Posts tagged bankruptcy dartmouth
Advantages of Filing a Consumer Proposal vs. a Bankruptcy
How Will A Consumer Proposal or Bankruptcy Affect My Credit Rating?

The proposal stays on your credit file for 3 years from the date of completion. A first bankruptcy will stay on your credit report for a period of 6-7 years (depending on Province) from the date of discharge. A second bankruptcy will be reflected on the debtor’s credit report for a period of 14 years from the date of discharge.

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Tackling Your Finances Head On

Hiding from the reality of your financial situation will do nothing to improve it. People have a pre-disposition to hide from the truth, particularly when the truth is ugly. Unfortunately, we see this every day.

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Announcement - New Designation for Insolvency Professionals

On December 2, 2015, the Office of the Superintendent of Bankruptcy Canada released Directive 33, Trustee Designation and Advertising, updating the designation to be used by Licensed Trustees with regards to the advertisement, promotion, and communications related to their services.  All trustees holding a valid license will now adopt the professional designation “Licensed Insolvency Trustee”, which replaces the previous designation of “Licensed Trustee in Bankruptcy”.

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October 2015 Personal Bankruptcy & Consumer Proposal Statistics

New Brunswick - there were 2,884 personal bankruptcies and 1,488 consumer proposals filed in the 12-months ended October 31, 2015.  Personal Bankruptcies were down 2.4% and consumer proposal filings were up 18% as compared to the 12-months ended October 31, 2014.

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