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Bankruptcy and My Income

Posted by in Bankruptcy
16
Dec 2019
When it comes to bankruptcy in Canada, many are unfamiliar with how surplus income affects your bankruptcy process. In general, surplus income is your monthly income during the time you are bankrupt—basically, the higher your income, the more surplus income you will have to pay. Many sole proprietor owners and ...


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What Are Surplus Income Payments?

Posted by in Bankruptcy
2
Dec 2019
When self-employed and sole proprietor owners get overwhelmed with debt, many file for bankruptcy to gain a fresh start. However, after you have filed for bankruptcy, you might have to make monthly payments known as surplus income payments. It’s important to know when you declare bankruptcy what your income is and if it ...


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Five Effective Ways to Avoid Bankruptcy

Posted by in Bankruptcy
15
Nov 2019
For most small business owners and self-employed individuals, filing bankruptcy in Canada should be carefully considered. First, we’re going to outline the advantages and disadvantages of filing for bankruptcy —- you need to weigh the pros and cons of bankruptcy. Then, we will discuss five effective ways to avoid ...


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10 Questions Answered on How Bankruptcy Affects Your Business

Posted by in Bankruptcy
1
Nov 2019
With such a large number of start-ups and businesses in Canada, self-employed individuals are prone to run into debt problems. When these debt problems get overwhelming, small business owners may need to file for bankruptcy to gain a fresh start. When an individual files for bankruptcy, this is considered personal ...


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How Bankruptcy Affects Student Loans

Posted by in Bankruptcy
15
Oct 2019
With what many would consider being unfair changes to the student loan process in Ontario, more students will be faced with the challenges of financing their education. Whether you had benefited from student loans prior to the amendments made to the student loan program or are looking at your current financial situation as a ...


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5 Questions to Ask When Choosing a Bankruptcy Trustee

Posted by in Bankruptcy
23
Sep 2019
If you are like most people, you never thought that there may come a time when you needed to talk to someone about your financial problems. Something in your life has happened that had made what used to be manageable debts into something too much to handle for one person. Only a Licensed Insolvency Trustee can offer the ...


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9 Myths About Bankruptcy Services

Posted by in Bankruptcy
9
Sep 2019
If you are having financial trouble, declaring bankruptcy is a solution you may want to consider before walking this path. However, many common myths circulate about bankruptcy that are simply not true. Here are nine of them. 1.Everyone will know you declared bankruptcy It is true that bankruptcies are public information, ...


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Protect Yourself From Bankruptcy

Posted by in Bankruptcy
19
Jul 2019
Without bankruptcy protection, debt is the kind of thing that can sneak up on an individual or family. It only takes a few weeks of not paying close attention to your finances and they can start to spiral out of control. You can become distracted by: Taking care of an elderly parent Overspending on vacation A change ...


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Should You File for Business Bankruptcy?

Posted by in Bankruptcy
15
May 2019
Contemplating commercial business bankruptcy is difficult and stressful. The majority of people have invested significant sums into and thousands of hours into their business and commercial business bankruptcy is on par with losing a loved one or facing a major illness when it comes to stress. Options Before Commercial ...


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Bankruptcy After Retirement

Posted by in Bankruptcy
1
May 2019
More and more seniors in Canada are filing for bankruptcy. A senior retirement bankruptcy proposal is an option many people over 60 are turning to in order to reorganize their finances and work out a realistic budget for the longer term. After all, life expectancy in the Western world is growing, and Canada is no exception. ...


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