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 and Professional Designations

 01 Jul 2013
Stress over causes of bankruptcy

Question: I would like to file bankruptcy, but I’m currently in university and looking to eventually become a Chartered Accountant. If I file bankruptcy will I not be able to become designated in the future? Bankruptcy and Chartered Accountant Designation There is no specific rule that disqualifies you from becoming…

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Should You Open a New Bank Account After Filing Bankruptcy?

 19 Jun 2013
bank account and bankruptcy

The best advice we can give is that you should open a new bank account BEFORE filing bankruptcy or a consumer proposal rather than waiting to open an account until after you file. We suggest you do this for your own protection. Filing bankruptcy in Canada eliminates your unsecured debts,…

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What Time Of Day Can Debt Collectors Call My Home?

 10 Jun 2013
overdue bill and collection calls

Many people are intimidated by the “thought” that a collection agent may contact them directly about money that they owe and haven’t been able to repay. The anxiety is caused from a lack of knowledge – what can and can’t a collection agency do? Very briefly, collection agencies are businesses…

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How Long Will My Second Bankruptcy Last?

 05 Jun 2013
how long does bankruptcy last

Under Canadian bankruptcy law, a first bankruptcy lasts for a minimum of nine months. A second bankruptcy lasts for a minimum of 24 months (2 years). If you have surplus income, a second time bankruptcy will extend for 36 months (3 years). A first bankruptcy appears on your credit report…

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Collection Agency Threatens To Sue For Unsecured Credit Card Debt

 03 Jun 2013
Credit Card After Bankruptcy

Question: My husband and I have gotten into trouble with credit. We have 4 unsecured credit cards (including department store credit cards) and they have been sent to collection. The problem is that some of them are threatening to sue. We pay a mortgage and have 2 car loans, all…

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Our Bankruptcy Nova Scotia Trustee – Proudly Local

 31 May 2013
Bankruptcy Nova Scotia Trustee

Looking for a local Nova Scotia bankruptcy firm that will give you expert advice on your finances and treat you with understanding and respect at the same time? Look no further than Allan Marshall and Associates Inc. Allan Marshall & Associates Inc. is a bankruptcy and insolvency firm that provides…

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Thinking About Bankruptcy? What You Should Know.

 29 May 2013
Bankruptcy information

If you have a lot of debt and you are thinking about bankruptcy as a solution, there are four factors you should consider. Bankruptcy will eliminate most of your debts, but not all debts. Bankruptcy discharges your unsecured debts, such as credit cards, payday loans, bank loans, and even income…

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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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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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