Category Archives: Bankruptcy Q&A

Question: How much does it cost to go bankrupt? And why? Seems to me if your going bankrupt it’s because you have no money. Bankruptcy Does Cost, But What’s Your Alternative? You are correct; it does cost money to go bankrupt, for two reasons. First, there is a small cost…

Question: A creditors’ meeting has been called and I wonder what questions they can and cannot ask. Can they only ask about the past and where the money was spent before bankruptcy? Can they ask about personal expenses such as medical expenses and what drugs I am paying for? Do…

Question: If I file a consumer proposal what is the quickest way to rebuild my credit? Should I save up for a secured credit card or just pay off the proposal as fast as possible first? Also, during a consumer proposal, is it possible to get a loan for a…

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…