Charla Smith & Company Ltd.

05/09/2026

In 2024, 137,295 Canadians filed for insolvency.

Anyone who works in the field of insolvency knows that the profile of a person who makes an insolvency filing doesn’t fit one stereotype.

However, the latest release from the Office of the Superintendent of Bankruptcy on the Canadian Consumer Debtor Profile from 2024 provides some interesting summarized information about debtors.

https://csmithco.ca/pages/debt-reality-in-canada-consumer-debtor-profile

04/11/2026

We regularly meet with people who have a long history of managing their finances responsibly, but everything changed after an unexpected health challenge entered the picture. When you combine reduced income, higher expenses, and delays in support, it is not hard to understand why debt becomes a part of the picture.

Health issues and disabilities can change a person’s life in ways that go far beyond the medical diagnosis. When those changes lead to debt, making a plan to deal with the debt helps you focus your energy on fixing the situation, and the reduction of stress may even help you in managing your health issues as well.

https://csmithco.ca/pages/medical-issues-and-debt-how-medical-issues-and-disability-can-lead-to-debt-and-what-support-exists

03/14/2026

Financial scams have dramatically evolved in recent years, and we are seeing an increase in people dealing with overwhelming debt due to being a victim of a scam. This includes people who have never been caught by a scam before.

Prevention is key, so we've prepared a blog about some of the common ones we are seeing.

https://csmithco.ca/pages/the-rise-in-sophisticated-scams-and-how-they-re-causing-debt-problems

12/05/2025

Financial Literacy Month is over, and we thank you for checking out our series of new blogs during November.

It's time to announce the latest organization that Charla Smith & Company is supporting:

THE CALGARY FOOD BANK

The Calgary Food Bank is the first line of emergency food support for people facing crisis. They receive almost no government funding and instead rely mainly on donations.

If you are able, please consider supporting the food bank. If you are struggling to afford food, there are many organizations that can organize a referral to the food bank for you. Reach out to us if you need more information on this.

Together, we fight hunger and its root causes because no one should go hungry.

11/29/2025

Financial Literacy Month is coming to a close.

Our contest to find another deserving local organization to support is still open, so please submit your nominations!

We already donate to these three wonderful organizations that help people in financial distress:

Momentum
Women's Centre of Calgary
Carya

Please suggest an Alberta organization that you know about that helps support people with financial struggles. If we pick your suggestion, we will send you a thank you gift!

Our final blog for Financial Literacy Month is now live.

If you’ve had any troubles with debt, such as missed payments, maxed out cards, or default notices, you may wonder how it will impact your credit… and for how long. You may also wonder what you can do about it.

Read our blog to find out:

https://csmithco.ca/pages/how-long-negative-information-stays-on-your-credit-report-in-canada

11/22/2025

Recognizing the warning signs that you have too much debt early can help you get control before things spiral. But debt can creep up, and you may not realize how deep you're in when you're keeping up with minimum payments.

This article includes some red flags that suggest your debt may be more than you can reasonably handle, as well as some actions you can take.

https://csmithco.ca/pages/the-warning-signs-you-may-have-too-much-debt

11/15/2025

New blog and reminder about our Financial Literacy Month contest!!!

Here is our latest blog about money matters - Why Payday Loans Are Risky

The cost of a payday loan for two weeks doesn't seem too bad. But in reality, many people can't pay it back in two weeks and end up in a Payday Loan Cycle. By the end of one year, this can mean they pay more than double or triple the original loan amount in fees.

Read our blog to find out more:
https://csmithco.ca/pages/why-payday-loans-are-risky

Also, don't forget about our contest to identify a new deserving organization we can support to help people in financial distress. We already support Momentum, the Women's Centre of Calgary, and Carya, but we ask that you suggest another Alberta organization that helps support people with financial struggles. If we pick your suggestion, we will send you a thank you gift!

11/08/2025

When you open your credit card bill, the first thing you probably look for is the amount you have to pay. If you pay the minimum payment amount on time, you will stay in good standing.

But keeping up with the minimum payments does not mean that you are in control of your debt.

Read our newest blog to find out why paying the minimum is a trap.
https://csmithco.ca/pages/why-paying-the-minimum-on-credit-cards-is-a-trap

11/02/2025

Happy Financial Literacy Month! See contest information below:

This month we're celebrating with five new blogs about money matters, with a link to the first one here.

We're also donating once again to three wonderful local organizations that help people in financial distress:

Momentum
Women's Centre of Calgary
Carya

And we're launching a contest to identify a fourth deserving organization. This month, we ask that you suggest an Alberta organization that you know about that helps support people with financial struggles. If we pick your suggestion, we will send you a thank you gift!

This week's blog:

Budgeting is the root of all financial planning, but many people avoid it because they envision spreadsheets, strict rules, and cutting out joy.

Read our blog to see why the best way to start a budget isn't sitting down with a spreadsheet or cutting back, it's tracking your spending.

https://csmithco.ca/pages/the-power-of-tracking-your-spending

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