Monthly Archives: December 2013

5 Personal Bankruptcy Warning Signs

18 Dec 2013

It may seem easier to juggle payments around each month, hoping your financial situation improves so you can get out from under the burden of dealing with debt payments. Unfortunately, things tend to accumulate and eventually this can lead to bankruptcy. So, here are the top 5 personal bankruptcy warning…

Being Sued or Threatened Over A Debt? Should You Consider Bankruptcy?

16 Dec 2013

Suing you is the final “threat” that a collection company makes when they are trying to pressure someone to make payments towards an overdue debt. In reality, very few people are ever sued, but the threat certainly gets your attention. Before discussing how filing for bankruptcy or a consumer proposal…

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Over The Surplus Income Threshold? What Happens.

11 Dec 2013

Surplus Income Limit Threshold in Bankruptcy

The actual cost to file bankruptcy is based on two things – what you own and how much you earn. It doesn’t matter how much you owe – you might owe $10,000 or $10 million. It won’t affect the amount you have to pay in order to be relieved of…

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Calculating Surplus Income Step-by-Step

09 Dec 2013

If you’ve read about what goes into determining the cost of your bankruptcy in Canada, you know that one of the factors is something called Surplus Income. Conceptually surplus income in a bankruptcy says that the amount you pay is more if your income is higher. There is a base amount…

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Why Get A Debt Evaluation From A Bankruptcy Trustee?

04 Dec 2013

debt evaluation experts | bankruptcy trustee

The idea for this article was taken from an anonymous e-mail someone sent to one of the public chats that I write responses on. My first reaction, was to compare a debt evaluation from a bankruptcy trustee to a visit to the dentist’s office when you have a sore tooth….

How Can I Go Bankrupt If I Have No Money?

02 Dec 2013

Question: How much does it cost to go bankrupt? And why? Seems to me if your going bankrupt it’s because you have no money. Bankruptcy Does Cost, But What’s Your Alternative? You are correct; it does cost money to go bankrupt, for two reasons. First, there is a small cost…

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