Monthly Archives: February 2014

How Much Will Your Creditors Accept in a Consumer Proposal?
By Howard Hayes, Bankruptcy Trustee
28 Feb 2014 | Category: Consumer Proposal in Ontario | Leave a comment
creditors accept in a consumer proposal

The concept of filing a consumer proposal is that you’re asking your creditors to reduce the size of the debt you have with them and allow you time to pay back what you can reasonably afford to pay back. How much will your consumer proposal payments be? As a general…

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How Do You Calculate Payments in a Bankruptcy?
By Angela Marquis
21 Feb 2014 | Category: Bankruptcy in Ontario | Leave a comment

Many are surprised to hear that there is a cost to go bankrupt and that that is different for each person. Your trustee must consider your monthly household income, expenses, family size and assets when explaining to you what the financial implications of filing bankruptcy will be. There are three different…

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Can Both Spouses File a Joint Bankruptcy?
By Joel Sandwith
14 Feb 2014 | Category: Bankruptcy in Ontario | Bankruptcy FAQ | (2) comments
joint bankruptcy spouse

Debts in a marriage can be incurred separately or they can be considered joint debts. Depending on the unique family circumstances it may be necessary for one, or both spouses, to file for bankruptcy in order to eliminate their individual obligations to repay these debts. A joint bankruptcy happens when…

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