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What is Bankruptcy and What Does it Cost?

What is Bankruptcy? What is Bankruptcy is a straightforward question as bankruptcy is a legal process governed by the Bankruptcy and Insolvency Act, which is a federal law. Once your bankruptcy has been filed, the Stay of Proceedings will go into effect, which puts

Can I Receive Bankruptcy Protection in Canada?

Can I receive Bankruptcy Protection in Canada?    As a status given to a consumer debtor or a business debtor after they have filed bankruptcy, Bankruptcy Protection is set out in the Bankruptcy & Insolvency Act. In order to receive this protection an individual or

What is the Bankruptcy Cost in Canada?

What is the Bankruptcy Cost in Canada? In the vast majority of cases the bankruptcy cost is $1,800.00, which can be paid over 9 months at rate of $200.00 a month. The cost of bankruptcy will depend on several factors such as

What is a Licensed Insolvency Trustee?

What is a Licensed Insolvency Trustee? A Licensed Insolvency Trustee is a person licensed by the Superintendent of Bankruptcy to administer proposals and bankruptcies and manage assets held in trust. The trustee can give a debtor information and advice about both the proposal

What Is The Bankruptcy Law in Canada?

What Is The Bankruptcy Law in Canada? Canadian Bankruptcies Law:  Bankruptcy law, or insolvency law, is a federal law that is governed by the Bankruptcy and Insolvency Act (BIA) and  the Companies' Creditors Arrangement Act (CCAA).    It is overseen by the Office of the Superintendent

How Can I Avoid Bankruptcy?

Avoid Bankruptcy - How to Avoid Bankruptcy In Canada many people have access to easy credit which can make getting trapped in money problems common but many people would like to avoid bankruptcy if possible. In 2016 more than 125,000 people filed bankruptcy or

How Do I Get Out of Debt?

How to Get Out of Debt - Taking Control of Your Debt Twelve Ways to Get Out of Debt Just as there are many different ways you can get into debt, there are a number of different solutions for getting out of debt.

What Alternative to Bankruptcy is Available?

Alternative to Bankruptcy - Bankruptcy Alternatives in Canada What Bankruptcy Alternatives Are Available? The main Alternative to Bankruptcy is to file a consumer proposal.Many debtors facing money problems do not want to file bankruptcy. While going bankrupt might be the best option for

Canadian Student Loans & Bankruptcy

How Do Canadian Student Loans Work? Canadian Student loans debt will be eligible for discharge in bankruptcy if seven years have passed since the former student ceased to be a full or part time student. In cases of undue hardship, a bankrupt may apply

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