Tag Archives: bankruptcy trustee

How Are Tax Refunds Affected In A Bankruptcy?

15 Jul 2019

One asset that is affected by a personal bankruptcy is income tax refunds. The law requires that Canada Revenue Agency (CRA) send the trustee income tax refunds for specific years so that the refund can be included in the proceeds available to the creditors. Let’s consider three different periods of time:…

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You Should Be Looking For a Licensed Insolvency Trustee

03 Apr 2017

The Bankruptcy & Insolvency Act provides different debt restructuring options for Canadians, which includes both personal bankruptcies and consumer proposals. We’re seeing a steady trend where Canadians are increasingly using consumer proposals as a way to deal with their debt. But once you know how to deal with your debts,…

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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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Debt Management Services From A Trustee. Why We’re The Experts.

13 Jul 2015

Search online. Listen to the radio. Talk to your friends and co-workers. There is no shortage of people offering to help you with your money problems. There is a common misconception that a bankruptcy trustee can only help you with bankruptcy, when in fact, our help extends beyond filing insolvency. How Can…

In Doubt About Talking To A Bankruptcy Trustee?

04 May 2015

Sun Tzu is given credit for stating, “If there is doubt then there is no doubt”. If you think you “may need” to speak to a trustee – then you do need to speak to a bankruptcy trustee. Sorry, but it is that simple. We are all very good at convincing ourselves…

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Common Debts Included In Personal Bankruptcy

23 Mar 2015

When looking at the reasons people file bankruptcy in Canada, similarities begin to emerge. Job loss, income reduction, illness and divorce are some of the most often cited reasons. But did you know that who you owe and how you accumulate debt can be a risk factor as well? We know…

Who Is The Official Receiver & Do They Affect My Bankruptcy?

26 Jan 2015

There’s something about adding the word “official” to a title that can intimidate a person right off their seat. This is often true with the Official Receiver (OR) in a bankruptcy, a participant in the bankruptcy process. Sometimes, all it takes to knock the associated fear factor down a few notches…

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Why You Need To Meet With A Bankruptcy Trustee In Person

03 Nov 2014

Do you really need to book a consultation to talk to a bankruptcy trustee or debt advisor to help you with your financial problems? Can’t you just discuss your situation over the phone, via e-mail or even on-line? Call centres are fine for technical support questions when your cable TV service has…

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What You Need To Disclose To A Bankruptcy Trustee

18 Aug 2014

On the day you sign your bankruptcy paperwork you will be required to “swear” before a Commissioner of Oaths that the information contained on your Statement of Affairs is true and complete. To do that, you must disclose various information to your bankruptcy trustee, including the following information about: what…

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A Bankruptcy Trustee. Setting the Record Straight.

11 Aug 2014

Most people don’t really understand what a bankruptcy trustee is, who they work for, or how they get paid. It is not complicated, but there’s so much misinformation on the internet that I thought it was worth a few minutes of our time to set the record straight. First and…

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