Yearly Archives: 2013

What Happens To My Assets In A Bankruptcy?

 22 May 2013
assets in bankruptcy - what you keep

There are three basic types of assets in bankruptcy: Exempt, Non-Exempt, and Secured. Exempt Assets in Bankruptcy If an asset is exempt from seizure, you won’t lose it if you file for bankruptcy. The rules that define what assets are exempt are provincial rules, so each province has slightly different…

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Consumer Proposal or Debt Settlement: What’s The Difference?

 20 May 2013
consumer proposal or debt settlement

You’re looking for ways to reduce your debt but don’t understand the difference between a consumer proposal and a debt settlement. Are they different? Both offer to settle your debts for less than you owe so which is better? How can you tell what is the right choice? To best…

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Meet out Edmonton Bankruptcy Trustee – Local, Professional Advice

 17 May 2013
Bankruptcy Edmonton Trustee Goth & Company

Today we meet with Goth & Company Ltd., our local, independent Edmonton bankruptcy trustee and licensed proposal administrator. Goth & Company is a local insolvency practice that has proudly served the residents of Edmonton, Red Deer, Northern Alberta and the North West Territories for the last 20 years. We have…

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Tips For Dealing With Collection Agencies

 15 May 2013
dealing with collection calls

Harrassing collection calls from creditors can be both embarrassing and stressful. Clients tell us they receive calls all day, at home and at work and they are at their wits end. How can you stop calls from collection agencies? Here are some tips for dealing with collections agents. Find out…

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How Often Can You File Bankruptcy?

 13 May 2013
Bankruptcy information

For most people, filing for bankruptcy is a “once in a lifetime” event. Unfortunately, sometimes things happen and you may be finding yourself once again facing financial hardship and looking at the possibility of filing bankruptcy a second time. If so, you are not alone. Approximately 10% of bankruptcies are…

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Meet our Ontario Bankruptcy Trustee – Local Debt Advice

 10 May 2013
ontario bankruptcy trustee

Today we meet with Hoyes, Michalos & Associates Inc., our local trustee in bankruptcy providing debt management advice for individuals who may need to file for bankruptcy or a consumer proposal in Southwestern Ontario. Douglas Hoyes and Ted Michalos founded Hoyes, Michalos & Associates Inc. in 1999 for one simple…

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The Bankruptcy Gap In Canada

 08 May 2013
causes bankruptcy

Who’s More Likely To Declare Bankruptcy? Filing bankruptcy in Canada is more common than you think and it affects Canadians from all walks of life. In 2012, more than 118,000 Canadians filed for insolvency in Canada. But who is at risk of filing bankruptcy or a consumer proposal? Too Much…

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Should I Consolidate My Student Loan and Credit Card Debt?

 06 May 2013
student-loans-bankruptcy

Question: I have a pretty hefty student loan of $55,000, which I’ve recently started paying. I also owe about $12,000 in credit card debt. I’m wondering if I should apply for a consolidated debt loan of $67,000. My monthly payments would be roughly $700, half of which are monthly interest…

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Notifying Creditors You Are Declaring Bankruptcy

 02 May 2013
notifying creditors of bankruptcy

Creditors are calling trying to collect the money you owe and you can’t pay, so you decide to file for bankruptcy.  What’s the process for notifying creditors you are declaring bankruptcy and stopping the collection calls? As soon as your bankruptcy paperwork is signed, your trustee will electronically file it…

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Consumer Bankruptcies Continue Decline

 30 Apr 2013
Bankruptcy and Consumer Proposal volumes - Canada - February 2013

Canadian consumer bankruptcies in February 2013 were 14% lower than they were a year earlier, continuing their downward trend. Consumer proposals also declined, down 7% year over year. The decline is likely more a reflection of higher personal earnings and low interest rates than it is recent, and small, improvements…

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