Charla Smith & Company Ltd.

09/20/2025

The possibility of having their wages garnished is something people in debt tend to lose sleep over. Knowing what to expect and how to handle it if garnishment does happen can help ease some of the anxiety.

In Canada, the rules for wage garnishment are set provincially. In Alberta, the rules are governed by the Civil Enforcement Act.

If you or someone you care about are at risk of having their wages garnished, here are some things you should know.

https://csmithco.ca/pages/worried-about-being-garnished-what-you-need-to-know-in-alberta

08/30/2025

If you’ve been getting collection calls, no doubt you’re feeling overwhelmed and stressed out. That’s by design – one of the best ways to get you to pay your bills is to motivate you to voluntarily pay some or all of the debt just to make the calls stop.

In Alberta, debt collectors must follow strict rules outlined in the Consumer Protection Act and related regulations. There are several things that collectors can or cannot do based on what you say to them, so knowing these rules will help you figure out what to say when they call.

This blog post provides some details on the rules to give you knowledge to help you protect your rights and reduce unnecessary stress while you decide your next steps.

https://csmithco.ca/pages/dealing-with-debt-collectors-in-alberta

08/02/2025

According to ChatGPT, this is the most common question Albertans ask about debt help, so I wrote a little article to answer it.

TL;DR: you really need to call a Licensed Insolvency Trustee to truly find out which option is better for you. Bonus: they may be able to steer you toward other viable options.

https://csmithco.ca/pages/is-a-consumer-proposal-better-than-bankruptcy

06/06/2025

This is a great article from Money Mentors about consolidation loans.
Definitely recommend checking it out if you or someone you care about is considering consolidation.

In addition to their advice, a Licensed Insolvency Trustee is also a good option for advice on options before moving forward with a consolidation loan.

Debt consolidation can help you simplify payments and reduce interest, but it can also backfire if done wrong. Learn the top mistakes people make and how to consolidate debt the smart way.

05/31/2025

When you owe money to the Canada Revenue Agency (CRA) and you've received a Notice of Collection, the problem isn't going to go away. The CRA has unique and powerful ways to collect, such as wage garnishments or bank account freezes that can be undertaken without first taking you to court, and since their debt rarely becomes statute-barred they won’t typically stop until they have exhausted all options to collect, unless you make an insolvency filing that provides a stay of proceedings. The good news is that if you can afford to pay the debt over time, the CRA does offer payment arrangement options if you act early and responsibly.

Here are some things to know and consider before you negotiate a payment arrangement with the CRA.

https://csmithco.ca/pages/negotiating-a-payment-arrangement-with-the-cra

05/17/2025

After settling your debt through a Consumer Proposal, you are always free to pay out the proposal earlier than specified. One way to do this is to take out a new loan and use the loaned funds to pay out the proposal. But just because you can, it doesn’t mean you always should…

In a previous blog post, we discussed the pros and cons of paying off your Consumer Proposal early. For those who decide to pay it off early, some consider using a loan to do so. In this case, here are some additional factors to consider before deciding to pre-pay the proposal using a loan.

https://csmithco.ca/pages/should-i-take-out-a-loan-to-pay-my-consumer-proposal

05/10/2025

After settling your debt through a Consumer Proposal, you have the option to pay it out early if able. But just because you can, it doesn’t mean you always should…

Your Licensed Insolvency Trustee (LIT) is a great resource to help you make informed choices, not just at the start of your proposal but throughout the process. They can help you decide whether it makes sense to pre-pay your proposal. In the meantime, here are some pros and cons of paying out your Consumer Proposal early.

https://csmithco.ca/pages/should-i-pay-off-my-consumer-proposal-early

11/25/2024

The final installment in our 4-part series on wise debt management has dropped!

This article focuses on seeking professional assistance when you need help managing your debt. We describe several types of professionals and explain when each of them is the best fit to assist you.

Check out:
https://csmithco.ca/pages/managing-debt-wisely-seeking-professional-advice

11/18/2024

Part 3 of our 4-part series on wise debt management is out!

In this installment, we review the importance of having a financial cushion in the form of an emergency fund, and provide some tips on getting started.

For details, check out: https://csmithco.ca/pages/managing-debt-wisely-building-an-emergency-fund

11/13/2024

For our continued celebration of Financial Literacy month, we've released the second of a four-part blog series covering four major components of wise debt management.

This week, we discuss the importance of minimizing high-interest debt, and strategies to do so.

Visit https://csmithco.ca/pages/managing-debt-wisely-minimizing-highinterest-debt to find out more.

11/06/2024

I recently participated in a video blog, hosted by Greg Belanger of Top Dog Tips.

In it, we discuss some critical, often misunderstood topics related to debt relief and financial recovery for business owners and individuals, such as:
**Bankruptcy vs. Consumer Proposals** – The difference and what might work best for you.
**Little-Known Debt Solutions** – Options that could save you thousands.
**Common Mistakes in Insolvency** – Pitfalls to avoid when facing financial challenges.
**Credit Recovery Tips** – How to rebuild credit faster than you thought possible.

As a licensed insolvency trustee and founder of Charla Smith & Company Ltd., my mission is to guide Canadians through the maze of debt relief, helping them reclaim financial freedom with compassion and expertise.

Catch the full episode on YYC Calgary Business and other podcast platforms:

11/02/2024

November is Financial Literacy Month!

To celebrate, we've created a four-part blog series covering four major components of wise debt management.

This week, we discuss the critical foundation: budgeting and creating a repayment plan.
https://csmithco.ca/pages/managing-debt-wisely-budgeting-and-creating-a-repayment-plan