I am filing for Consumer Proposal Or Bankruptcy, Will My Employer Find Out?

Home / Blog / Consumer Proposal, Bankruptcy If you’re facing the possibility of filing for Consumer proposal or Bankruptcy, you may be concerned about privacy issues, particularly with regard to having your employer find out about your bankruptcy. While it’s true that bankruptcy and consumer proposal records are public, however (meaning they can be accessed by anyone who […]

What is a credit rating, and how does bankruptcy affect it?

Home / Blog / Credit, Bankruptcy We’ve all heard the term credit rating, and chances are pretty good that we know that our rating influences a bank’s decision whether or not to lend us money, give us a mortgage, and so on. But how many of us really understand what exactly a credit rating is, how […]

Can I renew my mortgage if I’ve filed for bankruptcy?

Home / Blog / Mortgage, Bankruptcy Home ownership is a huge concern for many people who have filed for bankruptcy, and rightfully so, because it isn’t always a simple issue. Let’s start with the basics: It’s possible for you to keep your home even if you declare bankruptcy. As long as your mortgage payments have […]

Is There a Statute of Limitations on Debt?

Home / Blog / Debt Is There a Statute of Limitations on Debt? If you’re haunted by old debts that you’ve defaulted on, you may be wondering if there’s any time limit on how long the company has to come after you for repayment — a statute of limitations on your debt. The short answer […]

What Happens If My Income Increases During My Bankruptcy?

Home / Blog / Bankruptcy, Financial When you file for bankruptcy, one of your required duties will be to keep track of your monthly income and expenses during the period that you’re bankrupt. Your trustee will give you the forms for doing this, and each month, you’ll pass the information (including copies of your pay […]

What Happens to My Assets When I Go Bankrupt?

Home / Blog / Bankruptcy, Financial If you’re facing the possibility of bankruptcy, you may be wondering what will happen to your possessions — will you lose everything you own, including your house and your car? Not necessarily. The purpose of bankruptcy is to give “honest but unfortunate debtors” a fresh financial start. You are […]

What is Surplus Income?

Home / Blog / Financial When you file for bankruptcy, and depending upon your level of income, you will be required to make payments to your trustee during your bankruptcy period. When your income is over and above what the government says you need to maintain a reasonable standard of living, as set out by […]

What is a tax lien, and what do I do if one is registered against my home?

Home / Blog / Taxes When you owe money to Canada Revenue Agency (CRA), they (like all creditors) will try to collect that debt from you. If the debt is significant and you fail to repay it or negotiate acceptable terms, CRA has the right to place a lien on your home or other property […]

What Happens to My Debts if I Divorce My Spouse?

Home / Blog / Debt Dealing with debt can be difficult at the best of times, and it’s even more complicated and stressful in a divorce situation. If you and your spouse separate, you’ll need to divide your debts as well as your assets. How this is done will depend on how your debts are […]

How to Get Out of Debt Quickly

Home / Blog / Debt Your debts are piling up, you’re beginning to feel overwhelmed, and you want to turn your financial situation around. Congratulations on taking the first step! As fast as you want to make things better, however, we have to be honest with you…it’s not going to happen overnight. That’s the bad […]