Tag Archives: infographics

How Does Bankruptcy Work – Before, During and After?

 03 Jan 2018
how does bankruptcy work | bankruptcy canada

Before Bankruptcy The first step to declaring bankruptcy in Canada is to determine if bankruptcy is the correct debt management solution. Book a debt assessment with a bankruptcy trustee. This is a chance to review your assets, debts and personal budget to understand what a bankruptcy will cost and compare bankruptcy to…

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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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Personal Bankruptcy vs Joint Bankruptcy. Which Should You Choose?

 01 Jun 2015

It is important to understand that if you file for personal bankruptcy it does not mean that your spouse has to declare bankruptcy as well. However if both spouses owe significant debts, either individually or together, it may be necessary for each spouse to consider bankruptcy as a way to…

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What You Keep Or Lose In Bankruptcy in Canada: Infographic

 09 Mar 2015

What you keep or lose in a bankruptcy is governed by both the Bankruptcy and Insolvency Act and provincial legislation. While each province has unique legislation, our infographic explains some of the key similarities in how your assets can be treated if you file for bankruptcy in Canada. You can…

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Secured Debts Vs Unsecured Debts in Bankruptcy in Canada

 14 Jul 2014
treatment of secured and unsecured debt in bankruptcy in Canada

What is the difference between secured debts and unsecured debts when you declare bankruptcy in Canada? Bankruptcy is a chance to start over, and while it does eliminate most debts, it does not deal with them all. One of the biggest distinctions when filing bankruptcy is whether or not your debt is…

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Guide To Filing Personal Bankruptcy in Canada

 07 Apr 2014
filing for personal bankruptcy in Canada

The decision to file for personal bankruptcy does not have to be complicated. Our easy to read infographic walks you through the decision process about how to declare bankruptcy by describing: What is personal bankruptcy? What is is means to talk to a bankruptcy trustee What your bankruptcy duties will…

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Bankruptcy & Insolvency Act: What You Need To Know

 19 Mar 2014

All bankruptcies and consumer proposals in Canada are administered under the Bankruptcy & Insolvency Act (BIA or the Act). This is a federal piece of legislation that governs all aspects of your bankruptcy or proposal. Bankruptcy law was put in place to allow the ‘honest but unfortunate debtor’ to be released…

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What is the Credit Reporting Process For A Bankruptcy?

 12 Feb 2014
bankruptcy credit report

In Canada, credit reports are maintained by two main credit bureaus: Equifax Canada Inc. and TransUnion of Canada. Their objective is to collect information that lenders would consider important in making a decision about whether or not they should grant you a loan. What each credit bureau does is collect…

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