Posts in Bankruptcy
February 2017 Personal Bankruptcy & Consumer Proposal Statistics

Bankruptcies were down 1.6% and consumer proposal filings were up 6.4% as compared to the 12-months ended February 29, 2016. Provincial breakdown...

Read More
2017 Surplus Income Standards

When an individual files for personal bankruptcy the trustee will calculate whether or not he will be required to make surplus income payments based on his net household income.

Read More
Budgeting 101 – Part 5 of 5

Catastrophic expenses are those expenses that you have no reasonable expectation of knowing that they are coming and they have a material and negative impact on your finances to the extent that you cannot recover from the impact and, in fact, may not even be able to deal with the expense in the first place.

Read More
December 2016 Personal Bankruptcy & Consumer Proposal Statistics

Bankruptcies were down 0.1% and consumer proposal filings were up 7.4% as compared to the 12-months ended December 31, 2015. Provincial breakdown...

Read More
November 2016 Personal Bankruptcy & Consumer Proposal Statistics

Personal Bankruptcies were up 1% and consumer proposal filings were up 8.4% as compared to the 12-months ended November 30 2015. Provincial breakdown...

Read More
Bankruptcy: My Name is Still On My Ex-Spouse’s Home

To get your name off of the mortgage, your ex-spouse will have to qualify for the mortgage, in his or her own name, when the mortgage comes up for renewal.   Whether or not they qualify is up to their financial institution.

Read More
What Are the Different Types of Bankruptcy Administrations?

Summary administration bankruptcy, there is no notice in the newspaper and no automatic meeting of creditors. Ordinary administration bankruptcy, there is a mandatory meeting of creditors and there is also a requirement for the Trustee to publish a notice of the bankruptcy in the newspaper.

Read More
Can I Go Bankrupt If My Debts Are The Result of Gambling?

For individuals who are problem gamblers we strongly recommend other counselling to help address the addiction.  Bankruptcy may provide short-term financial relief but cannot resolve the issue of gambling unless it is combined with other treatment.

Read More