November 2023 Insolvency Statistics Report

Bankruptcy – Canadian Insolvency Statistics The latest Canadian insolvency statistics show a rise in consumer proposals month over month and from the prior November in 2022 and a decrease in bankruptcy filings in several provinces from the prior year. Consumer proposals increased 81% in Prince Edward Island in November 2023 (38) compared to November 2022 … Read more

Credit Counselling Burnaby

Credit Counselling Services in Burnaby: A Comprehensive Guide Credit Counselling Burnaby is a specialized service intended to assist individuals in handling their financial challenges. This guide aims to provide a comprehensive understanding of these services, how they work, and how they can benefit you. Understanding Credit Counselling Burnaby Credit Counselling Burnaby is a service aimed … Read more

Debt, Bankruptcy & Consumer Proposals With a Licensed Insolvency Trustee

Exploring Bankruptcies & Consumer Proposals With a Licensed Trustee It’s no secret that financial hardship and debt go hand in hand. Overwhelming debt can put a significant strain on your financial health, leading to additional debt and further problems. In other instances, unexpected life events or circumstances might force you to take on debt to … Read more

Segregated Funds & Bankruptcy Filings

Understanding Segregated Funds and Their Implications in Bankruptcy Financial instruments like segregated funds can be mystifying for the uninitiated. However, understanding their nuances can provide a significant edge, especially when facing bankruptcy. This article offers a comprehensive overview of segregated funds and their effects in bankruptcy. What are Segregated Funds? Segregated funds, also known as … Read more

Ex Common Law Husband Claiming Bankruptcy

Understanding Bankruptcy Bankruptcy is a legal status that an individual or business can declare when they are unable to repay their debts. It’s a drastic measure with lasting impacts, so understanding what leads to bankruptcy is crucial to avoid it. Early Warning Signs of Bankruptcy Recognizing the early signs of bankruptcy can prevent the situation … Read more

How Can A Consumer Proposal Or Bankruptcy Help Prevent You From Being Evicted?

In the current financial climate, it’s no secret that the cost of living is increasing at an alarming rate. The situation is particularly challenging for those who are renting their homes, especially in areas like Winnipeg and the rest of Manitoba. For instance, the average rent for a one-bedroom unit in Winnipeg has seen an … Read more

Why Are Young People Claiming Bankruptcy Earlier Than Ever?

Why Are Young People Claiming Bankruptcy Earlier Than Ever? The Unseen Impact of Student Debt Bankruptcy among young adults, a phenomenon often associated with American society, is increasingly becoming a Canadian reality. Current data suggests that one out of every six insolvencies in Canada is linked to student debt. Moreover, a significant number of individuals … Read more

Declaring Bankruptcy in Saskatchewan

Bankruptcy is a legal process designed to provide relief to individuals and businesses struggling with unmanageable debt. This article delves into the specifics of declaring bankruptcy in Saskatchewan, a province in Canada. We’ll explore the process, the role of a bankruptcy trustee, legal requirements, costs, and alternatives, among other details. Understanding Bankruptcy Bankruptcy is a … Read more

Help With Bankruptcy in Ontario

Bankruptcy is a viable option for many individuals facing insurmountable financial difficulties. However, the process can be complex and intimidating. This comprehensive guide aims to demystify the process and provide valuable insights into seeking help with bankruptcy in Ontario. Understanding Bankruptcy in Ontario Bankruptcy in Canada is a legal process governed by the Bankruptcy and … Read more

Bankruptcy Ontario: What Can I Keep?

What You Can Keep When Going Bankrupt in Ontario Filing for bankruptcy in Ontario implies a significant financial decision with substantial implications. The process might seem daunting, especially when you’re uncertain about the assets you can retain. This guide aims to shed light on the topic, “Bankruptcy Ontario: What Can I Keep?“, to help you … Read more

How Do You File for Bankruptcy in Ontario?

How to File for Personal Bankruptcy in Ontario Filing for bankruptcy is a significant decision that requires careful thought and planning. This exhaustive guide will walk you through the process of filing for personal bankruptcy in Ontario, demystifying the steps, and debunking common misconceptions along the way. 1. Understanding Bankruptcy Bankruptcy is a lawful process … Read more

Small Business Bankruptcy in Ontario

Navigating the intricacies of Small Business Bankruptcy in Ontario can be a daunting task. Regardless of its size, declaring bankruptcy for your business is a significant decision that requires thorough contemplation and understanding of the facts. This guide aims to shed light on the bankruptcy process for small businesses in Ontario, helping you make an … Read more

Personal Bankruptcy Ontario Rules

Understanding the complex nature of personal bankruptcy in Ontario can be a daunting task. This guide aims to provide an in-depth analysis of the Personal Bankruptcy Ontario Rules to help you navigate the process with ease. Overview of Bankruptcy Laws in Ontario The bankruptcy law in Ontario is governed by four significant legislations: The Canadian … Read more

How Long Does Bankruptcy Last in Ontario?

Understanding Bankruptcy Duration in Ontario Bankruptcy can seem daunting, but understanding its intricacies, especially its duration can help in making informed financial decisions. This article will decipher the question, “How Long Does Bankruptcy Last in Ontario?” in a comprehensive manner. The Concept of Bankruptcy Bankruptcy is a legally recognized condition of insolvency, providing a structured, … Read more

Consequences of Bankruptcy in Ontario

Bankruptcy, a legal process that discharges overwhelming debts, is often viewed as a last resort for individuals and businesses struggling financially. This article explores the Consequences of Bankruptcy in Ontario, providing a detailed understanding of its positive and negative effects, the step-by-step process, and potential alternatives. Understanding Bankruptcy Bankruptcy is a legal declaration made by … Read more

Claiming Personal Bankruptcy in Ontario

A Comprehensive Guide to Ontario Personal Bankruptcy In the face of overwhelming debt, claiming personal bankruptcy in Ontario can be a viable route towards a fresh start. This guide aims to demystify the process and help you navigate the complex environment of personal insolvency. Understanding Personal Bankruptcy What is Personal Bankruptcy? Personal bankruptcy is a … Read more

Filing for Personal Bankruptcy in Ontario

Personal bankruptcy is a legal process, regulated by the Bankruptcy and Insolvency Act (BIA), designed to provide financial relief to individuals who are unable to pay their debts. This article aims to provide a detailed guide on Filing for Personal Bankruptcy in Ontario, offering insights into the process, the laws involved, and the potential consequences. … Read more

Bankruptcy Ontario: Surplus Income Calculation

Understanding How Surplus Income Payments are Calculated in an Ontario Bankruptcy Bankruptcy is a legal process that provides relief to individuals struggling with unmanageable debt. However, in Ontario, the calculation of surplus income during bankruptcy is critical. This article will delve into the intricacies of the Bankruptcy Ontario Surplus Income Calculation, offering practical examples and … Read more

Declaring Bankruptcy in Ontario

Understanding Bankruptcy in Ontario: A Comprehensive Guide Facing a mountain of debt can be daunting. If you’re considering declaring bankruptcy in Ontario, it’s crucial to understand the implications, both positive and negative. This guide will provide an in-depth understanding to help you make an informed decision. Pros and Cons of Bankruptcy Declaring bankruptcy in Ontario … Read more