Financial recovery requires the right tools
Can Tax Debt Be Included in Bankruptcy or a Consumer Proposal? Yes — and here’s what every Canadian taxpayer needs to know. If you owe money to the Canada Revenue Agency (CRA), you’re not alone. Many individuals struggling with debt find themselves owing back taxes — sometimes a significant amount.
Home / Blog / Bankruptcy, Financial Financial troubles don’t end at borders—or even oceans. If you’re a Canadian citizen no longer living in the country, and you still have debts in Canada that you are unable to pay, you may be wondering whether or not you can file for bankruptcy.
Home / Blog / Bankruptcy As far as economic news goes, many will agree that it’s a good thing that the number of personal bankruptcies in Canada has declined more than 19% since 2011. The Office of the Superintendent of Bankruptcy, the arm of Industry Canada that regulates insolvencies, also reports that
Home / Blog / Insolvency Trustee Question: Licensed Insolvency Trustee. That’s the new title replacing “Bankruptcy Trustee”. Why the change? First off, bankruptcy is a dirty word. People are afraid of what they think it means. The “Bankruptcy Trustee” title led to people making assumptions they shouldn’t make about what Trustee do and how they
Home / Blog / Bankruptcy If you have missed paying your mortgage payments and haven’t made other arrangements with your bank, chances are pretty good that your bank’s next step will be to start power of sale proceedings against your home. Before that happens, there are steps you can take
Home / Blog / Bankruptcy, Debt If you’re currently in bankruptcy (or you’ve already filed for it) and your financial situation suddenly changes for the better (think inheritance, lottery win, etc.), is there anything you can do to get out of bankruptcy? You’ll be pleased to know that the answer to this
Home / Blog / Bankruptcy, Debt Bankruptcy and consumer proposals can have an impact not just on the person declaring bankruptcy or filing a proposal, but also on anyone who may have cosigned for one of his/her debts as well. Here’s what you and your cosignor need to know: Cosigning
Home / Blog / Consumer Proposal, Bankruptcy If you’re considering the possibility of filing a consumer proposal or declaring bankruptcy, you should be aware that assets such as vehicles are handled very differently in those two procedures. In a consumer proposal, if you own the vehicle free and clear, you
Home / Blog / Bankruptcy If you’re facing the possibility of filing for bankruptcy or a consumer proposal, you may be concerned about privacy. Who will find out? Will the neighbours know? Your boss? Or (perish the thought!) your in-laws? Well, we have encouraging news for you. In most bankruptcies
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
