#Bankruptcy service in Alberta

[fishdonald]

Debt-Free: The Path to Financial Freedom and Mental Health

Embark on the path to financial freedom and improved mental health by becoming debt-free. Discover how debt relief can transform your life.

[anarkissm]

following the canon timeline for the legion, frank is 19 in 1996 (year of the murder and abduction by the entity), implying he was born in 1977. he was 6 years old when he was taken from his home in calgary (alberta’s largest city, the third largest city in canada) and tossed around foster homes across alberta. implying he was separated from his parents in 1983; this would have occurred during one of the worst recessions in global history; wages for low-wage workers rapidly declined, and the world price of oil collapsed. alberta’s economy plunged into a deep recession. oil companies, which were in massive debt due to years of exploration with no profit, filed for bankruptcy and curtailed, or abandoned operations in alberta altogether. by 1992, 25% of calgary’s population were living under the standard poverty line.

frank grew up in a densely populated, expensive city. when the recession reached calgary, his parents could not afford their apartment and were driven into houselesness, living out of their car. social services processed frank and separated him from his biological family. for days. then the days bled into weeks. into months. into years. his foster parents received fat checks to keep frank fed and sheltered. nothing else. in 1984, his parents froze to death in their minivan when the heater stopped working.  the local government took his survivor benefits and stored it in state coffers. frank never saw or spent it.

for the first five years, he screamed and cried and fought and repeatedly tried to run away. raging against the unfairness. spent two birthdays in a juvenile detention center for physically attacking a foster parent.

74% of all children in alberta’s foster care system are indigenous. first nation children make up 82% of canada’s permanent wards. the older wards used to call it the new residential schools. frank was a foster brother to many aboriginal foster kids, and he was often mistaken as one of them because of his features. when he was 15, frank attempted to contact his hualapai relatives in arizona; an effort to finally escape the cycle of foster homes. but frank’s efforts to reconnect with his estranged family were ultimately in vain. the legalities of immigration and blood quantum did not favor frank’s unique circumstances.

frank learned that no one was coming to save him. by design. so, fuck it. fuck them. and all the stupid fucking rules that stopped him from getting what he wanted.

frank’s trauma within the foster care system cultivated his overt/antagonistic narcissism and antisocial or “anti-society” personality. arrogance and aggression became a protective shield that cushioned the worst of his experiences, becoming vital to his survival and inseparable from his core self. with authority (police, foster parents, social workers, bullies), frank learned to watch for certain body languages, vocal tones. tells. their habits. their interests. their insecurities. he learned to use his intense observation skills to lie, manipulate, cheat, etc.. people were objects or assets, forgettable faces he would never see again as he constantly moved around foster homes.

for every town or city he was bussed to, frank would get a tattoo. to keep him focused. to remember. as a rule, his rule, frank only sticks around until the skin cools and the ink dries.

ormond, and the legion, became the only exception.

frank lived in ormond for three years, which implies he was 16 years old when he moved into the trailer park with clive andrews. in those three years, frank nurtured his obsession with julie, joey, and susie.

frank views the other members of the legion as tools. weapons. his favorite weapons. extensions of himself, like body parts. and, like his body, he protects them. appealing to their interests. infiltrating their darkest secrets, their insecurities. enabling their worst instincts. julie’s boredom. joey’s rejection sensitivity. susie’s loneliness. and frank’s anger, bleeding into them like a virus.

when the entity takes its killers, it makes an offer. if the offer is refused, the entity takes them anyway, and forces them to become its killers through supernatural torture. frank was offered an eternity with the only people he has ever cared about. no rules. no turbulent future. no way to separate them. together, forever.

he did not reject the offer.

[neenaparmar]

Top 15 Mortgage Brokers in Metro Vancouver, BC, Canada

Neena Parmar

Our mortgage professionals are experts in their field and many are ranked among the best nationally. Launched in January 2006, we were named Best Newcomer (Mortgage Brokerage Firm) at the prestigious CMP Canadian Mortgage Awards 2008 – the Oscars of the mortgage brokering industry. At the 2009 CMAs, we received the Best Branding Award, and again in 2010, with the addition of the prestigious title of Mortgage Brokerage of the Year and Best Advertising. At the 2011 Awards, we again walked away with the Best Advertising award, and in 2012 we were honoured with: National Broker Network of the Year; Best Advertising; and Best Branding.

Phone no- 604-825-0402 Address- 201 - 13049 76 Avenue Surrey, BC V3W 2V7, Canada Website link- https://neenaparmar.ca/

True North Mortgage Inc.

We've been here for over 17 years — giving Canadian home buyers a better choice to get a mortgage. Unified, salaried and armed with mortgage know-how, we've revolutionized the mortgage industry. We're proud to offer you the True North Advantage — online, over the phone, or at one of our locations across Canada.

Phone no- 1-877-778-4772 Address- True North Mortgage· 3600 - Bow Valley Sq II· 205 - 5th Ave S.W· Calgary, AB T2P 2V Website link- https://www.truenorthmortgage.ca/

GLM Mortgage Group

GLM Mortgage Group is well versed in obtaining financing for Self Employed and Commission Based Individuals who have low reporting income. Our Vancouver Mortgage Brokers also have valuable experience in clients with previous bankruptcies, unique properties, and even foreclosures.

Phone no- 604–259–1486 Address- 1001 West Broadway #164 Vancouver, British Columbia, Canada,V6H 4B1 Website link- https://geoffleemortgage.com/

Pioneer West

Pioneer West Acceptance Corporation is a mortgage broker and mortgage investment corporation (MIC), with offices in North Vancouver, BC and Calgary, Alberta. We strive to provide our borrowing clients with the best mortgage financing available for their specific needs.

Phone no- 1-604-987-1420 Address- 814 15th St W, North Vancouver, BC V7P 1M6, Canada Website link- https://pioneerwest.com/

Laina Saccone

Laina brings a diverse background of skills and professional experience to her role as a mortgage broker, serving clients in the Greater Vancouver area and across the province of British Columbia.

Phone no- 778.896.0605 Address-Mortgage Advisor, 2600-595 Burrard Street Vancouver, BC V7X 1L3 Website link- https://lainasaccone.com/

Ratehub.ca

Ratehub.ca became the first comparison service to integrate an in-house mortgage brokerage (the award-winning Ratehub.ca mortgage brokerage, formerly known as CanWise Financial).

Phone no- 1-866-988-6324 Address- 20 Queen Street West Suite 1100 PO Box 57 Toronto, ON M5H 3R3 Website link- https://www.ratehub.ca/

4Front Mortgage Brokers

As mortgage brokers, we strive to provide outstanding service as well as a variety of options and borrowing solutions for our clients. Since opening the 4Front Mortgages | Mortgage Alliance office, we have grown from 4 partners to 24 team members with diverse backgrounds and experience.With a combined total of over 155 years of experience in institutional lending, our brokers can get you the right lending package for your needs.

Phone no- (604) 738-8128 Address- 375 E Broadway Vancouver, BC V5T 1W6 Website link- https://4frontmortgages.com/

Reza Sabour

In my professional career I have spent over 15 years in the financial services industry working for the big banks before I decided to work as an independent Mortgage Broker. I made the switch because I was tired of putting my clients into a box of limited options that never fully met their needs.

Phone no- 778.229.4450 Address- #304 - 3053 Edgemont Blvd North Vancouver, BC V7R 2N5 Website link- https://www.sabourmortgages.com/

Sparo Mortgage

Helping first time home buyers or next home buyers is the foundation of our business. By providing helpful information and mortgage options with the most advantageous lenders matching their home ownership goals, clients are set-up for success.

Phone no- 604 329 9971 Address- 15252 32 Ave Suite 306 Surrey BC V3Z 0R7 Website link- https://sparomortgage.ca/

Sneg Mortgage Team

They are proud parents to their three daughters, Shira, Adi, and Maya. When they opened their Vancouver mortgage broker business, it was their goal to bring the value of unique, original thinking to the Canadian system for the benefit of our clients.

Phone no- 1 (604) 339-1577 Address- 601 West Broadway, Suite 400 Vancouver, BC V5Z 4C2 Website link- https://snegmortgageteam.ca/

Vu Le Mortgage Group

Here at Vu Le Mortgage Group, we are committed to finding all our customers the absolute best custom mortgage solutions that meet all their wants and needs. Whether you need to finance a new home, refinance an existing mortgage, or need to remortgage your home, we will use our expertise to find you the best fit for your financing.

Phone no- (604) 812-9119 Address-1665 Kingsway, Vancouver, BC V5N 2S2 Website link- https://www.vulemortgages.ca/

Tim Hill

As a licensed Mortgage Broker I have direct access to the best mortgage products, rates and promotions – many of which are only available through a Mortgage Broker.

Phone no- 604-210-2739 Address-206 - 19141 Ford Road Pitt Meadows, BC V3Y 2P8, Canada Website link- https://timhill.ca/

Arise Mortgage

Arise Mortgage is a direct lender and a licensed mortgage broker that serves clients to achieve their borrowing needs. With our professional team combined experience of more than 50 years in the industry, we have the expertise to provide the best solutions to all types of financing situations.

Phone no- 604-722-8404 Address-1385 W 8th Ave, #105 Vancouver​ BC V6H 3V9 Website link- https://www.arisemortgage.ca/

CAROL CHENG

With over 15 years of experience in the mortgage industry, I've helped over a thousand clients secure their mortgage. I have extensive experience with various mortgage products and niche properties.

Phone no- 604-716-8011 Address-2608 Granville St. Suite 550 Vancouver, BC Website link-https://www.carolcheng.ca/

Annie Tan Mortgage

I firmly believe that a mortgage broker's role is to be your ultimate and trusted mortgage partner. My core philosophy revolves around guiding you to the best mortgage options and ensuring you're fully aware of all available choices.

Phone no- 604.318.1292 Address-A201 - 9000 Bill Fox Way, Burnaby, British Columbia V5J 5J3, Canada Website link-https://atmortgage.ca/

[antoine-roquentin]

In 1807, Heinrich von Kleist published a short story called The Earthquake in Chile. Its heroes are a man sitting in prison and a woman in a convent, each confined for the crime of conceiving their child out of wedlock. All of a sudden, an earthquake hits, the buildings that house them collapse, and the couple rediscover each other in the wreckage. Seeking shelter in the woods, they meet people who know of their sin but welcome rather than judge them. In the flush of the emergency, all is transformed: “Instead of the usual trivial tea-table gossip about the ways of the world, everyone was now telling stories of extraordinary heroic deeds.” Exhilarated, the couple follows the masses to the only remaining cathedral, where to their horror, the preacher rages against their transgressions. At the climax of the sermon, the crowd identifies the pair and clubs them to death. The inverted world is gone as soon as it came.

As the Covid-19 contagion passed through China, Western Europe, and the United States, we had our own version of the earthquake. Lockdowns have merged with uncertainty about economic growth to crater oil prices and spike unemployment rates to heights with no historical comparison.

As has become routine during such shocks—from the 1997 Asian Financial Crisis to the Global Financial Crisis in 2008 to the victories of Trump and Brexit in 2016—the rumor ricocheted through the op-eds and articles, think pieces, and tweets, that neoliberalism was dead.

How could anyone claim that markets were the solution to all social problems when it was the countries with strong states and safety nets—Germany, South Korea, Taiwan—where the virus was under control and those with a libertarian streak—the US and the UK—where leaders hesitated to intervene and let different parts of the country outbid each other for life-saving ventilators, test kits, and face masks? Daily applause for frontline health care workers must mean new value for the agents of social reproduction. Generous tips for delivery drivers and gestures of solidarity with Amazon warehouse workers must mean a clear-eyed look at the underpaid labor that makes modern life so frictionless. Visions of blue sky over Delhi and Beijing, air pollution indices registering green in the center of Los Angeles, companies paying people to take barrels of oil they no longer wanted… Surely, after the pandemic we would recognize we had been living in a cursed world and this is the correct one. Humanity had an unearned chance for redemption.

But if we were the couple in the story taking refuge in the woods, we are all now streaming into the cathedral for the fateful service. In the past weeks, a $2 trillion rescue package breezed through US Congress that will overwhelmingly benefit large corporations and the super rich, not ordinary workers. Speculation of a bailout for the US oil sector will surely keep high-carbon capitalism churning onward, especially as the Environmental Protection Agency has lifted regulations for the duration of the crisis. In Canada, the premier of Alberta pledged $7 billion for its own cherished pipeline project. The value of nurses and other health care workers has been recognized in the United States, but only in the sense that they are one of the few exceptions in a presidential executive order that otherwise provisionally banned all immigration to the country.

America has found its own sin-drenched couple to turn on. This week a strategy memo urged Republican candidates to “Attack China.” More than half of Americans surveyed want reparations from China for the virus; the United States has defunded the World Health Organization in protest against its supposed subordination to the country; and the state of Missouri has sued the People’s Republic of China (and a string of associated institutions) in a domestic court. A Fox News commentator beloved by the president shouted that politicians must “start working on how you’re going to punish, ostracize, alienate, and financially sanction and make China accountable for what they did to us and the rest of the world.” A fragile unity will be restored—as it so often is—by targeting the outsider, the alien, the nonwhite person.

Without intervention, the community after the earthquake reconstitutes the one that preceded it. The interregnum extends only if there are social formations to carry it. And right now, the streets are empty, with would-be marchers self-distancing and juggling children and babies.

The leading mainstream political opponent to Trump is an elderly man in a Delaware basement with a habit of vanishing from the public eye for long stretches of time. Joe Biden was the safety candidate against an insurgent Bernie Sanders. He now sits in a bunker with no movement behind him.

We have seen a world where capitalism stops. But it will start again. When America “reopens,” it will be much like the old America. Big companies will be bigger, ever more beholden to the leader for having saved them. Arguments for austerity will return in the wake of the unprecedented spending.

The “thought leaders” in Trump’s recently announced Great American Economic Revival Industry Groups are all from the “free market” think tanks that have advised the GOP since the days of Ronald Reagan—Heritage Foundation, Cato Institute, Hoover Institution, American Legislative Exchange Council—they’re the priests arriving to give their sermon. The church of neoliberalism will be rebuilt and the flash of paradise in the emergency snuffed out.

For the real story, look up. Above the steeple, the vultures are circling. The Wall Street Journal predicts a wave of defaults, bankruptcies, and restructurings. Imperiled companies will see their devalued stock scooped by so-called distressed debt specialists, more commonly known as vulture investors, who make use of the generosities of US Chapter 11 law to strip employees of benefits or offload them to the state before flipping their acquisitions at a profit.

A pioneer in vulture investing and now the commerce secretary, Wilbur Ross praised bankruptcy in 2003 as “the corporate form of Darwinism.” Howard Marks, director of investment fund Oaktree Capital Management, was even more graphic in a recent letter to shareholders quoted in The Wall Street Journal. “Capitalism without bankruptcy is like Catholicism without hell,” he wrote, suggesting that federal bailouts shouldn’t shield market actors from “a healthy fear of loss.” He failed to add that people like himself have learned how to monetize the flames. His own Oaktree Capital Fund is reportedly raising “$15 billion for what would be the biggest-ever distressed-debt fund.”

The next year will be a litany of the “workouts and turnarounds” that bankruptcy specialists are known for, ruthlessly wringing the value out of companies, while ignoring the human or social costs. Distressed debt funds are the loan sharks of the business world, and will feel no compunction about pursuing the bottom line. We have seen a preview of such dispassionate calculation in the last month, as stock values soared alongside record unemployment numbers and mounting deaths. The combination seemed shocking to some people, even scandalous. “The stock market doesn’t care about your feelings,” was the response of a Los Angeles Times business reporter, “nor should it.”

[fatehbaz]

Not exaggerating, I do feel like I’m an involuntary witness to some kind of fantastical, horrific, and yet comedic fever dream. The hubris, the catastrophic failure in Alberta’s oil fields, and the cascading effects of Alberta’s actions, significantly altering the course of fossil fuel industries, Indigenous land management, and pipeline resistance at multiple pipeline and extraction sites across all of North America, all happening within only one month of time.

Early 2020: The value of a barrel of Alberta oil is now worth less than a single bottle of maple syrup.

24 February 2020: Even before pandemic quarantines become universal, headlines around the world ask: “Is this the end of the era of Alberta’s Tar Sands?” This is in response to the “death’ of the 21-billion-dollar Frontier project.” After 9 whole years of negotiation, a potential deal between Trudeau and a major energy company collapses. The Frontier project would have increased Canada’s oil production by 5% and caused devegetation of at least 25,000 acres of boreal forest. The deal involved Canadian federal approval of a T/e/c/k Resources project which would depend on the construction of the Keystone XL pipeline. T/e/c/k lost hundreds of millions of dollars in paying out-of-pocket for a regulatory review. In recent months, multiple global oil giants, including R/oyal D/utch S/hell and Con/ocoPhil/lips, announced they were ending investment in Alberta’s Tar Sands.

30 March 2020: Pandemic quarantines lead to operation closures in Alberta’s Tar Sands. Now, you could probably buy 2 barrels of Alberta oil for the price of 1 bottle of maple syrup.

31 March 2020: Regardless of nearly-worthless value of Alberta oil, and while Alberta recently reports a staggering 14 billion dollar deficit as pandemic spreads, on this day Alberta premier Jason Kenney announces that Alberta will donate over 7 billion dollars in investments and loan guarantees to the Keystone XL pipeline project designed to export oil from Alberta’s Tar Sands and into the Great Plains of the US. The portion of Keystone XL that needs to be built within US borders had been legally suspended since 2012, but revived by the US government in January 2020.

2 April 2020: Less than 3 days since the Alberta provincial government granted billions to Keystone XL, on this day, Athabasca Oil Corp. is forced to end their operations at the Tar Sands, also cutting their corporate staff by 15%. Over the past week, Alberta energy titan Sun/cor was forced to close one of its two oil lines at Fort Hills, potentially diminishing processing of 50,000 barrels of oil each day. On this day, Global News Canada also reports that most Alberta energy companies have lost 20% to 50% of their staff and cut their executive member salaries by 10%. Canadian energy companies cut $6 billion in expenditures in March, about 30% of oil operations. Canadian oil companies have cut output by over 100,000 barrels each day since pandemic arrived in North America.

Bonus round, extra news from 2 April 2020: The Sault Ste. Marie Tribe of Chippewa Indians and Bay Mills Indian Community, among other tribal communities, challenge the Michigan Public Service Commission during public comment sessions, asking Michigan to deny En/bridge Energy’s Great Lakes Tunnel Project. In the midst of pandemic, En/bridge said it would not delay submitting permits to build the tunnel. The project would service En/bridge’s Line 5 pipeline, which brings oil and natural gas from Superior (Wisconsin) to Sarnia (Ontario). It is expected that Michigan will make a decision on the permits within 1 to 4 months.

5 April 2020: On 3 March 2020, En/bridge Energy, based in Alberta, announced that the completion of their Minnesota pipeline might be delayed for a year. But then pandemic happened. On this day, the Minneapolis Star-Tribune reports that Alberta’s Tar Sands difficulties might yet be directly responsible for giving activists and Minnesota Public Utilities Commission good reason to finally end the construction of En/bridge’s $2.6-billion Line 3 fossil fuel pipeline in Minnesota. En/bridge had expected the Minnesota pipeline to be operational by the end of 2020.

6 April 2020: After waiting nearly a decade to build the infrastructure, the construction of the US portion of the Keystone XL pipeline finally begins on this day, at the border between Montana and Saskatchewan, as pipeline workers move into region despite how most people on Earth are told to stay indoors and not to travel. The Fort Belknap Indian Community, located close to this pipeline construction site, declares a state of emergency in response. Tar Sands operations in Alberta have lost billions of dollars in income in the past 3 weeks. 

16 April 2020: Less than  only 3 weeks since Premier Kenney announced Alberta’s donation of billions of dollars to Keystone XL, and only 10 days after the Keystone XL pipeline began construction, Native organizers from Rosebud Sioux reservation (South Dakota) and Fort Belknap Indian Community (Montana) convince a judge in a small Montana city to legally halt construction on important portions of the pipeline, citing the pipeline’s potential harm to the American burrowing beetle in Nebraska’s Sand Hills and riparian species like the pallid sturgeon.

20 April 2020: The value of oil drops below $0.00 for the first time in history.

Bonus round, extra news from 20 April 2020: As a result of the Montana ruling against Keystone XL, the US Army Corps of Engineers announces that dozens, or perhaps hundreds, of fossil fuel projects in the US must be immediately halted and reevaluated, since thousands of fossil fuel projects were inadequately assessed for ecological effects since 2017. The Permian Highway pipeline in Texas and the Mountain Valley pipeline in Virginia are also expected to be delayed, costing multiple oil/fossil fuel companies across the US millions/billions of dollars.

24 April 2020: Alberta’s highest court overturns prior approval from Alberta Energy Regulator and crushes a 440-million-dollar Tar Sands project in the Moose Lake region north of Fort McMurray, only weeks before the oil operation was set to begin construction, ruling in favor of the Fort McKay First Nation who successfully sought to protect a portion of their land considered sacred. Over 70% of Fort McKay First Nation’s land is already taken by mines. 

27 April 2020: 3 of the biggest Alberta energy companies report combined $4.8 billion in losses. Premier Kenney says he’s been told that Alberta will be liable for oversupply of worthless oil for at least 12-18 months.

1 May 2020: The developers of Keystone XL announce that the Montana court ruling might suspend the completion of their pipeline for over a year. US corporations and monitors of energy industries continue to say that the ruling’s effects “are hard to overstate” and are “a big deal,” which could cause legal challenges that would prevent pipeline construction for years and lead to bankruptcies.

---

Alberta ...

[allthecanadianpolitics]

Last week, Premier Jason Kenney became unusually flustered at a news conference in response to a question about energy transition and a “Green New Deal.”

In response, Kenney insisted that the only possible future of oil and gas is a bright one before questioning the reporter’s credentials. “That kind of question, in the middle of an economic crisis, from a Calgary-based media outlet — really frankly throws me for a loop,” Kenney said to the reporter.

His response comes at a time when Alberta crude is hovering near $1 a barrel, after cratering into negative territory just last week. This moment has only intensified the systemic risks that were already facing the patch.

Alberta is now facing world-shifting choices that will not only shape how we weather COVID-19, but also the overlapping crises that have shaped how the pandemic is playing out — job losses in oil and gas, eroding public services, systemic racism, and climate change.

We can expect to see billions in stimulus and recovery efforts in response to this moment. We can pour this money into the declining oil and gas industry as the Alberta government has started to do or we can invest in new sectors, strong health care and education, and a resilient society instead.

The answer has to be door No. 2. The world is starting to move on from oil whether Alberta is ready or not. There is no sales pitch good enough to convince people to invest in the most expensive source of a dying commodity. What we are seeing now is the beginning of an unmanaged decline that would put investors first and workers last. The collapse of Appalachian coal, where workers have had to blockade trains for unpaid wages because of overnight bankruptcies, provides a foreboding example.

Continue Reading.

Tagging: @abpoli​ @politicsofcanada​ @torontopoli​

[harris-partners-inc]

We are Licensed Insolvency Trustees providing bankruptcy options & consumer proposals across Ontario and Alberta.

Harris & Partners are a specialist licensed insolvency trustee (LIT) providing debt solutions to clients, with numerous offices in Ontario and across Canada. We understand the challenges businesses and individuals face when they find themselves in debt, and we aim to provide solutions to remove or at least reduce the burden. We service Markham, Calgary, Markham, St Catharines, Toronto, Hamilton, Pickering, Oshawa, Brampton, North York, Brantford, Waterloo, Ottawa, and Barrie.

Name: Harris & Partners Inc. Address: 8920 Woodbine Ave., Suite 300, Markham, ON, L3R 9W9 Phone: 905-479-5712 Website: https://www.harrisandpartnersinc.com/

[chrisosullivanfinancing]

What You Should Have Been Taught About Credit Post 2 of 10

 The Black Swan

Mortgage Group

Not paying your credit bills on time has the same effect on your credit. Be it a late credit card, line of credit, or car payment. If the creditor reports to either TransUnion or Equifax, your credit report will have that blemish on it. The late payment will lower your score each month that it is late.

For example, if you miss your due date but pay it within 30 days of that date your score will lower. If the bill isn’t paid within that 30 days but under 60 days your score will lower a lot more. If you don’t pay your bill within 90 days or more, you will really hurt your credit score. Your score will continue to lower until your account is up to date.

The late payment will be on your report for 6 years. For every month that you are on time with your payments, the late payments will have less and less affect on your score. NSF fees are not reported to the credit reporting companies. However, they could prevent you from getting the best rates from that bank in the future.

Lending companies rarely care about the events that have led up to you not being able to pay a bill on time. If you are making payments from one bank to another, it takes 2-3 business days for that payment to be processed. If you pay a bill a day before the due date, you could still have a late payment on your credit report because of this.

Cell phone companies can report to TransUnion or Equifax. Lots of Canadians, make this mistake of not paying this bill on time and getting dinged on their credit report for it. Even when disputing the bill, pay the balance or your credit will take a hit. If a phone bill isn’t paid within 60-90 days, the collection process will start. This will cause your credit to get hit hard until the collection bill is paid. Paying the bill and then dispute it later. The collection will stay on your credit report for 6 years. Anyone telling you different is lying to you. Don’t be mislead by American websites. Once the collection is on your credit report, it doesn’t matter if you pay the full amount or settle for a dollar. A fully paid or partially paid collection has the same affect on your credit report. Make sure you get a receipt and an email stating the account has been settled.

Mortgages show up on your credit report and affect the score. Late payments will cause your current lender to not give you their best rates at renewal or to renew you at all. Getting a new mortgage from another lender will be tough. Mortgage lenders don’t want to see late mortgage payments. They can look past a couple of late payment from other creditors, but not on mortgages. Three or mor missed payments will start the foreclosure process. The foreclosure will show up on your credit report as well.

Foreclosures are much worse than a bankruptcy. Bad credit can be rebuilt quickly, but having a foreclosure show up would be devastating to receiving an A mortgage lender to give you a mortgage in the future. It won’t matter what your future credit score looks like. You may be able to get around this by providing a larger down payment to do a purchase, with a higher interest rate.

A bankruptcy and foreclosure will stay on your credit report for 6 years if you live in BC, Alberta, Saskatchewan, Manitoba, Nova Scotia, or one of the Territories. It will stay on your TransUnion report for 7 years if you live in Ontario, Quebec, New Brunswick or Newfoundland. In PEI, a foreclosure will stay on your Equifax report for 10 years and your TransUnion report for 7 years. A bankruptcy in PEI will stay on your report for 6 years with Equifax and 7 years with TransUnion.

If you find yourself in a situation where you can’t make the bill payments. Just be proactive and contact them before the due date.

Helping Your Bruised Credit, Self-Employed and Commissioned Income Clients

Secure A Mortgage Easily Without You Having to Worry About the Service They Receive

[versatileca-blog]

Best Legal Structure for Small Business

When you start a small business in Calgary, one of the items on the long list of things to attend to is choosing a legal structure. What is the best legal structure for your small business? This choice depends on several factors. Will you be going into business on your own or with someone else? How much liability are you willing to accept? What choice or choices will result in the best tax implications? Do you want to have Alberta (or any other province) as your jurisdiction or is it better to have a federal jurisdiction? You can find out the answers to these questions by sitting down with us at Versatile Accounting.

We have been providing chartered accountants Calgary, tax, and assurance services to clients in Calgary and throughout Alberta for years. What follows is a brief rundown of the various business structures, their advantages, and disadvantages. Always remember that while you can change the legal structure of your business along the way, it may be more efficient and cost-effective to make the right choice when you first start your business. This is another matter in which we have the experience to help you make the right choice.

Sole Proprietorship in Calgary

This is going into business on your own. A sole proprietorship is the least expensive legal business structure and the most simple. You own the business, manage the business, hire employees, and pay them. The law will consider you and your business to be the same entity.

This business model and legal structure appeals too many who want to run their own business, not work for someone else, and have control over all operations. With a sole proprietorship in Calgary, the owner takes all of the profits and accepts the risk of any and all losses. The sole proprietor pays all of the taxes on their personal tax return. When you sit down with personal tax accountant Calgary, we can explain how any of your business creditors will not only have a claim against your business assets but your personal assets as well. Likewise, anyone who is hurt either while on the job in your workplace or there as a customer or visitor will be able to sue you personally for damages. This sort of “unlimited liability” is commonly seen as the most important “downside” to a sole proprietorship for a company that works with a large market, has lots of employees, and provides lots of services to the general public.

There are tax implications of a sole proprietorship of which we will advise you. Because, under Canadian and Alberta law, you are one and the same with your business for tax purposes. Your net business income will be included in your personal tax return. A useful aspect of this fact is that if your new small business suffers a loss, you can deduct the loss from your other personal income. Of course, a successful small business will make a profit and that is added to your personal income for tax purposes. To the extent that this “extra income” bumps you up into a higher tax bracket that can be a pain.

A sole proprietor will need to obtain licenses as required for their type of business such as the Goods and Services Tax-Harmonized Sales Tax Account (GST/HST), municipal permits, and the like. At Versatile Accounting we can help you with the bookkeeping services Calgary and tax services Calgary related to these requirements.

Sole Proprietorship Pros and Cons in Calgary

Sole Proprietorship Advantages:

You own everything and take all of the profits

Sole Proprietorship Disadvantages:

There is no limit to your personal liability

Why Choose a Sole Proprietorship for Your Small Business in Calgary?

If you do not expect any liability issues, want to deduct early financial losses from your personal income for tax purposes, and want to keep initial costs down, pick a sole proprietorship. As always, talk to us at Versatile Accounting in Calgary if you have any questions.

Partnerships in Calgary

Business partnerships consist of one or more owners who put their resources and efforts together to make a new business work. Management can be “by committee” or one partner can be the manager. This does not affect the partnership legal structure. For the purposes of taxation, all partners are usually considered business owners and each one is liable for business debts and expenses. This may be different for some partners in a limited partnership which is one of many reasons to discuss this legal structure option with us at Versatile Accounting.

Partnerships need licenses, permits, and the like. These requirements will vary according to the business.

As with a sole proprietorship, you can run a partnership using the exact names of the partners. Then there is no need to register your business name. If you use any other name, you will need to register the business name in Alberta and will be wise to make sure that the name is unique to avoid taking an already-registered name and to avoid legal difficulties.

A major issue with partnerships is defining responsibilities and rights of each partner from the very beginning. Too many partnerships break up because this was not done properly at the beginning. Ask us at Versatile Accounting in Calgary and we will be pleased to refer you to a competent attorney to draw up the papers you need.

General and Limited Partnerships

There are two kinds of partnerships in Alberta to consider. These are general partnerships and limited partnerships. Both are partnerships in which two or more individuals contribute their time and resources and share in profits and losses. Here are the differences.

A general partnership is what is created when two people start a business together and not specifically create a limited partnership. All partners have equal liability, say in the business, and right to profits.

A limited partnership has both general and limited partners. The general partners manage the business, get a larger share of the profits, and are liable for business losses and debts just like partners in a general partnership. The limited partners are essentially investors whose sole contribution is investment capital. They do not have a say in how the business is run. They will make less of a profit but will not be liable for business debts and losses. Their sole risk is the loss of their investment capital. And, limited partnership shares can be transferred without having to sell the business. In order to form a limited partnership a “Partnership Declaration” must be filed.

Advantages and Disadvantage of Partnerships in Calgary

Partnership Advantages:

Partners are in charge of and own all business assets

The work of management is done by more than one person

Regulation of a partnership is limited

Although the business needs separate accounting and tax prep, each partner only has to file their own personal tax return

This is a less expensive business setup than for a corporation

Several partners share in the initial investment

Profits are shared by partners and losses can be deducted from personal income

Partnership Disadvantages in Calgary:

Liability of general partners is unlimited and can result in personal bankruptcy

Actions of one partner can be binding on and result in major problems for other partners, even when not consulted

Management-by-Committee can be tedious and inefficient

Finding partners you can work with can be difficult

The business ownership cannot be transferred unless the business is sold although minor partners in a limited partnership may sell their shares

This is a slightly more expensive business set up than a sole proprietorship if a partnership agreement is required.

Raising investment capital can be difficult

This is a good business structure for people who can work together, can benefit from shared skills, and when liability issues are unlikely.

Talk to us at Versatile Accounting in Calgary regarding how to “write off” early business tax losses in your partnership against your personal income.

Corporations for Calgary Businesses

When you are just starting a small business, you will want to keep costs down and this often means starting with a sole proprietorship or general partnership. However, there can be distinct advantages to incorporating your small business as we note in our blog article of that title. With a corporation you will have limited personal liability, the business does not have to be sold when an owner leaves or dies, and getting investment capital can be easier.

From the taxation viewpoint, there are ways to share or split income within your family from corporate income and there are tax advantages such as the Small Business Tax Deduction (SBD) for Canadian controlled corporations. This can run as high as $500,000!

While we generally think of Calgary corporations like Suncor Energy Inc., Imperial Oil Ltd., or Enbridge Inc., a corporation can have only one person who owns all of the corporate shares and runs the business. And, a large business size is not necessary to incorporate. Versatile Accounting provides professional corporate tax services in Calgary to corporations large and small. We also provide bookkeeping services for corporations and well as other small business structures.

In general, there are three reasons to consider a corporate business structure:

Limited liability

Corporate tax advantages

Ability to raise capital by selling shares

Disadvantages of a corporate structure include these:

Double taxation of corporate profits by the corporation and dividends by shareholders

Dilution of ownership if you sell too many shares

More expensive than setting up a sole proprietorship or general partnership

A big part of why you may choose a corporation over another business structure may come from careful tax planning. It is a fact of life that too many times the results of good ideas and hard work can be diminished by sloppy tax planning. Contact us at Versatile Accounting for help in determining how your business structure will affect your taxes for your particular business.

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While economists and bankers might scoff and laugh at such an unorthodox approach as to base currency on a goods standard, such a standard, rather than one that is based on debt, has been used many times throughout history in many states. The Confederate States of America based their “graybacks” on a cotton standard, bypassing international finance when the money markets were denied to them (despite much nonsense being written of the Confederacy as a “tool of the Rothschilds”). Guernsey Island has used a local currency since the mid-19th century, first being issued to stave off bankruptcy and a crumbling infrastructure for lack of currency. The Governor of French Canada during the 17th century cut playing cards into pieces and circulated them as currency when France was too bankrupt to send him money, and goods and services long proceeded to function normally with these pieces of card. The Wara vouches brought prosperity to a German town when the rest of the country was in Depression. On the other hand, like Koloniovo, there have been other localities that have issued currencies or exchange tokens during times of economic crisis and have been brought to heel by the state authorities. The “stamp scrip” successfully issued as exchange tokens in the town of Woergl, were banned by the Austrian state in 1933. In 1938 the Supreme Court of Canada prevented the Social Credit Government elected in Alberta from issuing provincial currency.

Kerry Bolton, “Kolionovo v. Usury: A Lesson for the World” 

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5 Essential Things To Do When You First Arrive in Canada

Are you considering moving to Canada? Once they arrive, newcomers must complete a number of tasks to get ready for their new life in Canada. Despite the fact that the procedure can seem intimidating, the Canadian government provides numerous resources to aid immigrants at every stage. The top five things to do when you first arrive in Canada are listed below.

1. Housing

When you arrive in Canada, you will need a place to reside right away. Before you arrive, make a reservation for some temporary housing to save yourself some hassle. The majority of hotels and hostels let you book a room online, making them excellent choices for short-term lodging. You can begin investigating a more long-term solution once you have more information about the area where you intend to reside.

2. Health Insurance

The public health insurance programme is open to Canadian citizens and permanent residents. Once you've decided which province you'll live in, learn what the provincial plan covers. Each province and territory has its own health insurance plan.

New residents may have to wait up to three months in some provinces before becoming eligible for government health insurance. While you wait, you might get private insurance to cover your needs. For any services that your province's public plan does not cover, you can alternatively get private insurance. Some firms in Canada additionally provide their staff with additional health insurance.

Contact your provincial ministry of health for information about getting health insurance:

Alberta

British Columbia

Manitoba

New Brunswick

Newfoundland and Labrador

Northwest Territories

Nova Scotia

Nunavut

Ontario

Prince Edward Island

Quebec (in French only)

Saskatchewan

Yukon

3. Social insurance number

To work in Canada, you require a Social Insurance Number (SIN), which is a nine-digit number. You require it in order to participate in government programs and receive benefits. One can be requested in person at a Service Canada office or by mail. To establish your identification and status, you must present an original main document, such as a permanent resident card or proof of ongoing residency.

4. Canadian bank account

As soon as you can, you ought to create a bank account in Canada. Even if you don't have a job, a permanent address, money to deposit into the account, a good credit rating, or have filed for bankruptcy, you can open a personal bank account in Canada. All you have to do is visit a bank in person and show proper identification. Your bank's teller will be able to guide you through the procedure, and many banks offer special services for immigrants to Canada.

5. Connect with your community

It can be frightening to relocate, especially if you don't know anyone there. Not only will making new acquaintances make you feel more at home, but it will also expand your professional network and aid in job search in Canada. It can be highly beneficial for newcomers to be connected with other immigrants or Canadians through immigrant-serving groups. Additionally, you may provide your time to charitable organizations, schools, or community centres in your area. There are numerous ways to get involved; look for events you can attend to meet people who share your interests.

Do you require assistance completing your immigration application to Canada? Discover all of your possibilities by completing our free online evaluation right now!

Settlewise International offers canada pr consultancy in ahmedabad, Start-up visas and Investment visas for Canada in Ahmedabad.

[olgagarmash]

Are Fitness Buffs Going Back to the Gym? – The New York Times

The 5:30 a.m. alarm to hit the spin class. The interminable waits for the ab-crunch machine. The masses of sweating bodies huffing and puffing just feet away, followed by the hurried shower and the wet-haired hustle to the office before the boss arrives.

America’s gym habit always involved its share of hassle and expense. And then came the pandemic.

So what now? As the world reopens — or at least, we hope it does — a wounded health club industry is banking on pent-up demand to drive a gym renaissance. Will this happen? Or will workout warriors, after a year exploring virtual and outdoor alternatives, come to see their old gyms as fitness anachronisms, like a Richard Simmons “Disco Sweat” workout VHS from the Clinton years?

Consider Henry Lihn, 40, a tech entrepreneur in Manhattan. Before the pandemic, he would hit an Equinox gym in SoHo or Greenwich Village at least four mornings a week to lift weights, box or do yoga.

He wouldn’t dream of it now. “The gym is a raging dumpster fire of Covid bacteria and hamster wheels,” Mr. Lihn said. “I’m never going back.”

Instead, Mr. Lihn has adopted a socially-distanced outdoor regimen: he bikes the West Side Highway twice a day, plays tennis on public courts in Brooklyn, and does chin-ups on walk-signal cross bars. The wind in his face, the sun on his cheeks, he is hooked. A few weeks ago, he canceled his gym membership.

The uncertainties around the Delta variant have not encouraged some former group exercisers. “I have zero interest in going back to the yoga studio,” said Heidi Kim, 33, a tech consultant in Los Angeles, which recently reinstated mandatory masks for indoor public spaces. “Of the many things I want to do indoors, sweating with strangers is not high on the list.”

Instead Ms. Kim now stays in shape with outdoor distance runs and muscle toning courses on the fitness site, the Sculpt Society.

Others have come to believe that they no longer need to pay as much as $200 or higher per month to exercise when they could invest in a few pieces of home equipment and get the same results.

“Working out at home with Beachbody on Demand and free workouts from Instagram influencers have worked really well for me,” said Danielle DeBoe Harper, 44, a creative director for a home fixtures company in Cleveland. “So for now, at least, my budget priorities no longer include a line item for a gym membership.”

Plus, there is the added convenience of not having to spend time traveling back and forth to the gym, changing into workout clothes and then showering — which can take as much time as the workout itself.

Others have found that the sense of community and socializing they found in a fitness club can be easily replicated outside it.

After his Equinox branch closed, Harry Santa-Olalla, 34, an auctioneer who lives in the Dumbo neighborhood of Brooklyn, formed a fitness pod last summer to sweat through hill sprints and burpees with a few friends, including the “Games of Thrones” actor Kit Harington.

Working out in this tight-knit crew, they were able to motivate each other and help keep each other grounded in a difficult time.“Two more guys joined today,” Mr. Santa-Olalla said. “They’re coming along to a barbecue I’m hosting tomorrow on my roof. That would have never happened in a gym.”

That sense of camaraderie can also be found at home, with group spinning classes on Peloton and personal trainers on Zoom.

“From the first day I owned the Peloton, I rode every day for 4 months straight,” said Amy Lin, 32, an elementary schoolteacher in Calgary, Alberta, who ditched her pricey gym and personal trainer for a Peloton group called Lonely Bikes Club.

In a year filled with isolation, fear and, in her case, grief (her husband died last year of a non-Covid related illness), her new routine gave her a sense of belonging. “Because of this fancy bike that goes nowhere,” Ms. Lin said, “I have somehow kept going on.”

Another pandemic fitness hack — the Zoom personal trainer — has retained its appeal, even after gyms reopened. “People love it,” said Michael Gabryszewski, 26, a personal trainer in Rhinebeck, N.Y. “It eliminates the commute, which is a big barrier to fitness. So instead of doing one session a week, you can do four or five, because it doesn’t take too much time out of your schedule.”

Virtual gyms and trainers appear to have staying power. According to a recent McKinsey & Company survey, 70 percent of people who used online fitness programs during the pandemic plan to stick with them long-term.

Gearing Back Up

All of this may seem ominous for the future of gyms, which have been a fixture in American culture at least since John Travolta was wearing short shorts and grinding in aerobics classes in the 1983 movie, “Perfect.”

Some 22 percent of the nation’s fitness facilities closed permanently during the pandemic, according to IHRSA, the Global Health & Fitness Association, with 1.5 million industry employees losing their jobs since the beginning of the pandemic.

“Being shut down for six months was clearly a very dark time,” said Todd Magazine, the chief executive of Blink Fitness, a national chain of affordable health clubs that endured furloughs and layoffs. “We’re predominantly a brick and mortar business.”

But there are reasons for optimism, too. Plenty of Lycra-clad sweat obsessives seem to be hearing the siren call of the StairMaster once again.

As Covid restrictions have eased in some regions, gym traffic is back to more than 80 percent of the pre-lockdown levels of January 2020, according to a recent survey by Jefferies, the financial services company (it’s worth noting that gym membership reached record levels in 2019, according to the IHRSA).

A rebound is evident at Blink Fitness, where sign-ups last month, normally slow season for gyms, equaled those of January 2020, usually a frenzied month for gym-goers trying to make good on New Year’s resolutions, according to the company.

Gold’s Gym International, which filed for bankruptcy in 2020, was recently acquired by RSG Group, a German fitness company, for $100 million. The 24 Hour Fitness chain, which closed 100 clubs and filed for Chapter 11, emerged from bankruptcy last December following a restructuring.

Business is booming at some smaller gyms, as well. “Our numbers were stronger this past quarter than they ever were,” said Jenny Liu, the president of Dogpound, a high-end boutique gym focused on one-on-one training with locations in TriBeCa and West Hollywood.

For some fitness freaks, there is a larger reason to return to a gym: it’s the kind of thing people didn’t even used to think about doing before the pandemic.

This past July, Sarah Goldsmith, 36, a communications associate for a public affairs firm in Washington D.C., returned to her rigorous pre-Covid gym routine: almost every day, usually starting around 5:15 a.m.

“I’ve been sore almost every day since,” Ms. Goldsmith said. “For me, that is a big part of feeling normal again.”

source https://wealthch.com/are-fitness-buffs-going-back-to-the-gym-the-new-york-times/

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