Category Archives: Personal Bankruptcy

Advice and information on personal bankruptcy in Canada provided by Bankruptcy Canada trustees. Learn important facts about filing bankruptcy then contact one of our local bankruptcy trustees in your province who can help.

What To Do When You Receive a Collection Call

 06 Feb 2017
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Collection calls start when a debt is not being paid. It may be a first missed payment, or a forgotten debt that has now been passed off to a third party collector. Regardless of why you’re getting collection calls, it’s time to stop and take action. Understand the impact of collection…

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Not All Credit Counsellors Are Created Equal

 02 Jan 2017
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For a number of years, I have been on record as recommending credit counsellors as an excellent source for assistance when people begin to experience financial difficulty. Unfortunately the meaning of the title “credit counsellor” has changed. Many individuals now calling themselves credit counsellors are not affiliated with either the Canadian…

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Bankruptcy And Consumer Proposals Are About A Fair Process For All

 07 Nov 2016

When the rules regarding bankruptcies and consumer proposals were initially drafted in Canada, the overriding concern was that the processes and procedures be fair to everyone involved. Yet, this is not as easy as it sounds. To be fair to everyone, bankruptcy rules and legislation have to balance a person’s need…

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What Happens To Your Debt If Your Spouse Files Insolvency?

 05 Sep 2016

It is a misconception that when you’re married, you’re responsible for your spouse’s debt. Whether or not creditors will pursue you depends on who actually owes the debt. Debt in Your Spouse’s Name While you might feel a moral responsibility to help with your spouse’s debt, legally it belongs to…

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Home Equity, Mortgage Arrears and Debts. Should You File Bankruptcy?

 02 May 2016

Here’s a debt scenario that presents a challenge – what do you do if you have equity in your home but are behind on mortgage payments, owe other money, are getting collection calls and need protection? Should you file bankruptcy or are there other options? How to deal with debts…

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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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Need Debt Assistance? Talk To A Bankruptcy Canada Trustee

 11 Jan 2016

Many people are not sure where to turn when they experience financial difficulties. Researching your options can get overwhelming and knowing what information to trust can be stressful. Presumably you are in that very situation since you’ve searched for debt assistance online. The internet is a great source of information, but…

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What Is Disclosed on Your Bankruptcy Application?

 07 Dec 2015

Part of the process of filing bankruptcy includes disclosing necessary information. Our quick infographic highlights what you will need to tell your bankruptcy trustee and disclose on your bankruptcy application and what happens if you miss something.

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Everything You Need To Know About Payday Loans

 07 Sep 2015
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Payday loans are for many a vicious trap. We’ll take a look at how payday loans works and why they cause so much financial problems. The Payday Loan Process: The borrower visits a payday loan store to obtain a small loan that is payable in full, plus fees, on the…

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Maintaining A Business In Bankruptcy

 27 Jul 2015
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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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