Monthly Archives: April 2013

In a recent study one out of every seven people who declared bankruptcy in Canada listed separation, divorce or marital breakdown as a contributing factor to their financial problems. The cost of divorce goes beyond the emotional toll and legal bills. When you are together you have two incomes, but only…

Bankruptcy discharge is the last step in your bankruptcy and what eliminates you from any further obligation for the debts covered by your bankruptcy.  In most cases, a bankruptcy in Canada will end in an automatic discharge with no court hearing. In these circumstances your trustee will send you a copy…

Filing a consumer proposal or bankruptcy will deal with your debts. Both procedures were created by federal bankruptcy law, and are legally binding on your creditors, so once your consumer proposal or bankruptcy is completed the creditors cannot pursue you for those debts. Both solutions deal with your debts, but…

Personal bankruptcy law in Canada is governed primarily by the Bankruptcy & Insolvency Act (“BIA”). There are two primary reasons Parliament created Canadian bankruptcy law: To rehabilitate the honest but unfortunate debtor in order to allow him to gain a fresh financial start; and To provide for a fair and orderly…