Category Archives: Bankruptcy

The most commonly asked question of our trustees is what does is the bankruptcy cost for filing bankruptcy in Canada? The simple answer is that there are three parts to the overall bankruptcy cost that you should consider, and discuss with your trustee, before filing: Minimum contribution to cover administration… Read more

Bankruptcy is about allowing a person a fresh start from his or her debts. It’s a solution many take when there is no other reasonable hope of being able to pay back all of their debts.  There are many causes that lead people to filing bankruptcy – lost wages, emergency… Read more

Almost one third of all personal insolvencies are now filed by the baby boomer generation. This is a staggering statistic, and shows that not only have many seniors not saved for retirement, but in fact they will be carrying debt into retirement. While some of your expenses may decrease in… Read more

It doesn’t happen often, but people as young as 18 have had to file bankruptcy in Canada. On average, about 12% of all insolvencies (both bankruptcies and consumer proposals) are filed by people between the ages of 18 and 29. And the truth is, it doesn’t take much debt to tip… Read more

Every year more than 120,000 Canadians find themselves so deep in debt that filing insolvency becomes the only way to recover. It’s not the path of choice for anyone. No-one takes on debt assuming they won’t be able to repay what they owe. For most, it’s the combination of overwhelming… Read more

If you have filed for bankruptcy, then you are far from alone. Even though it can be very disheartening and stressful, it is by no means the end of the world, nor the end of your credit worthiness. If you plan carefully and learn to manage your money better, you… Read more

Is the recession over in Canada? Are Canadians, on average, in better financial shape than they were during the height of the collapse? A look at the personal bankruptcy statistics in Canada would seem to say so. The Office of the Superintendent of Bankruptcy recently reported that total bankruptcy and… Read more

Today’s tip: only co-sign for someone if you are absolutely positive that they will be able to repay the loan in full, on time.  If they don’t make the payments, you are liable for the entire unpaid amount owing on the debt. If it’s a small loan, or if you… Read more

One of the main purposes of filing for personal bankruptcy in Canada is to discharge your debts. To discharge your debts means to get rid of them, so that you are not required to pay those debts. However, there are certain types of debts that are not dischargeable in a… Read more

Are your struggling with debt? Are you having trouble paying your bills each month? If you are looking for debt relief but would like to avoid bankruptcy you do have options. While there is no easy quick fix, there are debt relief solutions that will work in your situation. Learn… Read more