Filing Bankruptcy in Canada

Can One Spouse File Bankruptcy? Your spouse, whether common law or married will not be affected by your bankruptcy if he or she is not responsible for any of your debt (did not sign an agreement or contract for any of your debt). Whether your creditors will go after your spouse when you declare personal … Read more

In order to file for bankruptcy in Canada you need to use the services of a Licensed Insolvency Trustee (LIT) who is the only debt relief expert who can help you with filing bankruptcy and is the only professional who can answer the question “Where to File For Bankruptcy.” Need Help Reviewing Your Financial Situation? … Read more

Collection Agencies – Information and Advice If you owe money to a creditor and have stopped making your payments then debt collectors and collection agencies might start calling you to recover the money owed. Tips for Dealing With Collections: • If possible, your best course of action would be paying the amount you owe; • … Read more

How to File a Complaint You have a right to basic banking services. If your bank cancels or refuses to open a bank account for you because you have been or are in bankruptcy they are breaking the laws of the land. The law is set out in Sections 3, 4 and 5 of the … Read more

One purpose of the Bankruptcy and Insolvency Act (“the Act”) is to provide for the fair and timely distribution of the belongings of a bankrupt not protected by the exemptions to his or her creditors. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation … Read more

A Short History of Consumer Bankruptcies in Canada – During the period from 1958 to 1971 the Canadian personal bankruptcy filing frequency was fairly consistent and at an extremely low level for a modern country with an industrial society. As an example, Canada had six (6) bankruptcies per 100,000 population in 1968, while by contrast, … Read more

Many Canadians are juggling different debt payment obligations and it can often become a struggle for many. Sometimes keeping your head above water can be a real challenge, and if this is the case for you, you might be considering how does debt consolidation work? Consolidating your debts is one way for Canadians struggling with … Read more

Is Filing for Bankruptcy My Best Option? Many Canadians who have a serious debt problem consider filing for bankruptcy, and some even think that it is their only way to get out of debt. There are many different circumstances in which a Licensed Insolvency Trustee (formerly a bankruptcy trustee) may not recommend that you go … Read more

Canadian consumers can find themselves in serious financial difficulties for many different reasons. You might find that you have trouble making your mortgage payment on time, or you might be having trouble making the minimum payments on your credit cards. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief … Read more

Are Most Bankrupts Irresponsible People? Many people have many different feelings when making the decision to speak with a Trustee. Many people admit to feeling worried, nervous, confused, embarrassed or ashamed. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation The same people often … Read more

Many Canadians are struggling with debt. Many of these people are facing sleepless nights and stress at home. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation Most know that they need to do something about their debt problem. Unfortunately, many of these people … Read more

Can I be forced into bankruptcy is a worry many debtors have. Fortunately, the answer to “Can a Trustee Force Me Into Bankruptcy” is no! Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation The role of the Trustee is to listen to a … Read more

What is Bankruptcy Mediation? If you are in a disagreement with your creditors or Trustee during your bankruptcy process, you can seek mediation. Mediation involves an impartial person working with the parties involved to resolve the conflict. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Schedule Your Free … Read more

Surplus Income in Bankruptcy Surplus income is the name given to the calculation a Trustee must use to determine the monthly payments that a bankrupt must make. If the bankrupt’s income is over a certain level set by the government calculation, then they must make the required surplus income payments. Our Bankruptcy Calculator will give … Read more

What Happens if I Don’t Fulfill My Duties During A Bankruptcy? If you have not completed any of your duties, your Trustee will be forced to oppose your discharge. Without your discharge, your debts will still exist and your creditors can pursue you for collection just as though you never filed bankruptcy. Receiving a fresh … Read more

Need Help Reviewing Your Financial Situation? Contact a Licensed Bankruptcy Trustee for a Free Debt Relief Evaluation Schedule Your Free Consultation There are many reasons why people file bankruptcy, especially with the economy struggling in parts of the country. Most bankruptcies are filed by individuals and there are many reasons why a bankrupt faces monetary … Read more

Many people know they must file for bankruptcy or a proposal but keep putting it off, hoping for a change in circumstance or a miracle. It is important you conduct yourself properly concerning whom you pay and how you deal with your assets while you are deciding whether to file for bankruptcy. If you don’t, … Read more

Bankruptcy vs Alternatives: Should I File a Consumer Proposal or Go Bankrupt? Bankruptcy vs Consumer Proposal You have decided to see a trustee to get some options to deal with your financial crisis.  From the research you have done you have homed in on either bankruptcy or a consumer proposal to deal with your debt … Read more