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Bankruptcy

Income Tax Debt in a Bankruptcy or Consumer Proposal

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.

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Consumer Proposal

What is a consumer proposal?

Home / Blog / Consumer Proposal “I know I can file a bankruptcy with a Licensed Insolvency Trustee (“LIT”) but I don’t like that option. I’ve heard about a sort of consolidation an LIT can also help me file called a consumer proposal. What is that exactly?” If you are having some

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Bankruptcy

There’s more to an Insolvency Trustee than meets the eye

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

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Consumer Proposal

Can I pay off my consumer proposal early?

Home / Blog / Consumer Proposal Finances are a fluid thing subject to change for a variety of reasons—and (despite how it may seem sometimes!) not always for the worse. If you’ve filed a consumer proposal only to find that your financial situation has suddenly improved because of a pay

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Bankruptcy

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

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Bankruptcy

Bankruptcy and Consumer Proposal for High Income Earners

Home / Blog / Bankruptcy, Consumer Proposal Bankruptcy and Consumer Proposals for High Income Earners Contrary to what you might think, financial difficulties are not limited to low or middle income earners. In fact, many professionals with high incomes find themselves in financial hot water because their high incomes blind

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Bankruptcy

Alternatives to Filing for Bankruptcy

Home / Blog / Bankruptcy If you find yourself overwhelmed by your debts (and perhaps even fending off calls from creditors and their collection agencies), you may think bankruptcy is your only hope of getting out of financial difficulty.  In reality, however, bankruptcy should always be your last resort—and you

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