Many people take pride in providing a good life for their family and children and are wondering if filing bankruptcy or making a consumer proposal will affect their children. People spend their whole lives working to provide a secure home, food to eat, and warm clothing to wear. However, many Canadians are also dealing with… Continue reading Will Filing Bankruptcy Or Consumer Proposal Affect My Children?
What Do I Need to Know About The Creditors’ Meeting in a Bankruptcy? If your assets in a bankruptcy are less than $15,000, your bankruptcy is considered a “summary administration,” and a bankruptcy creditors’ meeting is not automatically required. Almost all bankruptcies in Canada are a summary administration and therefore most bankrupts won’t be required… Continue reading Bankruptcy Creditors Meeting: What Questions Will They Ask?
The short answer is no, it is not difficult to file bankruptcy in Canada. While it is not difficult to claim bankruptcy, you should be aware of some things before you consider going bankrupt as a way to manage your debt. Bankruptcy is a legal way for honest but unfortunate debtors to relieve themselves from… Continue reading Is It Difficult To File For Bankruptcy?
What You Need to Know About Bankruptcy’s Surplus Income Requirement Surplus income is a requirment in bankruptcy that certain individuals are required to make. The government has given this name of surplus income to the monthly bankruptcy payment calculations that trustees must make when someone files personal bankruptcy. Using a specific set of rules, your… Continue reading 3 Things to Know about Surplus Income in Bankruptcy