Harris & Partners - Licensed Insolvency Trustee

11/04/2026

New on The Paydown from Kyle, one of our Licensed Insolvency Trustees:

Fell behind on your Ontario mortgage? What the law says happens next, and what a proposal does not change

With Ontario mortgage arrears forecast to keep rising, here is how default, power of sale and the right to catch up work in Ontario, and what a proposal can't do.

With Ontario mortgage arrears forecast to keep rising, here is how default, power of sale and the right to catch up work in Ontario, and what a proposal can't do.

11/04/2026

Thinking about a consumer proposal? Here are three things to hold off on until you've talked to a trustee.

1. Paying back family, or one creditor you feel worst about, first. It feels like the decent thing to do, but your trustee has to look at your recent finances and report to every creditor. In a bankruptcy, payments like that can even be reversed.

2. Putting your car, savings or other things into someone else's name, or selling them cheap. Those moves can be questioned later.

3. Taking on new debt you can't pay back. Your creditors see your full financial picture before they decide on your proposal.

The best thing you can do is bring everything to your first meeting, even the parts you'd rather not talk about. That's how we build a plan that actually works for you.

1-800-268-8093
harrispartners.ca

11/03/2026

New on The Paydown from Jay, one of our Licensed Insolvency Trustees:

Mortgage arrears are rising from a low base, and two new reports say the first strain showed up elsewhere

Mortgage arrears are rising from a low base. CMHC and CIBC both say strain appeared in other debts first. Here is the long view on filings and what to watch.

Mortgage arrears are rising from a low base. CMHC and CIBC both say strain appeared in other debts first. Here is the long view on filings and what to watch.

11/02/2026

Can I be sued while I'm in a consumer proposal?

In most cases, no. Once your proposal is filed, the creditors in it have to stop. No new lawsuits, no garnishments, no carrying on with a court case for those debts. That protection lasts while your proposal is in place.

A few exceptions, so there are no surprises:
Keep paying your mortgage and car loan. Those lenders keep their rights if payments fall behind.
Support payments are not covered.
A creditor can ask a judge to make an exception, and the judge decides.
If someone co-signed for you, your proposal doesn't protect them.
If you fall three payments behind, the proposal ends, and so does the protection.

If you're being sued over credit card or loan debt right now, call us before your court date. The first conversation is free.

More on missed payments: https://harrisandpartnersinc.com/blog/what-happens-if-you-miss-a-consumer-proposal-payment/

1-800-268-8093
harrispartners.ca

10/30/2026

New on The Paydown from Adam, one of our Licensed Insolvency Trustees:

What does a quarter-point rate move cost? The arithmetic for variable-rate debt

A 0.25-point rate change adds about $21 a month in interest per $100,000 borrowed. See how that works for lines of credit, HELOCs and variable mortgages.

A 0.25-point rate change adds about $21 a month in interest per $100,000 borrowed. See how that works for lines of credit, HELOCs and variable mortgages.

10/30/2026

If you have a line of credit or a variable-rate mortgage, you may have seen the news this week. The Bank of Canada raised its rate by a quarter point.

Here is what that means in real dollars: about $50 a year in extra interest for every $20,000 you owe at a variable rate.

For a lot of people, that is manageable. But if gas and groceries have already stretched your budget, it might be the payment that makes everything feel heavier.

If that's where you are, you're not alone, and you have more options than you might think. Talking to a Licensed Insolvency Trustee is free, and there's no pressure to decide anything.

1-800-268-8093
harrispartners.ca

10/29/2026

New on The Paydown from Kyle, one of our Licensed Insolvency Trustees:

Behind on payroll or HST remittances? When a director can be personally liable to the CRA, and what limits it

Directors can be personally liable for unremitted payroll deductions and GST/HST in some cases. Here is how the CRA's rules work, including the two-year limit.

Directors can be personally liable for unremitted payroll deductions and GST/HST in some cases. Here is how the CRA's rules work, including the two-year limit.

10/28/2026

New on The Paydown from Joshua, one of our Licensed Insolvency Trustees:

Gas is up 27.8% from a year ago. How to stress-test your budget before it strains your debts.

Gasoline prices rose 27.8% in September from a year earlier, per Statistics Canada. Here is how to check whether your budget and debt payments can absorb it.

Gasoline prices rose 27.8% in September from a year earlier, per Statistics Canada. Here is how to check whether your budget and debt payments can absorb it.

10/28/2026

How much of my debt would a consumer proposal forgive?

It's one of the most common questions people ask Google, and the honest answer is that there's no set percentage. Your offer is built around your income, your household and your living costs, so it's a payment you can actually keep up.

Here's how it works. A Licensed Insolvency Trustee works out an offer with you. Your creditors then have 45 days to respond. If none of them asks for a meeting, it's treated as accepted. You get up to five years to pay, interest stops, and you make one monthly payment instead of juggling bills.

When the last payment is made, the rest of the debts in the proposal is gone, apart from a few kinds the law excludes, like support payments.

Want to see what your number might look like? Here's more on how it's worked out: https://harrisandpartnersinc.com/blog/how-much-does-a-consumer-proposal-cost/

1-800-268-8093
harrispartners.ca

10/27/2026

New on The Paydown from Jay, one of our Licensed Insolvency Trustees:

A rate hike is on the table. Here is what the last rate cycle did to insolvency filings.

Economists are split on whether the Bank of Canada raises rates Oct. 28. Annual OSB data shows how consumer insolvencies moved through the 2022–2025 rate cycle.

Economists are split on whether the Bank of Canada raises rates Oct. 28. Annual OSB data shows how consumer insolvencies moved through the 2022–2025 rate cycle.