Category

Here is a summary of benefits you will receive when you file a consumer proposal.  ✔   You will AVOID BANKRUPTCY.  ✔   You will STOP unsecured creditors from taking legal action against...

In your year of bankruptcy two income tax returns must be filed with Canada Revenue Agency.  a pre-bankruptcy return, is for the period January 1st to your date of bankruptcy. a post-bankruptcy return, is for the period from...

You may not need credit counselling if you are able to pay your bills. On the other hand, if you can’t pay the minimum on your credit card balances, you are late paying one or more of your bills, or you have been unable to make reasonable repayment plans with your...

Here is a summary of benefits you will receive when you file bankruptcy.  ✔   You will STOP unsecured creditors from taking legal action against you.  ✔   You will STOP unsecured creditors from...

A consumer proposal is a written offer made by you, the debtor, to your existing creditors requesting a legally binding modification of your creditors total debt usually for a lesser amount.  A consumer proposal is a NEW LEGALLY BINDING AGREEMENT with...

Most people don’t like to talk to anyone about their finances. Some people don’t even discuss their finances with their spouse / partner. In times of difficulty, confidentiality can lead to heightened financial stress. Not good. You need to talk to someone about your...

For the most part, the answer to this question is “Yes.”  Filing a proposal or bankruptcy under the Bankruptcy and Insolvency Act is the only method of eliminating Canada Revenue Agency debt.  Outstanding government debts like personal income...

The definition of a candidate for bankruptcy is: an insolvent person who, at the time of filing bankruptcy, lives or carries on business in Canada.  If you do not live or carry on business in Canada, then you cannot file bankruptcy in Canada.  You may...

When your Licensed Insolvency Trustee is appointed, you become bankrupt, and you are referred to as an undischarged bankrupt. As such, you have certain Duties of a Bankrupt and responsibilities under the Bankruptcy and Insolvency Act. In summary, you must cooperate...

You may not need credit counselling if you are able to pay your bills. On the other hand, if you can’t pay the minimum on your credit card balances, you are late paying one or more of your bills, or you have been unable to make reasonable repayment plans with your...