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Can you still buy or rent a home after consumer proposal in Canada?

Posted by in Bankruptcy
25
Oct 2018
A bankruptcy (BK) or consumer proposal (CP) agreement could impact a borrower’s ability to rent or own a home. However, often these options are helping people clean up overwhelming debt which would also provide barriers to credit and rental options. There are several common sense options for people who want to pursue home ...


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Reasons to Choose a Debt Consolidation Loan

Posted by in Bank Loan
18
Oct 2018
A debt consolidation loan is a loan can be used to pay off all other outstanding debts. Often a bank, credit union or finance company will combine the amounts owed to your various creditors into one comprehensive loan that you pay down altogether rather than separately. The structure of a debt consolidation loan and its payment ...


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What Rights Do Secured Creditors Have?

Posted by in Bankruptcy
27
Sep 2018
When one is forced to contemplate filing for bankruptcy, it’s an important process that is not entered into lightly. Contrary to popular belief, not everything you own is seized when you file for bankruptcy. Not only is there a long list of assets that are exempt from seizure, but there is also a hierarchy among your creditors ...


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What Can You Keep in a Bankruptcy?

Posted by in Bankruptcy
12
Sep 2018
Most, if not all of us aspire to be the kinds of people that pay their bills on time and have no significant money issues. Unfortunately, sometimes financial pressures, bad decisions, and just plain bad luck can bring things to the point where bankruptcy is the best – even only – solution. If this should ever happen ...


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What Happens to Debt Resulting from Fraud in Bankruptcy?

Posted by in Bankruptcy
27
Aug 2018
The Details Concerning Filing a Fraudulent Bankruptcy in Canada There are numerous reasons a consumer ends up in bankruptcy. Despite this, the results remain the same for everyone that files. Once the requirements for the process have been completed successfully, any unsecured debts are eliminated and the individual is ...


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5 Bankruptcy Facts You Need to Know

Posted by in Bankruptcy
20
Aug 2018
No one aims to become bankrupt, but 125,878 Canadians filed for personal bankruptcy in 2016. It’s projected that one in six Canadians will become bankrupt at some point in their lives. When you’re at the point of considering bankruptcy, it’s helpful to know you’re not alone. In fact, you’re in good ...


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Is Debt Management or Debt Settlement Better for Me?

Posted by in Debt
16
Jul 2018
Being in debt is an unpleasant experience for anyone. When your debt exceeds your ability to pay it off, it is certainly something to be concerned about. People are forever looking for easy ways to tackle such problems. Most people keep wondering about what solution is right for them and what isn’t. To know what is suitable ...


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7 Strategies to Pay off Your Credit Card Debt Fast

Posted by in Credit Cards
9
Jul 2018
There is no denying that we often get lured into getting credit cards even if our common sense warns us against it. After all, they are accepted everywhere, do not require us to carry cash most of the time and help in getting loans sanctioned easily. With all their perks, we often end up overusing our credit cards until one day ...


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The Nature of Equity Receivership and Why it Happens

Posted by in Uncategorized
18
Jun 2018
An equity receivership, or equitable receivership, is a form of receivership which is neither a plain care-taking pending foreclosure nor an action initiated by the government. A receivership remedy is an equitable form of remedy, one which emerged in the English chancery courts, where receivers were appointed to oversee and ...


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What Happens to My Leased Car If I Go Bankrupt?

Posted by in Bankruptcy
11
Jun 2018
Consumer proposal and bankruptcy laws both deal with the same thing: a person's unsecured debts. These can be anything from lines of credit, credit cards, debts on income taxes, and personal loans. Thus if you are filing a proposal or for bankruptcy, you have the option of keeping the secured item and continuing payments or ...


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