'Bankruptcy' Content, Authors and Blogs

Read informative articles, and blog posts related to "Bankruptcy".

Who is a Typical Debtor?

Who is a Typical Debtor?

A typical debtor is a person who is unable to repay their creditors in a timely fashion.

Frequently Asked Questions on Consumer Proposals

Frequently Asked Questions on Consumer Proposals

A consumer proposal is an offer to your creditors to settle debt with your creditors without any further interest and often at a significantly reduced amount.

Why you should consult a Licensed Insolvency Trustee

Why you should consult a Licensed Insolvency Trustee

LITs are the only professionals able to administer the options legislated by the Bankruptcy and Insolvency Act which include Bankruptcy and Consumer Proposals.

Rising Interest Rates and the Impact on Canadian Debt

Rising Interest Rates and the Impact on Canadian Debt

The Bank of Canada has been increasing interest rates since March of 2022, which is causing financial institutions to increase their prime rate of interest.

Do The Pros Outweigh The Cons Of Being Bankrupt?

Do The Pros Outweigh The Cons Of Being Bankrupt?

Bankruptcy is a legal proceeding that aims to give people a fresh start who cannot repay all their debts by liquidating their assets.

Tips to Tighten your Budget without really feeling it

Tips to Tighten your Budget without really feeling it

Most people don’t think about all the small monthly bills in their life, but they add up! Spending time reviewing your bills could easily save hundreds a year!

What is a Licensed Insolvency Trustee?

What is a Licensed Insolvency Trustee?

Licensed Insolvency Trustees are government-regulated professionals authorized to administer federally regulated debt relief options.

CERB Repayment Update - What if you cannot pay it back?

CERB Repayment Update - What if you cannot pay it back?

Did you receive the Canada Emergency Relief Benefit (CERB) and are now receiving a collection letter from the Canada Revenue Agency (CRA) to collect?

What happens if I win the lottery while under Bankruptcy?

What happens if I win the lottery while under Bankruptcy?

Many people assume that winning the lottery or receiving an inheritance would be outside the scope of the bankruptcy proceedings, but this is not the case.

Does bankruptcy affect my employment prospects?

Does bankruptcy affect my employment prospects?

A common question people have is whether or not filing for bankruptcy will affect their ability to get a job.