What Can They Take During Bankruptcies?

Navigating Asset Safeguards: Unveiling What Creditors Can and Cannot Seize in Canadian Bankruptcies When grappling with mounting debts, the concept of bankruptcy often surfaces as a potential solution. However, the fear of losing cherished possessions can be a significant deterrent. This comprehensive guide aims to demystify the intricate landscape of Canadian bankruptcy laws, shedding light … Read more

Will I Lose My Car If I File Bankruptcy In Ontario?

Navigating Car Ownership During Bankruptcy in Ontario: A Comprehensive Guide In the face of overwhelming debt, filing for bankruptcy can offer a fresh start and financial relief. However, the prospect of losing valuable assets like your car can be a major concern. If you’re considering bankruptcy in Ontario and wondering, “Will I lose my car … Read more

Will I Lose My Car If I File Bankruptcy In Alberta?

Safeguarding Your Vehicle: Navigating Alberta’s Bankruptcy Exemptions The weight of overwhelming debt can cast a long shadow, prompting many to consider bankruptcy as a potential solution. However, the fear of losing cherished possessions, particularly a personal vehicle, often deters individuals from pursuing this path. Fortunately, the reality is far more nuanced, and the laws in … Read more

Can I Keep My Truck if I File for Bankruptcy?

Filing Bankruptcy & Keeping My Truck ‍Filing for bankruptcy is a significant financial decision with far-reaching implications. One of the concerns that often arises is the fate of vital assets such as a truck. If you’re asking, “Can I Keep My Truck if I File for Bankruptcy?”, this extensive guide aims to provide clarity. Understanding … Read more

What Can I Keep When Filing Bankruptcy?

Most Bankrupts Are Able to Keep All of Their Belongings Perhaps one of the most frequent inquiries relating to bankruptcy, it is important to get a thorough understanding of how bankruptcy actually works, and what you can keep when filing. In a state of bankruptcy, your assets become the legal property of your representing Licensed … Read more

Alberta Bankruptcy Exemptions – What Can I Keep?

If you’re thinking of filing for bankruptcy in Alberta, you may be wondering what kinds of exemptions apply. This informative guide provides all the answers you need. Need Help Reviewing Your Financial Situation? Contact a Licensed Trustee for a Free Debt Relief Evaluation Call 877-879-4770 or Schedule Your Free Consultation What can I keep if … Read more

How to Claim Bankruptcy and Keep Your Car

Keeping Your Car in Bankruptcy Claiming bankruptcy is arguably one of the best ways to get a completely fresh financial start. It’s often seen as one of the best ways to “reset” your financial situation if you only have a few assets and mounting unsecured debts. At Bankruptcy Canada, we consider bankruptcy to be one … Read more

How To Preserve An RESP In A Bankruptcy

When you file for bankruptcy, you have to hand over your assets and in return, your outstanding debts will be eliminated. However, there are certain exemptions to protect you, so you don’t lose everything. For example, your home and your furniture cannot be reclaimed, and neither can personal items such as clothing. If you own … Read more

Do I Lose My RDSP If I File Bankruptcy in Canada?

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

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

Allowable Bankruptcy Exemptions in Ontario

What Exemptions are Allowed in an Ontario Bankruptcy? Different Canadian jurisdictions offer different exemptions to bankruptcy. In the province of Ontario, there are some which are not exempt which, unfortunately, includes your home equity. The good news, however, is that provided your situation meets the necessary criteria, there are some items in your possession which … Read more

Bankruptcy Exemptions in Canada

What are the Bankruptcy Exemptions? If you are looking to declare bankruptcy, then it is important to be well-informed about the different aspects of the process including bankruptcy exemptions in Canada. Bankruptcy is an option you could consider if you have unmanageable debt. It could be suggested by a Licensed Insolvency Trustee (LIT) as part … Read more

Bankruptcy Costs and Fees in Canada

What are the Costs and Fees of Going Bankrupt? If you are considering voluntary bankruptcy, it’s important to know the costs and fees involved. When it comes to cost, there are three major components to consider: Monthly contributions required to cover the cost of administration; Surplus income payments; Assets you get to keep, or lose, … Read more