Posts Tagged ‘credit’
2019 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
Read MoreFebruary 2019 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.7% and consumer proposal filings were up 14.3% as compared to the 12-months ended February 28, 2018. New Brunswick – Personal bankruptcies were up 22.8% and consumer proposal filings were up 23.5% as compared to the 12-months ended February 28, 2018.
Read MoreJanuary 2019 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 4.5% and consumer proposal filings were up 9.4% as compared to the 12-months ended January 31, 2018. New Brunswick – Personal bankruptcies were down 6.7% and consumer proposal filings were up 18.9% as compared to the 12-months ended January 31, 2018.
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 MoreBuying vs. Leasing a New Vehicle – Part Two – The Risks and Benefits of Leasing
Remember, leasing is like renting so there are usage limits. This isn’t actually your vehicle.
Read MoreBuying vs. Leasing a New Vehicle – Part One – 3 Important Points to Remember
Figuring out how to pay for this expensive infrastructure is something most of us have to consider.
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 MoreWhat Happens to Student Loans in Bankruptcy?
If you have been a full- or part-time student in the seven years prior to your bankruptcy or consumer proposal, you will not be discharged from a student loan and payments will resume as soon as you are done.
Read MoreA Little Extra Time for Self-Employed People to File
Even if you cannot pay your full balance owing on or before April 30, 2018, you can avoid the late-filing penalty by filing your return on time; by June 15, 2018.
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