Filing Bankruptcy in Canada

The Automatic Stay of Proceedings is One of The Most Powerful Tools in Bankruptcy Despite the strict rules and regulations which govern the way that loans are given out, it’s difficult for creditors to ensure that they offer the right level of credit to their customers. Circumstances change, plans don’t always work out, and many … Read more

Costs Of Going Bankrupt in Ontario Receiving threatening calls and letters, facing lawsuits, and being unable to pay your mounting debts can all be extremely stressful. Financial companies don’t tend to pull any punches when they are going after people who owe them money, and this leaves a lot of people losing sleep when they … Read more

Money troubles like debt can be a significant burden in your life. The digital age has made it much easier for banks and other financial institutions to follow up on the money you owe, and many people feel extremely pressure when they are receiving phone calls, letters, and emails all requesting that they pay money … Read more

Filing Bankruptcy in Canada on American Debt A lot of Canadians own their own business. For this reason, it’s not uncommon for somebody who lives in Canada to have debts which are owed to a US lender. Of course, if you went to school in the United States, then you might even have a US … Read more

Is It Possible To File Bankruptcy Often? Typically, people see bankruptcy as a once-in-a-lifetime event – a one-off process that helps you regain financial control. Sometimes, though, you can find yourself facing hardship a second or third time and requiring another bankruptcy. If you are in this predicament, you’re not alone. Data suggests that around … Read more

File For Bankruptcy in Canada The term “bankruptcy” is in common usage across Canada, but what does it actually mean? Fundamentally, bankruptcy is a legal mechanism that prevents creditors from continuing to pursue you for money directly. It is, therefore, a tool that you can use to escape unsustainable monthly repayments and regain control of … Read more

How the Bankruptcy and Insolvency Act can work for you The Bankruptcy and Insolvency Act (BIA)  regulates the law on bankruptcy and insolvency in Canada. The act details how different legal options will work, while defining the role of the Superintendent of Bankruptcy, their representatives– official receivers, the courts, Trustees, creditors, and consumers have. The … Read more

Declaring Personal Bankruptcy in Canada If you’ve got debts that have spiraled out of control, then it’s important to look at your options. When faced with debt in Canada, declaring bankruptcy could be the best solution to help you become debt-free. But if you’ve never been through the process before, filing bankruptcy can be a … Read more

Requirements to Receive Your Bankruptcy Discharge in Canada The bankruptcy discharge process in Canada can take between nine and 36 months, depending on a number of factors, such as whether it is a first or second bankruptcy. There are several steps that must be followed in order to complete the duties required from you after … Read more

Blended Familes and Money Disagreements Blending families raise a lot of tricky issues and when you mix two families, you also mix your values. Tensions can arise when you and your partner have different ideas about how to manage family finances, and this can lead to a lot of arguments. It’s important that you find … Read more

What Alternatives to Bankruptcy are Available if I Can’t Afford to Pay My Bills? One of the most common questions that we get asked is, what are the alternatives to bankruptcy if I can’t pay my bills? Many people find themselves in a position where their debt is building up and they can no longer … Read more

How to Make Informed Financial Decisions It’s easier than ever to get credit on everything from cars to furniture, and even if you have a poor credit score, it’s not that difficult to get a credit card. But this can be a big problem because, when something seems too good to be true, it usually … Read more

Why The Timing of Your Bankruptcy Matters People in debt can face some tough choices to get out of it. One of these is bankruptcy. Bankruptcy can be a suitable solution for dealing with serious debt, but the time you file is important in Canada. Understanding the finer details can help you understand the bankruptcy … Read more

Your Banking Rights If you’re anything like most people, you probably haven’t given your bank much thought at all over the last week. However, when opening an account with any bank, it’s important to know your rights. Knowing your rights means that if your bank violates them, you can contact The Financial Consumer Agency of … Read more

How to Live on an All Cash Diet to Take Control of Your Finances We all do our best to budget responsibly and live within our means. Yet all too often we overspend. Why? Because it has become so easy to part ourselves from our hard-earned money. We can make debit card payments with just … Read more

Do I Have To Go To Bankruptcy Court? Debt is a reality of life for many. And when our debts start to pile up over time, they can quickly spiral out of control. When we become unable to repay our debts, people in Canada may perceive bankruptcy as the only way out. However, what you … Read more

What Are My Rights as a Debtor? Debt collectors have a nasty reputation for treating debtors poorly. Whether it’s threatening them with repossession or humiliating you, debt collectors can be surprisingly ruthless with their methods. But this raises a question; is any of these legal? Can they actually do the things they claim and is … Read more

Watch Out For Your “TEMPO” to Avoid Impulse Shopping / Spending Impulse shopping and spending is a major problem these days. Thanks to the internet, advertisements are not only thrown at us on virtually every website, but they’re targeted specifically at us because it reads the types of products we’ve been searching and our interests. … Read more