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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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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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Credit Repair After Bankruptcy

Posted by in Bankruptcy
5
Feb 2018
If your business or personal finances are in serious trouble, filing for bankruptcy can give you the relief you need and a clean slate to start over. However, many are concerned that bankruptcy will ruin their credit. Generally, anyone who’s considering bankruptcy already has bad credit due to delayed payments or their ...


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What Retirees Should Know About Bankruptcy

Posted by in Bankruptcy
22
Jan 2018
Retirement is supposed to be a joyous time when we can relax and enjoy the life we’ve built for ourselves, our children and grandchildren. Unfortunately, many of us will find that impossible, since we will be saddled with debt. If you have reached retirement age, are a recent retiree or have been retired for years and are ...


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Will Bankruptcy Affect My Student Loans?

Posted by in Bankruptcy
15
Jan 2018
If you find yourself in a financial nightmare where you cannot get out from under a mountain of debt because of your student loans, you may be wondering if bankruptcy is the right option for you. There are rules for declaring bankruptcy when you have student loans. In Canada, we have what is known as the Bankruptcy & Insolvency ...


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Loans After Bankruptcy: What You Need To Know

Posted by in Bankruptcy
8
Jan 2018
In Canada, it is possible to get a loan following a bankruptcy. Whether you are looking to get a mortgage, line of credit or car loan after bankruptcy, you can. Here’s what you need to know: Bankruptcy Counselling Before Or After You File Bankruptcy counselling is available to anyone who has recently filed or is ...


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Signs That You Should File For Bankruptcy

Posted by in Bankruptcy
20
Nov 2017
Unfortunately, life may not always go as planned and depending on certain circumstances, we can find ourselves in serious debt. Bankruptcy may not be an option for everyone, however here are some important signs to notice if you are headed for bankruptcy. Thankfully, keeping track of these things will allow you to be proactive ...


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Consumer Proposal Or Bankruptcy: Which Is Right For Me?

Posted by in Bankruptcy
6
Nov 2017
If you find yourself facing insurmountable debt, there are options available to you. Through either a consumer proposal or a declaration of bankruptcy, you creditors. Each option shares similarities and differences, so it’s important to investigate which solution is right for you. Bankruptcy And Consumer Proposal: ...


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5 Myths About Bankruptcy

Posted by in Bankruptcy
7
Aug 2017
There’s a difference between refusing to pay your debt and being unable to pay your debt. In Canada, the Bankruptcy and Insolvency Act (BIA) assumes that the debtor is “innocent,” and filing for bankruptcy is a financial rehabilitative process rather than a punitive one. Unfortunately, the public still largely ...


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