Author Archives: Bankruptcy Canada Trustee

About Bankruptcy Canada Trustee

Bankruptcy Canada is a free service provided by bankruptcy trustees in Canada to explain how bankruptcy works, how you can avoid bankruptcy, and helps you decide whether bankruptcy is the right option for you and your family.

Bankruptcy in Canada and Loan Co-signed by Sister

 07 Mar 2012

Question: My sister cosigned for a small loan, and decided to have the payments come out of her bank account instead of mine for the entire agreement. I need to file bankruptsy so she wanted to know if she was expected to make the total in full, or just keep…

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RRSP and Bankruptcy in Canada – Do I Lose it?

 06 Mar 2012

Question: I live in British Columbia. Are RRSPs exempt from creditors? Answer: The rules regarding RRSPs and bankruptcy are the same everywhere in Canada. You are allowed to keep your RRSP, except for whatever you have contributed in the 12 months before your date of bankruptcy. So, for example, if…

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Bankruptcy Information Canada

 05 Mar 2012

Where can you find all of the bankruptcy information in Canada you need?  How can you research your options? Our expert local bankruptcy trustees have partnered together to provide comprehensive information about bankruptcy, bankruptcy alternatives and overall debt advice for our readers. If you are looking for information about bankruptcy,…

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Surplus Income if Spouse Won’t Disclose Income

 03 Mar 2012

Note: the question in this article contains old surplus income limits. Click here to review the updated limits. Question: I am planning on filing personal bankrupty. I am married with 1 child. My husband does not want his income calculated in the surplus income because the majority of my debt…

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Bankruptcy Canada Student Loans

 02 Mar 2012

How student loans are affected by a bankruptcy in Canada can be quite confusing. The laws around bankruptcy Canada student loans have changed in recent years adding to the difficulty in knowing whether or not your student loans would be discharged in a bankruptcy. While we explain the general principles…

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Bankruptcy in Canada: What you need to know

 01 Mar 2012

To understand bankruptcy in Canada, you need to be aware of these three key points: First, the main reason for declaring bankruptcy in Canada is to protect yourself from your creditors.  Many people mistakenly believe that you go bankrupt if you have too much debt.  That’s true, but debt alone…

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Alternatives to Bankruptcy Canada: The Top Five Bankruptcy Alternatives

 29 Feb 2012
bankruptcy alternatives

There are five alternatives to bankruptcy in Canada. It’s important to understand all alternatives to bankruptcy in Canada before you make a decision on how to deal with your debts.  Your options to avoid bankruptcy in Canada are: Do nothing.  If you are not working, and if you have no…

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Loans After Bankruptcy in Canada: How to Get a Loan?

 27 Feb 2012
loans after bankruptcy

It is possible to get a loan after bankruptcy in Canada.  To qualify for a loan, you need to re-build your credit by following these steps: Get your bankruptcy discharge as soon as possible.  Perform all of your duties so that there are no delays in getting your discharge.  As…

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Credit Card After Bankruptcy Canada

 24 Feb 2012
Credit Card After Bankruptcy

Is it possible to get a credit card after bankruptcy in Canada? Yes. Here are three ways to get a credit card after your get your discharge from bankruptcy. The first two options will also allow you to have a credit card during bankruptcy. Get A Supplementary Card The first…

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Consumer Proposal Canada: How does it work?

 22 Feb 2012

A consumer proposal is an alternative to bankruptcy in Canada. A licensed consumer proposal administrator works with you to negotiate a settlement with your creditors. For example, if you owe $40,000 on credit cards, bank loans, payday loans and taxes, it might be possible to negotiate a settlement where you…

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