COUNSELLING

In the early 1990s, Industry Canada (the Office of the Superintendent of Bankruptcy) recognized the rise in repeat bankruptcies by consumer debtors in Canada.  In an attempt to reduce these numbers, the Bankruptcy and Insolvency Act (“the BIA”) was amended in November 1992 to introduce mandatory counselling for consumer debtors.

Since that time, debtors who take part in the legal process of a consumer proposal or a consumer bankruptcy are required to attend a minimum of two financial counselling sessions with a BIA qualified counsellor.

The purposes of these sessions are to address money management issues, spending and shopping habits, warning signs of financial difficulties and obtaining and using credit wisely.  Time is also taken to identify the non-budgetary causes of bankruptcy, to better understand behavior with regard to financial and consumption habits and to be made aware of the resources that can help maintain economic stability.

At Salyzyn & Associates, we have the firm belief that the effort we put into our counselling sessions does make a difference in the future of your finances.  We design a counselling program to address your individual financial challenges.

Please take advantage of the resources and information in this section of our site to improve your financial future.