When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
Success Story: Settling a Personal Tax Debt
An accountant we know, recently referred us a client who owed over $230,000 in personal income tax. The accountant had attempted to negotiate a payment arrangement including a reduction of the tax debt. However, negotiations had been unsuccessful. Background information and our engagement We obtained the following general information regarding the client and her tax… Read more »
Success Story: Settling a Mortgage Shortfall Debt
We have written in the past about how we have assisted clients settle mortgage shortfall debts, you can view them here and here. We are constantly helping clients settle mortgage shortfalls and this is another example of how we helped. Background Information We were contacted by Tim and Sarah (not their real names) about a debt… Read more »
Formal insolvency options to deal with your personal debt? What’s best for you.
We are aware of the pressures faced by individuals in financial distress. We can assist you in understanding the options available to deal with your debt.
Own a rental property worth less than the mortgage? 3 Steps to avoid bankruptcy…
With investment property values falling – sometimes below the mortgage value – take these 3 steps to avoid the bankruptcy & find a better outcome…
Debt Agreement vs Bankruptcy: What’s best for you?
A debt agreement or bankruptcy are two options if you are facing financial difficulty – but how do you know which is best for you? The differences are explained here…
Considering the benefits of a debt agreement? We take a closer look here.
Considering a debt agreement? Go in with your eyes wide open: find out what the main benefits are but also understand some of the red flags to look out for…
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