Monthly Archives: May 2014

Expecting A Windfall While Bankrupt? What You Need To Know.

 26 May 2014
windfalls & bankruptcy: lottery, inheritence, bonus

One of the more confusing aspects of bankruptcy law in Canada is that when you file for bankruptcy you sign over your interest in the things that you own on the day you file plus anything you may come to own before your bankruptcy is completed.  The law doesn’t apply to…

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5 Facts About Wage Garnishment

 19 May 2014
stop wage garnishment in Canada

Creditors can garnish your wages if you have stopped making payments towards your debt. In most cases they must obtain a wage garnishment order from the court and depending on the province can garnish up to 50% of your wages. If you are facing a a garnishee, read our tip…

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What Does It Mean To File For Bankruptcy?

 12 May 2014
file for bankruptcy

If you file for bankruptcy in Canada it means that your creditors may no longer pursue you directly. If your wages are being garnisheed due to a lawsuit or unpaid debt the garnishee will stop. If collectors are calling you and you file for bankruptcy then the phone calls will…

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How Your Income Impacts Personal Bankruptcy Payments

 05 May 2014
payments during personal bankruptcy in Canada

Income will impact two elements of personal bankruptcy in Canada: the amount you are required to pay, and the length of your bankruptcy. If your net income is below the surplus income thresholds set by the government, and if this is your first bankruptcy and there are no objections to…

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