Posts Tagged ‘assets’
9 Reasons to File a Consumer Proposal instead of Personal Bankruptcy
Filing a consumer proposal can have significant advantages compared to filing personal bankruptcy when you are feeling overwhelmed with debt.
Read MoreHow to Access Needed Money: Canada’s COVID-19 Economic Response Plan for Consumers
These are stressful times but no one should feel alone with these challenges.
Read MoreLicensed Pros Provide Options for Student Loan Debt
By consulting a Licensed Insolvency Trustee (“LIT”), you can receive advice about all of your student loan repayment options, not only the options offered by the National Student Loan Service Centre or your financial institution.
Read MoreWhat happens to a business when a shareholder goes bankrupt?
A shareholder’s personal bankruptcy or consumer proposal always creates questions and sometimes concerns for anyone who has an interest in the business. Here are a few answers.
Read More3 Questions Every Creditor Will Ask Themselves
If one or more of these scenarios apply, you may need to offer your creditors more than normal in order to convince them to say “yes”.
Read MoreWhat Happens To Life Insurance When I Declare Bankruptcy?
In evaluating your assets in a bankruptcy situation the Licensed Insolvency Trustee is determining if there is any equity or value in the asset that is potentially available to your creditors, subject to any exemptions under Provincial or Federal legislation for that type of asset.
Read MoreAre your finances getting off track and out of control?
The earlier you identify warning signs of financial challenges and recognize the driving factors, the easier it will be to address those factors and get back on track.
Read MoreA Gentler Method: Why a Negotiated Consumer Proposal Can Be A More Fair and Reasonable Debt Solution
If you have debt problems you also have options. A Consumer Proposal can be a much better and more manageable solution than bankruptcy to resolve your debts.
Read MoreReset and Restart: Personal Bankruptcy and the Relief from the Stress of Unmanageable Debt in Canada
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.
Read MoreThe End of a Business – Corporate Bankruptcy in Canada
Canadian Companies can face Corporate bankruptcy either voluntarily or involuntarily. Corporate bankruptcy will be the End of the Company’s Existence. Good to know! In exceptional circumstances, a bankrupt company could make a proposal in order to exit bankruptcy. Creditor approval is required for this to occur.
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