Tax Refunds and Bankruptcy in Canada

Tax Refunds in Canadian Bankruptcies If you’ve recently filed for bankruptcy in Canada, you may be curious how this will be affecting your tax refunds. While the legal jargon can be difficult to sift through, the process is straightforward. What happens to my tax return when I file for bankruptcy? A common misunderstanding about tax … Read more

Bankruptcy When Married

It’s difficult to separate finances from relationships and when you get married, it’s likely that you and your spouse will share all of your finances. Money issues are one of the most common causes of relationship breakdowns as well, so it’s important that you understand how your partner’s finances affect you. One of the most … Read more

How Does Bankruptcy in Quebec Differ?

Bankruptcy in Quebec Differs From Other Provinces If you live in Quebec and you are exploring different debt relief options, you may be wondering, how does bankruptcy in Quebec differ? We all know that Quebec is different from the rest of the Canadian Federation and there are different laws in place, but most people don’t … Read more

What Happens If I Miss Payments in Bankruptcy or a Proposal? Exploring the Consequences

Why You Shouldn’t Miss Payments in Your Bankruptcy or Consumer Proposal Household debts can easily spiral out of control. As interest rates rise and we need to take on more debts to help us stay afloat while paying off our existing debts, Canadian households can find themselves insolvent. Fortunately, if they are no longer to … Read more

Do I Lose My RDSP If I File Bankruptcy in Canada? Here’s What You Need to Know

Is My RDSP an Exempt Asset? When our debts spiral out of control, filing for Personal Bankruptcy can give you the fresh start you need and deserve. However, there are many who are reluctant to take this step even though it could benefit them greatly. Many mistakenly believe that filing for Bankruptcy means that they … Read more

Your Bankruptcy Discharge

Canadian Bankruptcy Discharge Although bankruptcy can be one of the best solutions for unmanageable debt, many people are unaware of exactly what bankruptcy means and how it works. Simply filing for bankruptcy won’t make your debts go away, for example. Instead, you’ll need to wait for your bankruptcy discharge for your debts to be eliminated. … Read more

How Long Does Bankruptcy Affect Me?

Filing for bankruptcy in Canada is a serious financial decision that will impact your future. In truth, most individuals should view this as a last resort. Despite this, bankruptcy is still considered the most appropriate course of action for 125,000 Canadians each year. It might be the right option for you too – but only … Read more

Bankruptcy Costs & Fees

How much will it cost me to file for bankruptcy in Canada? Bankruptcy Costs & Fees are a critical concern for anyone considering entering into this process as a form of debt relief. After all, if you find yourself in a position where you may need to declare yourself bankrupt, you are unlikely to have … Read more

Expecting A Windfall While Bankrupt

What You Need To Know About Inheritances and Other Windfalls in Bankruptcy If you’re considering filing for bankruptcy, it’s highly likely you’re running low on liquid assets or you’ve already exhausted any savings you had. Before you decide to file for personal bankruptcy, however, it’s important to consider what would happen if you came into … Read more

What If My House Has Equity and I Declare Bankruptcy? Exploring the Consequences

House Equity in Bankruptcy Before you declare bankruptcy, it’s important to understand all of the consequences associated with this form of debt resolution. If you own any assets, for example, you’ll want to be sure that they aren’t going to be seized if you file for personal bankruptcy. Although many people who file for bankruptcy … Read more

Will My Assets Be Sold if I File Personal Bankruptcy?

Personal Bankruptcy & The Potential Sale of Assets As an increasing number of Canadians consider filing for bankruptcy, more and more people are searching for information regarding effective debt solutions. Although bankruptcy is a common method of debt resolution, there are many misconceptions surrounding the process. For example, many people assume that being declared bankrupt … Read more