Becoming Bankrupt: Introduction Are you struggling with overwhelming debt and considering becoming bankrupt? If so, you are not alone. Many people and businesses continue to struggle from the COVID-19 pandemic and are only now hitting the wall. This Brandon’s Blog is a comprehensive guide exploring the intricacies of bankruptcy in Canada. I provide essential insights […]
Search: “consumer proposal”
We found 488 results for your search.
what does bankruptcy protection mean What does bankruptcy protection mean? Canada’s Bankruptcy & Insolvency Act What does bankruptcy protection mean? Bankruptcy protection is a legal status granted to individuals or businesses under Canada’s Bankruptcy and Insolvency Act (BIA). This protection shields debtors from creditor actions while working towards a fresh financial start, whether through bankruptcy […]
Collection Agency Lawsuit: Introduction As a licensed insolvency trustee, I’ve witnessed the serious effects that a debt collection agency or other creditor lawsuits can have on people and their families. The idea of being sued can feel incredibly daunting, especially when you learn from your lawyer that your chances of winning might not be great. […]
Bank ruptcy: Introduction I know it looks weird, but I have noticed through our software that people wanting to find out more about the Canadian bankruptcy process are searching for the two-syllable phrase “bank ruptcy“. I started to investigate this phenomenon. It turns out that individuals may often search for the term “bankruptcy” by entering […]
Canada trustee Canada Trustee Introduction As a Licensed Insolvency Trustee and Estate Trustee in Greater Toronto Ontario, Canada area, I have the honour of assisting individuals and families during some of the most challenging periods of their lives. Whether addressing personal bankruptcy, facilitating corporate restructuring, or managing the administration of a loved one’s estate, my […]
If You Declare Bankruptcy What Happens? Introduction to Financial Hardships In life, we often face unexpected challenges that test our resilience and determination. Such is the experience of people we help who have encountered financial hardships due to an unforeseen event outside of their control such as job loss. The burden of mounting debts and […]
Form 31 Proof of Claim Introduction The Office of the Superintendent of Bankruptcy (OSB) published several amended Forms under the Bankruptcy and Insolvency Act (Canada) (BIA) to promote a more efficient and effective insolvency system, removing some outdated elements and ensuring better data integrity for all stakeholders. These amended Forms were originally set to come […]
How to pay off credit card: Introduction to understanding the credit card debt crisis in Canada The financial services researchers at TransUnion Canada (TransUnion) have recently reported a concerning trend among Canadians. Many households struggle to keep up with the rising cost of living and higher interest rates, leading to a significant increase in credit […]
bankruptcy and cra debt Bankruptcy and CRA Debt Introduction Finance Minister and Deputy Prime Minister Chrystia Freeland introduced the 2024 Federal Budget on April 16. During her presentation in Parliament, she advised that Budget 2024 will include that any capital gain will be taxed from the current 50% to two-thirds. April 30 was the last […]
Definition of a Licensed Insolvency Trustee in Canada A Licensed Insolvency Trustee (previously called Trustees in Bankruptcy) in Canada plays a crucial role in helping individuals and businesses with debt problems. Navigating financial difficulties can be overwhelming, but understanding the role of a Licensed Insolvency Trustee can provide clarity and guidance. In this comprehensive guide, […]