Yearly Archives: 2015

What Duties Will I Have During A Consumer Proposal?
By Rebecca Martyn, Trustee
10 Apr 2015 | Category: Consumer Proposal in Ontario | Leave a comment
Consumer-proposals-duties.

Once your consumer proposal has been filed there are certain duties that you have to perform to ensure that it will be successfully completed. Your trustee will guide you through the process, but knowing your responsibilities can make the journey much easier. Make your payments according to the terms of your consumer…

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Does A Consumer Proposal Settle All My Debts?
By Ian Martin, CA, Trustee
27 Mar 2015 | Category: Consumer Proposal in Ontario | (6) comments
consumer-proposals

For many people, a consumer proposal is an effective option for settling debts when you are simply unable to repay everything in full. Consumer proposals have grown significantly in popularity in recent years as more people become aware of consumer proposals as a viable alternative to bankruptcy in Canada.  Even…

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Can Declaring Bankruptcy Repair My Credit Score?
By Sandra Sykora, Trustee
13 Mar 2015 | Category: Bankruptcy FAQ | Leave a comment
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Yes it can!  Once you have completed all of your bankruptcy duties you will be discharged or relieved from your debts and can start to rebuild your credit.  As you rebuild, your credit score will improve and that fresh start that you were seeking can begin. During a bankruptcy your credit…

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How Is Student Debt Affected During Bankruptcy?
By Scott Schaefer, Trustee
27 Feb 2015 | Category: Debts In Bankruptcy | Leave a comment
Student-loans-bankruptcy

You accumulated significant debt while attending college or university with the full expectation that you would be able to repay that debt. Now you are struggling to keep up with your payments. Filing bankruptcy or a consumer proposal may be an option, however, there are some things you need to know…

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Will Bankruptcy Eliminate My Payday Loans?
By Rebecca Martyn, Trustee
13 Feb 2015 | Category: Debts In Bankruptcy | Leave a comment
payday loans bankruptcy

A study completed by Hoyes, Michalos last year indicated that 1 in 8 people who have filed for bankruptcy or consumer proposal had at least one payday loan. From the files we reviewed, if someone owed money to payday loans, they didn’t owe just one company, but had an average…

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How Severance Pay Might Affect Your Surplus Income
By Joel Sandwith
16 Jan 2015 | Category: Bankruptcy in Ontario | Leave a comment
severance pay bankruptcy

It’s possible that you may lose your job during bankruptcy and may become entitled to some form of severance pay. If you have been working for the company for many years, this amount can be substantial. Since severance pay is a form of income, it can affect your bankruptcy payments and…

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