Posts Tagged ‘credit’
My Spouse filed bankruptcy, do I need too?
No, if one spouse files personal bankruptcy or a consumer proposal, it may not be necessary for the other spouse to file. This depends on several facts which a Licensed Insolvency Trustee will assist the couple to review. The couple can then make an informed decision as to which option best meets their needs and allows them to achieve their financial goals.
Read More2016 New Brunswick Home Energy Assistance Program (HEAP)
The New Brunswick government is offering a one-time benefit of $100 to help low-income families with their home energy bills. The government has had similar programs in the past to help families offset some of the cost of heating their residence.
Read MoreUnderstanding Consumer Proposals
A consumer proposal is a settlement arrangement with your unsecured creditors to pay a portion of your debt in monthly payment over a period of up to 5 years. These payments are the full and final settlement of your debts with these creditors.
Read MoreBankruptcy And Sponsoring a Relative’s Application For Immigration
According to Immigration Canada, you can sponsor a relative’s immigration application as long as you are a citizen or permanent resident of Canada and are 18 years of age or older. There are however some restrictions, one of which states that you can not be an undischarged bankrupt.
Read MoreDo I Have To Continue Paying Student Loans During My Bankruptcy or Consumer Proposal?
Even though your student loan debt may not be discharged as part of your personal bankruptcy or consumer proposal, the creditor is still prohibited from normal collection activities during your personal bankruptcy or consumer proposal. We recommend paying the interest portion of the payment during your personal bankruptcy or consumer proposal.
Read MoreCan I Apply For Credit While Bankrupt?
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.
Read MoreWhat Assets Can PEI Residents Keep In Bankruptcy?
What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
Read MoreWhat Assets Can Nova Scotia Residents Keep In Bankruptcy?
What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
Read MoreWhat Assets Can New Brunswick Residents Keep In Bankruptcy?
What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
Read MoreConsumer Proposal vs. Credit Counselling?
With all of the choices facing financially distressed consumers, it’s important to compare your options. The most common options are a Consumer Proposal only available through a Licensed Insolvency Trustee or a Debt Management/Repayment Plan offered by credit counselling agencies.
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