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If you have high levels of debt and are facing the possibility of bankruptcy, filing for a consumer proposal can be one of the best ways to regain control over your finances. Borrowers with high interest rates and outstanding balances can apply for a consumer proposal and begin to get out of debt. But what exactly are the requirements?  Read More

Even if your financial situation is so overwhelming that you are filing for personal bankruptcy, you will not have to give up all your possessions. Bankruptcies are not intended to be punitive, but are instead the fairest way for the honest debtor deal with their debt and move forward.  Read More

The law protects the rights of every party in bankruptcy: the creditors, the trustee, and the debtor. As a debtor, the law protects you from undue stress caused by collection agencies which harass debtors. If you are being illegally harassed by a collection agency, you can make an official complaint.  Read More

Under Canadian law, you have the right to open a bank account regardless of a lack of a job, a lack of money to put into the account right away, or past bankruptcy.  Read More

If you have mounting debts which you are unable to pay, your creditors could use a collection agency to chase you for payment. These collection agencies could threaten you with court action, or threaten to seize your assets.  Read More

If your financial situation is so dire that you are considering seeing a lawyer about your debt problems, you should first make a thorough assessment of your finances. You may be able to solve your financial problem yourself, but if not you need to know where to go for help.  Read More

In Canada, consumer proposals or personal bankruptcies must be administered by a licensed bankruptcy trustee. Bankruptcy trustees are not lawyers. Bankruptcy lawyers do not—unlike in the US—administer bankruptcies. If you decide to declare bankruptcy, a bankruptcy trustee must file the paperwork for you.  Read More

In Canada, the laws governing bankruptcy and insolvency are regulated by a statute known as the Bankruptcy and Insolvency Act (BIA). This statute covers laws relating to bankruptcy, commercial and consumer proposals, and also receiverships.  Read More

One of the biggest deterrents people consider when considering bankruptcy is the adverse effect it has on their credit score, which in turn has a negative effect on their ability to rent an apartment. Many people often think of a nightmare scenario in which bankruptcy leads directly to homelessness, but this is simply untrue.  Read More

Once you’ve filed bankruptcy, chances are you’ve already gone through a lot of grief. Once the worst is behind you, it’s time to make financial plans to get back on your feet. A key part of this is, obviously, finding a new job and starting to save again. The catch-22 of this, however, is the effect of bankruptcy on your job search.  Read More