Canadian Association of Insolvency & Restructuring Professionals

Laid off—and still juggling debt?

When your income disappears overnight, the financial pressure doesn’t pause. Bills keep coming, and uncertainty can feel overwhelming. But there are steps you can take to regain control.

In our latest blog by Kaitlin Verge, CIRP, LIT, we break down a practical, step-by-step approach to help you:
• Stabilize your finances
• Prioritize what truly matters
• Navigate conversations with creditors
• Understand your debt relief options in Canada

The key takeaway: acting early can make a meaningful difference—and you don’t have to navigate it alone.

🔗 Read the full blog: https://cairp.ca/industry-views-news/blogs/laid-off-managing-debt-canada-step-by-step-guide

Reach out to a Licensed Insolvency Trustee near you to review solutions: https://cairp.ca/find-a-cirp-lit/

Mortgage brokers often work with clients navigating complex financial situations — including debt challenges.

Having a foundational understanding of insolvency can help you guide clients more effectively, build stronger relationships, and open the door to better outcomes.

Learn how insolvency education can support your work:
👉 Read the blog: https://cairp.ca/industry-views-news/blogs/insolvency-education-mortgage-brokers

Interested in building your knowledge? CAIRP’s Introduction to Insolvency course is a great place to start. https://cairp.ca/become-a-cirp/insolvency-course-introduction/

Insolvency isn’t just about bankruptcy—it comes up more often than you might think.

Understanding the basics can help professionals spot early warning signs, assess risk, and better support clients when it matters most.

In this quick read, we cover:
✅ What insolvency really means
✅ Key tests every accountant should know
✅ How Canada’s legal framework shapes outcomes

📖 Read the blog: https://cairp.ca/industry-views-news/blogs/insolvency-basic-principles-for-accountants

Curious to go deeper?

🎓 Learn more about CAIRP’s Introduction to Insolvency course:
https://cairp.ca/become-a-cirp/insolvency-course-introduction/

🚗 Does your car payment feel like it's never going to end?

You're not alone. With vehicle prices rising and loan terms now stretching to 7 or even 8 years, many Canadians are trapped in a cycle where they trade in their car before it's paid off — and roll that leftover debt into the next loan. Effectively, they end up paying for a car and a half.

If debt is feeling unmanageable, you don't have to figure it out alone. A Licensed Insolvency Trustee (LIT) can walk you through your options. LITs generally offer free consultations — no commitment, no upfront fees — to give you a realistic picture of the debt relief options available for your situation.

🎥 Want to learn more? Watch André Bolduc, CAIRP's Immediate Past Chair, speak about this issue at the House of Commons: https://www.youtube.com/watch?v=BCkxWuMBQss

CAIRP/ACPIR 1 like. "Canada's Household Debt Crisis: CAIRP's Past Chair Speaks at Parliament"

Tax debt can sneak up on anyone — a job change, an RRSP withdrawal, or self-employment income can all lead to an unexpected CRA bill. Left unaddressed, the consequences are serious: wage garnishment, withheld refunds, and liens on your property.

The good news? You have options.

Our latest blog, written by Braden Burritt, CIRP, LIT, breaks down why tax debt happens, what the CRA can and will do if you don't act, and how — from informal payment arrangements to formal debt relief through a Licensed Insolvency Trustee — you can stop collection action and get a fresh start.

If you or someone you know is dealing with CRA debt, this is a must-read. 👇