Posts tagged bankruptcy nb
The New Debtor Prison

These tactics can leave a person feeling afraid to answer their own phone and for some it can cause undue stress and anxiety which can negatively affect their everyday life and ability to function at work.

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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...

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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...

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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.

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July 2016 Personal Bankruptcy & Consumer Proposal Statistics

New Brunswick - there were 2,843 personal bankruptcies and 1,455 consumer proposals filed in the 12-months ended July 31, 2016.  Personal bankruptcies were down 4% and consumer proposal filings were up 1.2% as compared to the 12-months ended July 31, 2015.

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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.

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What Is The New Brunswick Personal Property Security Act (PPSA)?

PPSA legislation provides a central registry for filing notices of security interests in personal property.  allows both individuals and institutions to record their financial interest in personal property (cars, boats, appliances, etc.).

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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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