Thursday, October 13, 2016
For many Canadians the idea of filing for personal bankruptcy is very foreign. Not knowing how the process will affect your day-to-day life and employment is just one of the many reasons that the term "bankruptcy" can be so intimidating. Thankfully, the Bankruptcy and Insolvency Act rules were...
Thursday, December 3, 2015
On December 2, 2015 the Office of the Superintendent of Bankruptcy made a big announcement; there will be formal change to the designation of insolvency professionals nationwide.  As of April 1, 2016 the designation of “Licensed Insolvency Trustee” will be replaced with “Licensed Insolvency...
Monday, November 23, 2015
Each spring, Canadians are required to file their Income Tax and Benefit return and, as a result, receive their Notice of Assessment shortly after. While some people will be receiving a refund, others will be faced with a balance owing to the Canada Revenue Agency (CRA). Most Canadians file their...
Wednesday, July 8, 2015
What is Surplus Income? Surplus Income is perhaps a poorly worded phrase. Not many people would feel that they have surplus income especially when dealing with debt. However, in the bankruptcy context, surplus income refers to a calculation that determines how much money per month a person should...
Monday, June 29, 2015
What is a consumer proposal? A consumer proposal is a debt management solution that allows you to settle debts for less than what is actually owed, while still avoiding bankruptcy.  With the help of a licensed trustee you can file a consumer proposal to your creditors to pay a portion of your...