Author Archives: Daniel Budd

About Daniel Budd

Daniel Budd, BA, CIRP received his Trustee license in 2014 and has been practicing with M. Diamond & Associates Inc ever since. Daniel is also one of two Canadian Financial Consultants for the Clara Abbott Foundation, a non-profit organization dedicated to helping employees within the Abbott family of companies in times in of financial difficulty, since 2011.

Should I File Bankruptcy for Tax Debts?

03 Aug 2018

One common misconception about bankruptcy is that tax debts, whether owed to Canada Revenue Agency (CRA) or provincially, do not go away after a bankruptcy. But this could not be further from the truth! Only a few types of debts survive a bankruptcy. All tax debts, whether for personal income…

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What Happens To Debt In A Consumer Proposal?

09 Feb 2018

A common question that trustees receive is, “what happens to debts after filing a bankruptcy or consumer proposal?” The legal status of the debt is very simple in a bankruptcy, however, slightly more complicated during a consumer proposal because of its length. When filing a consumer proposal, you are effectively making an…

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Judgements, Liens and Garnishments in Canada – No Need to Panic

04 Apr 2016

Knowing your rights is always important, whether in good financial times or bad. It is important to remember that no matter what, life will go on. This is also true with something that seems so final like a judgement, lien or even a wage garnishment. Even if a creditor gets…

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Maintaining A Business In Bankruptcy

27 Jul 2015

Most people will think that you cannot continue to run a business while in bankruptcy, which in reality, is simply not true. Yes, the bankruptcy may make matters a little bit more complicated at first, however, once you pass those initial stumbling blocks, everything should run the same as before….

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How Does Bankruptcy in Quebec Differ?

18 May 2015

It has long been known that Quebec is somewhat different that the rest of the Canadian Federation, but how does this difference impact a bankruptcy proceeding? At first it is very important to remember that Quebec works within the Civil Law tradition, whereas the rest of Canada falls under the…