Tag Archives: discharge

Why You Should Keep Your Bankruptcy Discharge Papers
By Angela Marquis
22 May 2015 | Category: Bankruptcy FAQ | (2) comments
Bankruptcy discharge documents

Once you have completed all of your bankruptcy duties, you receive a discharge certificate that officially releases you from the debts included in your bankruptcy.  You will also receive a final receipts and disbursement summary to disclose whether any dividends were available to be paid out during your bankruptcy, that shows…

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5 Benefits To Filing Bankruptcy: Do They Apply To You?
By Scott Schaefer, Trustee
24 Apr 2015 | Category: Bankruptcy in Ontario | (3) comments
personal-bankruptcy-debt

Money problems happen to many different people for many different reasons.  Too often, debt becomes a cycle and the pressure of paying off all of the debt becomes too much to handle alone.  If you find yourself in the same situation, here are the top five benefits to filing personal…

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Can Declaring Bankruptcy Repair My Credit Score?
By Sandra Sykora, Trustee
13 Mar 2015 | Category: Bankruptcy FAQ | Leave a comment
Credit-Report-Credit-Score-Bankruptcy

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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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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Can a Bankruptcy Trustee Oppose my Discharge?
By Howard Hayes, Bankruptcy Trustee
24 Oct 2014 | Category: Bankruptcy FAQ | (2) comments

Yes, it is possible for a bankruptcy trustee to oppose your bankruptcy discharge. Your discharge could also be opposed by either a creditor or the Superintendent of Bankruptcy. Most oppositions to a bankruptcy discharge in Ontario happen because the bankrupt did not complete their required duties. In fact, the trustee has…

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How Will I Know Which Debts Were Discharged by my Bankruptcy?
By Billy Martell, Bankruptcy Trustee
18 Apr 2014 | Category: Debts In Bankruptcy | Leave a comment
debts eliminated in Ontario bankruptcy

If you are a first-time bankrupt, you will receive an automatic discharge nine months plus a day after your date of filing, assuming you owe no surplus income. During your bankruptcy you make payments to your trustee and may surrender some assets. The benefit to you is that your debts…

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How Many Times can I Declare Personal Bankruptcy in Ontario?
By Wendy Young
04 Apr 2014 | Category: Bankruptcy in Ontario | Bankruptcy FAQ | (2) comments
affects declaring bankruptcy multiple times in ontario

While there is no provincial law that lays down how many times an individual might declare bankruptcy in Ontario, it’s important to note the repercussions with each subsequent filing. It Takes Longer and Costs More Where a so-called “second-timer” used to have his discharge granted by the courts, one must…

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Should You Feel Guilty About Filing Bankruptcy?
By Joel Sandwith
28 Mar 2014 | Category: Bankruptcy in Ontario | Leave a comment
Guilty About Filing Bankruptcy

When I started my career in helping people with debt, my first role was as a credit counsellor. I’m now a licenced Bankruptcy Trustee with Hoyes, Michalos and Associates and have been here for about five years. One thing that has remained the same for me this entire time is…

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What if you Forget A Creditor on your Bankruptcy Application?
By Rebecca Martyn, Trustee
17 Jan 2014 | Category: Bankruptcy in Ontario | Leave a comment
forgot creditor in bankruptcy

When you file for bankruptcy, you need to tell your Trustee who your creditors are and how much you owe. Your Trustee then informs all of your creditors about your bankruptcy.  Filing for bankruptcy can be a stressful time, but it’s important to try and remember everyone you owe money…

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