Tag Archives: dealing with creditors

Will An Automatic Stay Of Proceedings Stop Canada Revenue Agency?

12 Sep 2018

Filing a consumer proposal or bankruptcy creates an automatic “stay of proceedings” under federal law. That means that your creditors, the people you owe money to, cannot start or continue legal action to collect the debt. No other consumer debt relief option can make that claim. A common question that…

What Happens To Debt In A Consumer Proposal?

09 Feb 2018

A common question that trustees receive is, “what happens to debts after filing a bankruptcy or consumer proposal?” The legal status of the debt is very simple in a bankruptcy, however, slightly more complicated during a consumer proposal because of its length. When filing a consumer proposal, you are effectively making an…

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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…

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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Everything You Need To Know About Payday Loans

07 Sep 2015

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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Using Your Credit Card Before Bankruptcy. Is There Any Risk?

02 Jun 2014

What would happen if you maxed out your credit cards and then went bankrupt? It sounds like a great idea. You go on a shopping spree and buy everything you need, and then go bankrupt so you don’t have to pay it back! Why stop there? Why not take some…

5 Facts About Wage Garnishment

19 May 2014

Creditors can garnish your wages if you have stopped making payments towards your debt. In most cases they must obtain a wage garnishment order from the court and depending on the province can garnish up to 50% of your wages. If you are facing a a garnishee, read our tip…

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Wage Garnishment Laws & Declaring Bankruptcy

31 Mar 2014

If your wages are being garnisheed by a creditor then filing bankruptcy and/or a consumer proposal can stop the garnishee. In fact, a wage garnishment is affected by an automatic feature of the law called a stay of proceedings. How To Stop A Wage Garnishment When You File Bankruptcy In…

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Dealing With Creditors After Your Bankruptcy Is Finished

19 Feb 2014

There are many periods during which you, and your trustee, will need to talk to your creditors about your bankruptcy. Before filing, you may be receiving collection calls and need to take advantage of the Stay of Proceedings offered by filing bankruptcy. Once you have filed bankruptcy or a consumer…

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