Monthly Archives: June 2014

What are the Duties of a Trustee in Bankruptcy?
By Brian McIlmoyle, Trustee
27 Jun 2014 | Category: Bankruptcy FAQ | Leave a comment
role of bankruptcy trustee

Last week we posted about the duties of a bankrupt when declaring bankruptcy in Ontario. However it’s also important to understand the role and responsibilities of a bankruptcy trustee. You might even wonder why do I need to meet with a bankruptcy trustee to file a bankruptcy or a consumer proposal? The…

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What Are my Duties in an Ontario Bankruptcy?
By Wendy Young
20 Jun 2014 | Category: Bankruptcy FAQ | (4) comments
What are my duties in an Ontario bankruptcy

When an individual files an Ontario bankruptcy he is making a move that will relieve him of a considerable mental burden that has no doubt dragged at his spirit for an uncomfortable stretch. But he’s also signing himself up to honour certain obligations that constitute his side of the bargain. Personal…

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Can A Consumer Proposal Be Better For My Credit Rating?
By Joel Sandwith
13 Jun 2014 | Category: Consumer Proposal in Ontario | (8) comments
does a Consumer Proposal affect my credit rating?

One of the more pressing concerns that many of the people I meet with have is how their choices will affect their credit rating. Specifically, how does a Consumer Proposal affect a credit rating? What is a Credit Rating? First, let’s talk about what a credit rating is. Each ‘trade line’ (place…

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How Co-signed Debt is Treated When Claiming Bankruptcy
By Scott Schaefer, Trustee
06 Jun 2014 | Category: Debts In Bankruptcy | (24) comments
What happens if someone co-signed my loan

This is a very common question and causes significant concern when people have co-signed debts and are considering claiming bankruptcy in Ontario.  Normally, the co-signer is a family member or a close friend. The potential impact of the borrower deciding to file personal bankruptcy can put an added strain on…

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