Fort Erie
Exiting Canada: The Fate of Your Financial Obligations When the decision to leave Canada is made, a bevy of questions surrounding financial responsibilities come into play. What happens to my debts? This article unpacks the complexities and implications of debt management for those planning to leave Canada. The Unavoidable Reality of Debts Whether you are … Read more
Understanding what bankruptcy discharge is, when it happens, and its consequences is crucial for anyone going through the bankruptcy process. This article aims to detail the essential aspects of the bankruptcy discharge process in Canada. Understanding Bankruptcy Discharge Bankruptcy discharge marks the end of the bankruptcy process, freeing the bankrupt from the obligation to repay … Read more
What happens to my debt when I go bankrupt in Canada? Declaring bankruptcy essentially implies that you are legally informing the authorities that you are no longer in a position to repay your existing loans. However, this does not always mean that your debt will be discharged. Discharging of debt involves relieving you of your … Read more
407 ETR Debts in Bankruptcy / Consumer Proposal The Background People with financial woes have two trains of thoughts in their minds usually. One – should they work on a formal Consumer Proposal or file for Bankruptcy? Two – even if they do choose either of these options, to what extent would they be granted … Read more
Foreclosure or Bankruptcy on Mortgage Debt? When it comes to Foreclosure and Mortgage Bankruptcy, there are some key differences one should be aware of. These differences include the process, timeline and most importantly, the ramifications. To learn more, please continue reading. Foreclosure What is it? When you can’t pay your mortgage, your lender may commence … Read more
The Federal Government and the Provinces have limitation acts which provide a limit on the time an unsecured debt survives. Speak to a bankruptcy trustee about your unsecured debts and the statute of limitations. If an unsecured debt is not collected or payments are not made on the unsecured debt then after a certain time … Read more
What Can I Do If I Receive Collection Calls From a Debt Included in Bankruptcy? Collection Calls From a Debt Included In Bankruptcy: Once you have filed bankruptcy all collection activity should stop. Your Trustee is responsible for notifying your creditors that you have gone bankrupt and that the stay of proceedings is in effect. … Read more
