fbpx Skip to Content

Bankruptcy-canada.ca: Learn

Most Recent ‘Learn’ Posts

what's the difference between bankruptcy vs insolvency
what's the difference between bankruptcy vs insolvency

The difference between insolvency and bankruptcy in Canada is insolvency is a financial state in which a person is unable to make timely debt payments as they come due. Bankruptcy is a legal process that occurs when an individual declares that he or she is unable to repay their creditors. In other words… The difference between bankruptcy vs insolvency is that bankruptcy is a possible solution for not having enough money to pay your debts, and insolvency is the condition of not having enough money to make your debt payments as […]

  • Posted in Learn
  • Comments Off on What’s the Difference Between Bankruptcy vs Insolvency In Canada?

If you are a Canadian under the age of 50, you were not yet an adult the last time mortgage lending rates in Canada sat at over 10%. In 1981, the Bank of Canada’s overnight interest rate spiked to an astonishing and alarming 19.64% – which meant that lending rates for mortgages and credit cards […]

  • Posted in Learn
  • Comments Off on Interest Rates Are Rising: How To Manage Them & Your Debt

Yes, gambling debts can be discharged with bankruptcy. Overwhelming gambling debt is among the most common reasons for bankruptcy, job loss, unexpected expenses, and the demands of raising a family. Bankruptcy is an insolvency solution. Insolvency is the inability to meet your financial obligations (pay your bills) on time because you lack the funds. Gambling […]

  • Posted in Learn
  • Comments Off on Can Gambling Debts Be Discharged with Bankruptcy?

Although it’s not common, one of the things that can cause people to file bankruptcy or a consumer proposal is if they’ve been the victim of credit card fraud.  Here are some things you can do to protect yourself. One of the most common ways that people fall victim to credit card fraud is simply […]

Looking to claim bankruptcy. However, I am now unemployed with no income coming in. My spouse is supporting the household. Is his income considered my income if I file? The debt is all my own, none of it is joint with my spouse. However, the amount is less than ten thousand – is there a […]

Effect of consumer proposals on families
Effect of consumer proposals on families

Families, like individuals and couples, have a wide range of expenses that draw on their financial resources. But for families with children, expenses are often larger and more varied than anticipated. Kids Can Be Expensive! Children are the proverbial “wild cards” when it comes to family spending. Parents are motivated to provide well for their […]

Tax debt - options
Tax debt - options

For individuals carrying substantial consumer debt, income tax season can be a blessing or a nightmare. Of course, it all depends on whether you are expecting a refund or a bill. I am self employed, and I experienced financial distress in 2009 and eventually filed a Consumer Proposal. Looking back, there were warning signs that […]

Looking up debt help
Looking up debt help

Andy and Cynthia are a smart young couple, but they’ve gotten into trouble with consumer credit. Like most people, they certainly didn’t see money troubles around the corner when they started their small business. They were filled with optimism! And, things went well for a couple of years. Sales were actually better than they had […]

I have no income. I have no money in the bank. My home is in foreclosure. My wife is divorcing me. I have no choice but to declare bankruptcy. What does it cost to file?

Bankruptcy and Proposal - An Easy Way Out?
Bankruptcy and Proposal - An Easy Way Out?

Are you reading this article because you’re seeking a solution to your financial difficulties? Gathering information on Bankruptcy or Consumer Proposal? Then you already know something that few people without financial problems realize – these solutions are not “the easy way out”. It’s not that Bankruptcy and Consumer Proposal are terribly difficult (in fact, most […]

Back to top
Navigation