing debt to the consumption". https://financialpost.com//why-debt-is-still-a-four-letter

The York Homelessness Prevention Program can provide rent assistance for those struggling to make rent payments or utility payments. Use the resources available to you if you need them during this difficult time. For debt challenges, we can help with #counselling, #consumerproposals with your creditors, or #bankruptcy.

@CMHC_ca is asking banks and #mortgage companies to stop offering #high-risk #mortgages to first-time buyers, because they represent a threat to the economy. House prices could fall by about 18% and the impact will be felt into 2022. #debt https://www.cbc.ca//busi/cmhc-mortgage-insurance-1.5683506

Heightened stress and anxiety, combined with alcohol or other substances, can lead to unpredictable situations. Stay safe. Avoid impulse spending. Know yourself. Ensure your support network is in place and create backstops against decisions you may regret- both financially and otherwise.

Since the middle of March, Canadians who subscribe to sports channels have paid somewhere in the neighbourhood of half a billion dollars for programming that most of them aren’t watching and haven’t used in months. https://www.theglobeandmail.com//article-why-are-we-payin/

Payments from CERB are fully taxable, and unlike with a typical paycheque from an employer, the taxes owed aren’t taken off the amount the government sends you. For many CERB recipients, it will be a shock when they find out what they owe next year". https://www.huffingtonpost.ca//cerb-taxable-income-taxes_c

#CMHC rules take effect July 1 eliminate acceptance of such as unsecured personal loans or unsecured lines of credit as equity (finally), will increase the standard 35/42 GDS (gross debt service ratio) and TDS (total debt service ratio), and >680 score. https://www.thestar.com//cmhc-toughens-qualifying-rules-fo

40% of #Canadians are in #jobs that can plausibly be carried out from home according to Statistics Canada. Does this really mean that 40% of our jobs can be #outsourced. How is quality of work affected? https://www150.statcan.gc.ca//2020001/article/00026-eng.htm

Is there any real rush to file by your #taxes June 1 if there are no penalties as long as you file by Sept. 1? The answer may depend on whether you are receiving #benefits. #canada #debt https://business.financialpost.com//what-you-need-to-know-

A quarter of the eateries that are now closed or that are only doing take out during the pandemic won’t be able to reopen again once this is over. #debt #smallbusiness https://www.marketwatch.com//1-in-4-restaurants-wont-reope

For those already over-stretched with more debt than they could reasonably afford, the government relief and short term payment reprieve have allowed many to stay afloat. Their underlying debt is a gaping hole leading to continues insolvency. @CAIRP_ACPIR https://www.theglobeandmail.com//article-covid-19-measure/

BREAKING NEWS: The Ontario Court has provided an Order providing a three-month extension for defaults occurring in #consumerproposals until the end of 2020. This is great news during #COVID-19 to help navigate the uncertainty which it brings. https://krieger.ca/covid19-order-provides-payment-extensio/

One small positive in the #COVID-19 #pandemic is that #debt has lost a lot of its stigma. At Krieger & Company, we're seeing a huge influx of Canadian individuals and small businesses looking to tackle their debt- and they love what we have to say. https://www.theglobeandmail.com//article-the-pandemic-has/

Announcing the Canada Emergency Response Benefit #cerb to help Canadians who are out of work due to #COVID-19 https://m.youtube.com/watch?v=OjOHNfNX9mM