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How to Choose a Bankruptcy Trustee

Posted by in Bankruptcy
7
Jun 2021
If you’re considering filing for bankruptcy or for a consumer proposal, you will need the help of a bankruptcy trustee to guide you through the process. It is mandated by the government that a trustee help those looking for debt relief. As such, all bankruptcy trustees in Canada are licensed by the federal government. What ...


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Is Bankruptcy the Answer to Student Loan Debt?

Posted by in Bankruptcy
24
May 2021
With tuition fees dramatically increasing over the past couple of years, student debt has become a pressing issue for many Canadians. Students are having to take out large loans for their education, and it can take years or even decades to pay off such a huge sum: about 67% of Canadians graduated with an average debt of over ...


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Debunking 8 Common Bankruptcy Myths

Posted by in Bankruptcy
1
Apr 2021
The process of bankruptcy is a troubling time for any business or person. There’s so much information to understand and legal ramifications that come along with every step. This leads to a lot of misinformation being perpetuated, with different ideas and stigmas being associated with filing for bankruptcy. It is important ...


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Bankruptcy Counselling vs. Credit Counselling: What Is the Right Option for Me?

Posted by in Bankruptcy
8
Mar 2021
Bankruptcy is a difficult time for you or your business and can greatly affect your financial goals. Expenses and debt add up and, before you know it, you’re ready to file for bankruptcy. What most people are not aware of is that every situation is unique, and filing for insolvency immediately may not be the best ...


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4 Reasons You Need a Licensed Insolvency Trustee if You Are in Debt

Posted by in Bankruptcy
5
Feb 2021
Bankruptcy is trading your non-exempt assets or ‘what you own’ in return for your debts being forgiven. It is a common financial trouble that many find themselves in and can be challenging to go through. If loans or debts weigh you down, it can be confusing to figure out how to handle your situation in the most ...


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Eight Things to Know Before You File for Bankruptcy

Posted by in Bankruptcy
15
Dec 2020
Many view filing for bankruptcy as a last resort — and it is. Bankruptcy is a pivotal debt relief solution that becomes necessary when you cannot stay on top of your bills due to unemployment, bereavement, and other extreme life events. Bankruptcy offers debt relief to prevent legal action from being enforced by creditors ...


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Bankruptcy or Consumer Proposal: Which Is Right for Me?

Posted by in Bankruptcy
2
Dec 2020
As Canadians grapple with financial instability, many are forced to re-examine their finances to ensure their survival and secure their future amidst this turmoil. Unemployment benefits and social assistance, lines of credit, and emergency savings are designed to assist with precarious financial situations. Despite these, ...


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What Happens to Surplus Income During Bankruptcy?

Posted by in Bankruptcy
20
Nov 2020
The idea of bankruptcy can be scary if you have been experiencing ongoing financial challenges. However, if all other solutions have failed, it could prove to be the best decision you ever make. The decision to file for bankruptcy is never easy. When you work with a Licensed Insolvency Trustee, we will make every effort to ...


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Four Reasons Why Bankruptcy Isn’t the End of the World

Posted by in Bankruptcy
6
Nov 2020
Living in Ontario isn’t cheap. And the past year has been financially difficult for many people. If you live in Ontario and think you may have to declare bankruptcy, we’re here to tell you it’s not the end of the world. While no one wants to declare bankruptcy, sometimes it is the best thing you can do to get a fresh ...


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Filing for Bankruptcy in Your 20s: What You Need to Know

Posted by in Bankruptcy
23
Oct 2020
There was a time when filing for bankruptcy in Toronto seemed like the end of any future financial aspirations. Now, bankruptcy is often an answer to a question of insolvency and opens the doors to a new life filled with new possibilities. As an insolvency and bankruptcy expert in Toronto, Kevin Thatcher & Associates, Ltd., ...


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