Personal Bankruptcy 2 - Consumer Proposal & Bankruptcy

Reset and Restart: Personal Bankruptcy and the Relief from the Stress of Unmanageable Debt in Canada

December 14, 2017

Personal Bankruptcy is the last choice for most individuals but it is good that this process is available because, without it, there might be no relief from the stress of unmanageable debt.

Can I Apply For Credit While Bankrupt?

November 24, 2015

Filing for personal bankruptcy does not prevent you from applying for credit however as a bankrupt person you have a duty not to engage in any business transactions, or obtain credit of more than $1,000, without disclosing to the lender that you are an undischarged bankrupt.

Using Your Credit Cards Prior To Bankruptcy or Proposal

April 28, 2015

Borrowing money with the intent of not paying it back may be considered fraud which is a criminal offence. Debts from fraudulent activities are not dischargeable in a personal bankruptcy or a consumer proposal. If you are having a difficult time paying your debts, we recommend that you cease using your credit cards and contact a Licensed Insolvency Trustee to review your situation and discuss your options.