{"id":5,"date":"2021-01-13T19:30:37","date_gmt":"2021-01-13T19:30:37","guid":{"rendered":"http:\/\/realrulesofdebt.com\/?page_id=5"},"modified":"2021-01-22T22:34:58","modified_gmt":"2021-01-22T22:34:58","slug":"home-page","status":"publish","type":"page","link":"https:\/\/realrulesofdebt.com\/","title":{"rendered":""},"content":{"rendered":"

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When you can\u2019t cover the mortgage<\/span> <\/strong>without mom\u2026
When the Canada Revenue Agency <\/span><\/strong>comes knocking\u2026
When you think you\u2019re caught up<\/span><\/strong> and the car breaks down\u2026
When utilities<\/span> <\/strong>bingo backfires and hydro pulls the plug<\/span><\/strong>\u2026
When you can\u2019t remember the last time you\u00a0paid all<\/span> <\/strong>the bills on time<\/strong><\/span>\u2026
When you\u2019re afraid to answer<\/strong><\/span> the phone if you don\u2019t know who\u2019s calling\u2026.
When you dread what\u2019s in the mailbox<\/span><\/strong>, or hide mail from your spouse\u2026<\/p>\n

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Family, job, kids, health, elderly parents\u2026\u00a0anything can become the unexpected\u00a0speed bump<\/span><\/strong> that throws your budget\u00a0out of balance.<\/p>\n

When the bills are growing faster than your\u00a0budget, it doesn\u2019t take long before you feel\u00a0that debt rules<\/span><\/strong>.<\/p>\n

Your shed<\/strong> <\/span>the debt\u2122 consultation with\u00a0Goldhar & Associates Ltd. is the first step\u00a0in restoring balance to your financial life\u00a0and your future.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_divider _builder_version=”4.7.7″ _module_preset=”default”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.7.7″ _module_preset=”default” border_radii=”off||||” border_color_right=”#ffc423″][et_pb_column type=”1_2″ _builder_version=”4.7.7″ _module_preset=”default” border_width_right=”3px” border_color_right=”#ffc423″][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” custom_padding=”|16px||0px|false|false”]<\/p>\n

human<\/span>. responsive. proactive.<\/h1>\n

These attributes are at the heart of Goldhar & Associates Ltd.<\/p>\n

Our role is to review your debt situation with you, explore all reasonable opportunities to resolve your financial problems, and\u00a0provide you with straightforward counsel to help you rebuild\u00a0your finances for a fresh and manageable future.<\/span><\/strong><\/p>\n

As licensed Trustees in Bankruptcy, we can administer your Consumer Proposa<\/strong><\/span>l, or file your assignment in Bankruptcy<\/span><\/strong>, both of which offer you protection from creditors under the
Bankruptcy and Insolvency Act.<\/p>\n

We won\u2019t consider either of these options until we\u2019ve truly assessed your debt load and explored all other options for\u00a0relief.<\/p>\n

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debt relief options<\/span><\/h2>\n

<\/span><\/p>\n

\u25cf credit counselling
\u25cf debt consolidation loan
\u25cf consumer or Division I proposal
\u25cf assignment in bankruptcy<\/p>\n

A consumer<\/span> <\/strong>or Divison I proposal<\/strong><\/span>, or an\u00a0assignment in bankruptcy<\/strong> <\/span>are the only<\/strong> <\/span>options\u00a0that provide legal protection from creditors\u00a0and immediately stop garnishments, executions,\u00a0suspension of essential utilities, and other\u00a0collection actions.<\/p>\n

Only<\/strong> <\/span>a licensed trustee in bankruptcy can\u00a0help you make a proposal to your\u00a0creditors or file an assignment in bankruptcy.<\/p>\n

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consumer proposal<\/span><\/h1>\n

 <\/p>\n

A consumer proposal<\/strong><\/span> allows you to reduce and then settle your\u00a0unsecured debts \u2013 including what you owe to the Canada Revenue Agency \u2013 for an agreed-upon amount, to be repaid in one manageable monthly payment to the trustee for up to 60 months.<\/p>\n

The amount of your settlement offer<\/span> <\/strong>must be more than the creditors would receive in bankruptcy. And you must be able to demonstrate\u00a0that you can meet that monthly payment<\/strong><\/span> without fail.<\/p>\n

A consumer proposal is prepared by Goldhar, who will present it to\u00a0your creditors and assist in negotiations until there is an agreement\u00a0between you and the creditors on the amount you propose to pay.\u00a0<\/p>\n

Goldhar will administer the fulfilment of your proposal<\/strong><\/span> until all\u00a0amounts have been paid. Once Goldhar files your proposal, all\u00a0garnishments, executions, and legal actions by creditors are stopped,\u00a0and public utilities may not discontinue service for non-payment.<\/p>\n

 <\/p>\n

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\u25cf<\/span>On unsecured debts totalling $250,000\u00a0or less (other options exists if debts are over $250,000)
\u25cf<\/span> you retain control of your assets
\u25cf<\/span> your obligation is limited to payment of\u00a0the settlement amount accepted by your\u00a0creditors
\u25cf<\/span> you can pay off the remainder of your\u00a0proposal at any time you choose
\u25cf<\/span> if your proposal is rejected you may\u00a0choose to file for bankruptcy, or can\u00a0work with Goldhar to find another\u00a0solution<\/p>\n

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assignment in bankruptcy<\/span><\/h1>\n

 <\/p>\n

Bankruptcy<\/strong> <\/span>is a legal declaration that you are insolvent and are\u00a0unable to meet your obligations to your unsecured creditors. It offers you the chance to wipe your debt slate clean and start\u00a0a fresh financial life.<\/p>\n

If you are truly unable to pay your bills and make debt payments\u00a0when they are due, and you cannot afford to make an offer to your creditors<\/strong><\/span> through a consumer proposal or Division I proposal,\u00a0bankruptcy may be the only viable option for debt relief.<\/p>\n

To make an assignment in bankruptcy, you work with Goldhar as\u00a0your Trustee in Bankruptcy to determine what assets<\/strong> <\/span>you have that\u00a0can be liquidated<\/span> <\/strong>as payment to your creditors. Many people who\u00a0file for bankruptcy have no assets to be liquidated<\/span>.<\/p>\n

Once you make your assignment in bankruptcy, all garnishments,\u00a0executions, and legal actions by creditors are stopped.<\/span><\/strong><\/p>\n

 <\/p>\n

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\u25cf\u00a0<\/span>you are required to fulfill certain\u00a0obligations to the trustee, including a\u00a0monthly reporting of your income and\u00a0expenditures
\u25cf<\/span> if you have income in excess of the thresholds set by the Superintendent of Bankruptcy, up to 50% of your deemed \u201csurplus\u201d is payable to the Trustee until you are discharged from bankruptcy
\u25cf<\/span> assets traditionally do not include such items as household furniture, clothing and your personal effects
\u25cf<\/span> usually you may keep your car\/vehicle; savings in an RRSP; your computer, etc.
\u25cf<\/span> if only one spouse goes bankrupt, the Trustee usually permits the other spouse to buy out the bankrupt spouse\u2019s share of the home equity<\/p>\n

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special circumstances for tax debtors<\/span><\/h1>\n

 <\/p>\n

When your biggest creditor<\/span><\/strong> is the Canada Revenue Agency, or the provincial Ministry of\u00a0Finance, there are some limitations to the debts you can relieve in a consumer or Division I\u00a0proposal or a bankruptcy.<\/p>\n

In a Division I proposal (made if your debts total more than $250,000) trust monies<\/span>,<\/strong> such as\u00a0the employee portion of source deduction remittances, must be discharged in full, inclusive\u00a0of any interest and penalties, within 6 months<\/span><\/strong>. This may not rule out a proposal, if you can afford monthly payments that are sufficient to discharge this portion of your debt within six months.<\/p>\n

The bankruptcy of a corporation will transfer<\/strong> <\/span>responsibility for HST and outstanding source deductions to the Director(s)<\/strong><\/span> of the corporation, who must then personally make a proposal\u00a0or file for bankruptcy to settle the debt.<\/p>\n

A CRA lien<\/span> against your home or property is not relieved<\/strong><\/span> through a proposal or bankruptcy.\u00a0In fact, the debt lives on and may continue to accrue interest. However, CRA cannot\u00a0register a lien after you have filed any of the following: a Notice of Intention; a proposal; a\u00a0bankruptcy. If there is the possibility that CRA is moving to register a lien, don\u2019t delay<\/strong><\/span> in\u00a0filing your Notice of Intention, proposal or bankruptcy.<\/p>\n

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effect on your credit rating<\/span><\/h1>\n

 <\/p>\n

Filing a proposal or an assignment in bankruptcy will have a negative impact<\/strong><\/span> on your\u00a0credit rating. A proposal will be reflected on your rating for 3 years after the fulfilment\u00a0of your proposal; a first bankruptcy will show for 7 years from the date of discharge.\u00a0Second and third bankruptcies remain even longer.<\/p>\n

That said, if you haven\u2019t been paying your bills on time, and\/or are in arrears on credit\u00a0cards, public utilities and other creditors, your credit rating is likely already low, and\u00a0won\u2019t improve until you take steps to settle your debts.<\/p>\n

Working with Goldhar now can get you back on a sound financial footing and help you\u00a0rebuild your credit rating.<\/p>\n

Once you have settled your debts, you can qualify again for certain credit cards and other\u00a0loans, such as car loans or a mortgage. Goldhar can assist you in rebuilding<\/strong> <\/span>your credit.<\/p>\n

 <\/p>\n

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don\u2019t be embarrassed<\/span><\/strong><\/h1>\n

Will the neighbours<\/span> <\/strong>know?
What will the children<\/strong> <\/span>think?
My mother<\/strong> <\/span>will be so upset\u2026
Can my boss<\/strong> <\/span>find out?
How will I face my family<\/strong> <\/span>?<\/span><\/p>\n

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It\u2019s natural to want to protect your privacy<\/strong> <\/span>and your dignity when you\u2019re\u00a0dealing with unmanageable debt.<\/p>\n

Here\u2019s the good news<\/strong><\/span>: nobody needs to know.<\/strong><\/span><\/p>\n

Working with a licensed Trustee in Bankruptcy permits you to come to\u00a0terms with your creditors confidentially<\/strong><\/span>. Your family, your employer, your\u00a0neighbours don\u2019t need to know<\/strong><\/span> a thing \u2013 unless you happen to be formally\u00a0indebted to them, which most often is not the case.<\/p>\n

Your Goldhar Trustee can help you work out what to say to the children<\/strong> <\/span>at\u00a0home. But believe us when we say that the kids will only notice your\u00a0smile.<\/strong><\/span> And they will be happier to see you bounce back to life.<\/strong> <\/span>So will your\u00a0mother, your community group, your friends, your brothers and sisters…<\/p>\n

There will be no visits to your home, no notices posted on the door.\u00a0The neighbours have no reason to know you are working with a Trustee in\u00a0Bankruptcy. And there is no need to contact your employer<\/span> <\/strong>\u2013 unless your\u00a0wages are garnished, in which case our contact will be of the best kind \u2013\u00a0to advise of the removal of the garnish.<\/p>\n

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Bankruptcy \u2013 exemptions<\/span><\/span><\/o:p><\/span><\/h1>\n

<\/span><\/span><\/span><\/p>\n

<\/span><\/span><\/span><\/p>\n

Once you have been declared bankrupt, Goldhar<\/strong><\/span>, as your trustee, will deal directly with your creditors on your behalf, and will hold the money raised by the sale of your assets in trust for distribution to your creditors.<\/p>\n

Certain obligations cannot be discharged<\/span><\/strong> by bankruptcy, including court-ordered alimony and child support payments; student loans (if you stopped being a student less than seven years ago); court-ordered fines or penalties; and debts arising from fraud.<\/p>\n

Your bankruptcy will not cancel<\/span><\/strong> the liability of anyone who guaranteed or co-signed a loan with you.<\/p>\n

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For the self-employed<\/span> <\/strong>and business owners<\/strong><\/span>.<\/p>\n

\u25cf\u00a0 \u00a0<\/span>The business debts of a sole proprietorship are discharged through your personal bankruptcy.<\/p>\n

\u25cf\u00a0 <\/span>You may not hold the position of director of a corporation while you are personally an undischarged bankrupt.<\/p>\n

\u25cf\u00a0 <\/span>the debts of a corporation will be addressed if\/when the corporation files a proposal or bankruptcy.<\/p>\n

\u25cf\u00a0 <\/span>Directors of a corporation may be assessed personally for the corporation\u2019s tax arrears related to the employee portions for CPP\/EI, employee income tax deductions at source and HST\/GST.<\/p>\n

 <\/p>\n

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Bankruptcy \u2013 obligations<\/span> and insights<\/h1>\n

 <\/p>\n

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1.<\/span> <\/strong>There is no free ride. You may be required to pay some amounts to your creditors, and any assets valued at over the allowable exception amount(s) will likely be liquidated by the trustee.<\/p>\n

 <\/p>\n

2.<\/strong> <\/span>A bankruptcy involves ALL your unsecured debts, including your tax debt.<\/p>\n

 <\/p>\n

3.<\/strong> <\/span>If there is equity in your home, it may not be necessary to sell your home. With appropriate approvals, the trustee may permit an arrangement for you to buy back your equity. When only one spouse goes bankrupt, the trustee may permit the other spouse to buy out the bankrupt spouse\u2019s share of the home quity.<\/p>\n

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4.<\/strong><\/span> If you are a sole proprietor, bankrupting your business is achieved through your personal bankruptcy.<\/p>\n

\n

5.<\/strong> <\/span>Tax arrears for trust monies (GST\/HST, PST, and employee portions of source deductions for EI, CPP and income tax), as well as vacation pay and employee severances, may be assessed personally to the directors of a corporation, should the business go bankrupt or cease to operate. Directors who are unable to pay these amounts personally may discharge the liability through a personal bankruptcy or proposal.<\/p>\n

\n

6.<\/strong> <\/span>There is a mandatory period during which you remain a bankrupt until you are discharged and then are fully clear of your debts.<\/p>\n

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7.<\/strong> <\/span>Failure to fulfill the duties of a bankrupt will extend the time before you are discharged, or may invalidate the bankruptcy \u2013 Which permits your creditors to pursue you anew.<\/p>\n

 <\/p>\n

8.<\/strong><\/span> While you are bankrupt, you cannot hold office as a director of a corporation or other organizations.<\/p>\n

 <\/p>\n

9.<\/strong><\/span> The trustee is an office of the court and is licensed insolvency professional. As such the trustee is obliged to represent both sides, meaning you and your creditors. The trustee is required to recover as much as possible for payment to your creditors.<\/p>\n

 <\/p>\n

10.<\/strong> <\/span>If you receive or become entitled to assets, win the lottery, or receive an inheritance or other substantial gift before the day of your discharge, you are required to disclose it to your trustee.<\/p>\n

[\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_text _builder_version=”4.7.7″ _module_preset=”default”]<\/p>\n

11.<\/strong> <\/span>Tax filings must be up to date. You must provide your trustee with pre-bankruptcy and post-bankruptcy tax returns for the year in which you are making your assignment. Any tax refunds owning to you will be paid to the trustee.<\/p>\n

\n

12.<\/strong> <\/span>GST\/HST refunds may be required to be paid to the trustee while you are an undischarged bankrupt.<\/p>\n

\n

13.<\/strong> <\/span>You are required to ensure that your trustee knows your current home address and telephone contact number at all times. If you move or get a new phone, change jobs, or have a change in salary, you must inform your trustee promptly.<\/p>\n

\n

14.<\/strong> <\/span>Your bankruptcy and discharge are a matter of public record. However, a notice of personal bankruptcy is not usually advertised in the newspaper and your employer is not normally notified. The neighbors will not find out. It is up to you to decide how or what to discuss with your family, including the kids. Your Goldhar Shed the debt counselor can offer you guidance, if you wish.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_divider _builder_version=”4.7.7″ _module_preset=”default”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” custom_padding=”|48px|||false|false” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

Final thoughts<\/span><\/strong><\/h1>\n

<\/h3>\n

Refer family and friends to Goldhar<\/strong><\/span>.<\/h3>\n

 <\/p>\n

we will not share your secrets. But we will help your family and friends Shed<\/span> <\/strong>the debt and rebalance for a fresh financial future.<\/p>\n

Suggest they call us at 1-866-649-8090<\/strong><\/span> for a free<\/strong><\/span>, no-obligation financial review. Or they may contact us online at www.realrulesofdebt.com<\/a>.<\/p>\n

If you need help with debt management in the future…<\/p>\n

Dont be shy. We can help<\/strong> <\/span>you again. It happens.<\/p>\n

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Contact<\/span> Us Today!\u00a0<\/h1>\n

[\/et_pb_text][et_pb_contact_form captcha=”off” email=”pdrt@goldhar.ca” custom_message=”You have a new message from the Real rules of debt website. ” _builder_version=”4.7.7″ _module_preset=”default” link_option_url_new_window=”on”][et_pb_contact_field field_id=”Name” field_title=”Name” _builder_version=”3.16″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_contact_field][et_pb_contact_field field_id=”Email” field_title=”Email Address” field_type=”email” _builder_version=”3.16″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_contact_field][et_pb_contact_field field_id=”Debt_Amount” field_title=”Debt Amount” required_mark=”off” fullwidth_field=”on” conditional_logic=”on” conditional_logic_rules=”%91{%22field%22:%22name%22,%22condition%22:%22is%22,%22value%22:%22%22}%93″ _builder_version=”4.7.7″ _module_preset=”default”][\/et_pb_contact_field][et_pb_contact_field field_id=”Phone_Number” field_title=”Phone Number ” fullwidth_field=”on” _builder_version=”4.7.7″ _module_preset=”default”][\/et_pb_contact_field][et_pb_contact_field field_id=”Message” field_title=”Message” field_type=”text” fullwidth_field=”on” _builder_version=”3.16″ button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”off” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”off” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”off” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_contact_field][\/et_pb_contact_form][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.7.7″ _module_preset=”default” custom_padding=”|||0px||”][et_pb_row _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_image src=”http:\/\/realrulesofdebt.com\/wp-content\/uploads\/2021\/01\/goldhar-real-rules-of-debt-home-page.png” title_text=”goldhar real rules of debt home page” align=”center” _builder_version=”4.7.7″ _module_preset=”default” width=”49%”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”3_5,2_5″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_column type=”3_5″ _builder_version=”4.7.7″ _module_preset=”default”][et_pb_text _builder_version=”4.7.7″ _module_preset=”default” text_font_size=”16px” text_line_height=”2.2em” text_orientation=”justified” width=”100%” min_height=”100px” custom_padding=”|0px||||”] When you can\u2019t cover the mortgage without mom\u2026 When the Canada Revenue Agency comes knocking\u2026 When you think you\u2019re […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-5","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/pages\/5","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/comments?post=5"}],"version-history":[{"count":21,"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/pages\/5\/revisions"}],"predecessor-version":[{"id":91,"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/pages\/5\/revisions\/91"}],"wp:attachment":[{"href":"https:\/\/realrulesofdebt.com\/index.php\/wp-json\/wp\/v2\/media?parent=5"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}