Rabideau Law Cares – Food & Fund Drive

Recently Rabideau Law & Rabideau Debt Law hosted a Food & Fund Drive to help contribute to The Food Bank of Waterloo Region’s ‪#‎DIGIN‬ event on May 2nd, 2015.

We could not be more thrilled to announce that not only did we reach our goal of 25 boxes but we actually managed to surpass it! In total we raised 630 lbs of food and $180 in donations. That’s enough to provide 1,032 meals for our neighbours in need!

We could not have done it without the support of the other offices in our building. A BIG thanks goes out to Primal, Quadriga Business Centre Ltd., Square, Nutrafarms, MappedIn, Chalk.com, RENOMii & SigmaXL! Thank you, Thank you, Thank you!

WHY DIG IN?

  • 1 in 20 Waterloo Region residents needed food assistance last year
  • 46% of households needing assistance are families with children
  • The Food Bank of Waterloo Region will need enough food and funds to provide 360,000 meals this summer alone

MORE ABOUT THE FOOD BANK

The Food Bank distributes 20,000 lbs of non-perishable food to food programs in Waterloo Region each week.

In Waterloo Region during 2010:

26,500 residents of Waterloo Region sought emergency food assistance

38% were children

10% were working poor

24% were disabled

Over 48,000 people in Waterloo Region are living below the poverty line (2006 census).

Currently 1 in 20 people in Waterloo Region is hungry… 37% of those are children.

To Find Out More About How You Can Help visit www.thefoodbank.ca

Refinancing a Home

When the term of your mortgage is up for renewal, refinancing your home can reduce your monthly payment and allow you to take advantage of better interest rates or a more favorable amortization period. At Rabideau Law we make this process as simple and straightforward as possible.

What are the responsibilities of a residential real estate lawyer?

Our team works hard to ensure that the refinancing of your mortgage is handled professionally and completed in a timely and efficient manner. Our services include:

  • Advising the client regarding their mortgage and title.
  • Coordinating with the bank or mortgage broker.
  • Determining the amount necessary to cover the balance of your current mortgage.
  • Searching for and removing liens or writs registered against the property or the owner.
  • Registering the new mortgage and removing the existing mortgage against the title.
  • Depositing any remaining funds into the account of the client.

What are the legal costs of refinancing a home?

Rabideau Law is pleased to offer home owners fixed fee legal representation when refinancing, giving you the peace of mind of knowing up-front the total cost of our services. Our rates are highly competitive, so be sure to visit our residential real estate page for more information on pricing.

*for certain unique circumstances, additional fees may apply. Please refer to our associated costs schedule for more information.

Refinancing for Debt Consolidation

Refinancing your home can be an attractive options for consolidating multiple debts into a single monthly payment. In addition to home refinancing services, Rabideau Law also offers a variety of solutions tailored towards overcoming debt, tax and insolvency problems.

I’m ready to get started – what’s my next step?

To get started, contact our office today to discuss your needs with one of our residential real estate law specialists.

For residential real estate law services in Kitchener, Waterloo, Cambridge, Guelph and surrounding areas, please call 519-957-1001 or email info@rabideaulaw.ca.

Selling a Home

The excitement of moving can be often overshadowed by the stress of selling your current home. Choosing the right residential real estate lawyer can make all the difference. At Rabideau Law, we work hard to protect your interests and ensure a positive selling experience.

With an office in downtown Kitchener, flexible meeting times, and remote signings for Real Estate deals, we are dedicated to providing professional services when and where it is most convenient for you.

What are the responsibilities of a residential real estate lawyer?

Our team will work closely with you from start to finish ensuring a timely and efficient closing. Our services include:

  • Advising the seller on matters pertaining to their mortgage, the property, and the legal process.
  • Coordinating the exchange of documents between the real estate agents and bank.
  • Corresponding with the cooperating lawyer representing the buyer.
  • Removing any liens, mortgages, easements and other clouds on title
  • Releasing the transfer of title to purchaser’s lawyer.
  • Ensuring payment of the balance of the seller’s mortgage.
  • Depositing funds into your account upon closing.
  • Protecting your interests in the event of misrepresentation.

What are the legal costs to selling a home?

Rabideau Law is pleased to offer home sellers fixed fee legal representation, giving you the peace of mind of knowing up-front the total cost of our services. Our rates are highly competitive, so be sure to visit our residential real estate page or contact our office for more information.

*Additional costs may be incurred under some circumstances. Please refer to our associated costs schedule for more information.

I’m ready to get started – what’s my next step?

To get started, contact our office today to discuss your needs with one of our residential real estate law specialists.

For residential real estate law services in Kitchener, Waterloo, Cambridge, Guelph and surrounding areas, please call 519-957-1001 or email info@rabideaulaw.ca.

Buying a Home

Buying a home – whether you’re a first time home buyer or an experienced one – should be an exciting and memorable occasion. Now that you’ve found the perfect house, condo, or vacation property, it’s time to close the deal. With Rabideau Law on your side, you can be assured that the closing process will be stress-free and handled with the highest degree of professional care.

With an office in downtown Kitchener, flexible meeting times, and remote signings for Real Estate deals, we are dedicated to providing professional services when and where it is most convenient for you.

What are the responsibilities of a residential real estate lawyer?

From start to finish, Rabideau Law works closely with you to ensure the process of buying a home is handled professionally, with your best interests in mind. Our services include:

  • Advising the purchaser on matters pertaining to their mortgage, the property, and the legal process.
  • Coordinating the exchange of documents between the real estate agents, mortgage broker and bank.
  • Corresponding with the cooperating lawyer representing the seller.
  • Searching for liens, mortgages, easements and other clouds on title.
  • Verifying the absence of any writs against the home purchaser or seller.
  • Ensuring the removal of any liens or writs registered against the property or seller.
  • Obtaining title insurance to protect you and the mortgage lender.
  • Registering the transfer of title and the mortgage with the provincial government.
  • Informing the municipality of the transfer of title.
  • Remitting the land transfer tax to the provincial government.
  • Providing you with your keys on the day of closing.
  • Protecting your interests in the event of misrepresentation on the part of the seller.

What are the legal costs to buying a home?

Rabideau Law is pleased to offer home buyers, fixed fee legal representation, giving you the peace of mind of knowing up-front the total cost of our services. Our rates are highly competitive, so be sure to visit our residential real estate page or contact our office for more information

*for certain unique circumstances, additional fees may apply. Please refer to our associated costs schedule for more information.

Are there any additional costs to buying a home that I should be aware of?

When financing the purchase of a home with a mortgage, the lender will require Title Insurance, which we purchase on your behalf. The cost of title insurance will depend on the amount of the mortgage. For mortgages ranging from $200,000 to $500,000, the cost of title insurance is included in the fee. For additional title insurance, please contact our office.

Each purchase in Ontario incurs a provincial land transfer tax. The amount of the tax is dependent on the cost of the home, generally ranging between 1% and 2% of the purchase price. First time home buyers are also eligible to receive a rebate of up to $4000 against the cost of this tax.

I’m ready to get started – what’s my next step?

To get started, contact our office today to discuss your needs with one of our residential real estate law specialists.

For residential real estate law services in Kitchener, Waterloo, Cambridge, Guelph and surrounding areas, please call 519-957-1001 or email info@rabideaulaw.ca.

In memory of René Boerkamp

rene

In memory of René Boerkamp, friend and client of Rabideau Law.

René you will be missed with your cute little accent and warm character, which always lit up the office when you visited.

Our thoughts and prayers are with you Eva, Roy, Tim and Nikki.

Restructure your corporation under the CCAA

The Canadian Creditor’s Arrangement Act, (“CCAA”) is federal legislation that provides insolvent companies the opportunity to restructure their affairs, in doing so, it provides the company the ability to avoid bankruptcy while opening dialogue with its’ creditors.

To start the dialogue the troubled company seeks an order from the court under the CCAA. This Order provides an immediate 30 day Stay of Proceedings* against the company affording the company the time to prepare its Plan of Arrangement.

A Plan of Arrangement is an offer from the company to its creditors in which the creditors are offered a reduced amount, on the outstanding debt, in exchange for the company paying a lump sum of cash, or entering into a payment plan. The CCAA offers significant flexibility and not all plans involve a payment. Plans can include an offer of shares, possessions or cash or a mixture of the three.

The troubled company has the ability to exclude a specific creditor or group of creditors from its Plan, and can even include the shareholders as creditors. There is no limit to what the Plan could entail.

In order to be eligible under the CCAA, the company must be:

  1. a Canadian company; or,
  2. a foreign company with assets in Canada or conducting business in Canada; or,
  3. an income trust;

The company must be insolvent or have committed an act of bankruptcy and the company must have in excess of $5 million in debt.

After receiving the Plan of Arrangement the creditors will meet to vote on acceptance of the Plan. In order to be accepted, and therefore binding on all the creditors in that class, 2/3rds of the creditors, by dollar value, must approve the Plan. If the creditors don’t immediately approve the Plan it can be altered by negotiation between the creditors and the company until all the necessary changes are made to have it approved.

If the creditors and the insolvent company cannot come to an agreement the Plan is rejected and the troubled company loses the protection of the Stay of Proceedings, which ultimately would result in the insolvent company filing for bankruptcy under the Bankruptcy and Insolvency Act (“BIA”). From a creditor perspective, an insolvent company filing for bankruptcy would be the least beneficial option available.

*Stay of Proceedings is the halting of all legal and collection actions by the creditors against the insolvent company.

Thank you for your donations!

Thank you everyone for your generosity, donations and your help in making the Winter Clothing Drive a huge success.

The clothes, footwear and accessories were graciously accepted by St. Mary’s Place, the House of Friendship, and several individuals living on the streets and often seen around downtown Kitchener. One individual, Anita, was overcome with emotion when we gave her a pair of winter boots, some clothes and a new wagon in which to carry all her stuff. The Rabideau Law Angels thank you. A big thanks to my wife Christine for this great idea.

Restructure your Corporation & Return to Profitability!

Whether you are a high profile company, such as Air Canada, or a tradesman operating through a numbered company, ex: Bob’s Tiling, your outstanding tax, debt and supplier obligations have the ability to derail your hard earned business in an instant and leave you personally liable; affecting your home, your family and your livelihood.

If this sounds similar to you, rest assured knowing that there are options available which can help restructure your company’s outstanding debt obligations ensuring the survival of your business while protecting the life style you have come accustomed to living.

In Canada, insolvent* companies have three legislative options available to them in order to restructure their outstanding debt obligations.

The first is The Companies’ Creditors Arrangement Act (CCAA). This option is the usual legislation insolvent companies with outstanding debts utilize. However, the CCAA is only for companies with more than $5 Million in outstanding debt.

Doesn’t sound like you and thankfully so, then the Bankruptcy and Insolvency Act (BIA) is for insolvent companies with less than $5 million in outstanding debts. A corporate restructuring under the BIA is a less costly measure than an arrangement under the CCAA, and is normally used by small to mid-sized businesses.

The third option is to file a plan of arrangement pursuant to the Canada Business Corporations Act (CBCA). Arrangements under the CBCA are very limited as only certain companies meet the very specific requirements.

Beginning in January, my invitation to you is to check back with Rabideau Law as we will examine the above mentioned options and deal with specific case studies which may be applicable to your business.

*Insolvency is defined as the inability of a company to pay its bills, debts and other financial obligations.

Winter Clothing Drive

Join the Angels

As part of our holiday initiatives, Rabideau Law is pleased to announce that we will be collecting new and gently used clothing to donate to local families and charitable organizations including St. Mary’s Place and The House of Friendship.

Donations can be delivered to Rabideau Law at 55 King Street West, Suite 700, Kitchener. Accepting donations  until December 14th

Do I Have To Pay My Debts?

Time limitation on collecting a debt in Ontario

In Ontario, an unsecured creditor has a legal right to collect on an unpaid debt no later than two years from the date of the last activity on the account. Unsecured creditor means a creditor that has not registered a mortgage or a lien on a piece of property such as a house or car, a credit card is normally an unsecured creditor. Last activity means the date of the last payment, even a partial payment, or the date the debtor last acknowledged owing the debt to the creditor.

Therefore, the debt does not have to be repaid if you have not made a payment on the credit card for more than two years and they did not start a legal action against you within that two year time period.

This, however, will not stop all actions by debt collectors and collection agencies. Collectors will continue to contact you and they may threaten legal action as they are aware that most Ontarians are oblivious to this time limitation. In such a case, inform the Collector never to contact you again and under no circumstances should you acknowledge that you owe the debt to the creditor or the collector as this will restart the two year time period.

Further, Collectors still have the ability to report the unpaid debt to credit reporting agencies, such as Equifax and Trans Union. This unpaid debt will remain on the debtor’s credit report for six years from the date of the last activity, thereafter it will be automatically purged by Equifax and Trans Union.

If you see an unpaid debt or discrepancy on your credit report, you can challenge the discrepancy by completing the attached Consumer Credit Report Update Form and providing all the relevant documents:

  1. photocopies of all necessary documents
  2. receipts
  3. legal documents
  4. proof of current address
  5. photocopies of two pieces of identification

What are the fees?

For more information on pricing, please contact our office.