Need an alternative to bankruptcy?
Consider A Consumer Proposal Or Debt Management Program Going bankrupt is generally a last resort for solving financial problems. If you’re struggling with debt, there are two common alternatives you should know about: filing a consumer proposal and...
Even a large tax debt can be settled by a proposal
At R. West & Associates, we’re often asked if the Canada Revenue Agency (CRA) will accept a proposal to settle a large income tax debt. The answer is often “yes,” as long as the proposal terms are reasonable and supportable. We’ve even helped...
Dealing with Debt during the COVID-19 Pandemic (Debt Pooling, Bankruptcy, Consumer Proposal)
Many British Columbians have experienced personal and financial stress as a result of the COVID-19 pandemic. On the financial side, COVID-19 has causedchanges in household income and expenseschanges in people’s spending habitslong-term employment...
R. West & Associates – Covid – 19 Response
How We’re Taking Care and Staying Safe As a Licensed Insolvency Trustee, R. West and Associates, Inc. is considered an essential service. Consequently, we have been operating throughout the COVID-19 pandemic. We are following industry leading health and...
The downside of defaulting a Consumer Proposal
If you’re considering a consumer proposal to manage your debt, you’re not alone. About half of the people who come to see us initially choose this option for resolving their debt problem.A proposal is an agreement between you and your creditors. It allows...
Filing a consumer proposal? Don’t pay for services you don’t need
We’ve all been there… We see an ad touting a product or service. It sounds too good to be true, yet we want to believe it because it’s something we need. Debt settlement ads are a good example. Some debt relief companies advertise consumer proposals and other debt...
5 ways to make the most of the universal childcare benefit
It’s not every day that a hefty cheque arrives in the mail (or in your bank account) courtesy of the federal government. But for parents across Canada with children under 18, that was the case this week. The increase to the Universal Childcare Benefit (UCCB),...
What do low oil prices really mean for you?
Filling up at the pump for less these days has drivers everywhere cheering. The extra cash in our pockets feels good. But ever wonder what the low price of oil may have in store for you here in B.C. other than cheaper gas? Here’s a rundown: More costly U.S. goods: The...
Worried about debt? Here are 3 tips to get free advice you can trust
Feeling anxious about debt is normal. But are your fears keeping you from getting the help you need, or worse yet, paying for advice when you don’t have to? We recently met with a debtor who had this problem. She had already consulted a credit counselor. At their...
Why a Consumer Proposal may be the answer to your tax debt
Many people who owe a lot of tax think going bankrupt is the only answer. But consider the following case: In late 2013, we met with a person who was facing significant debt after her charitable tax credits were disallowed by CRA. Kathleen (not her real name) didn’t...