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Most Recent ‘Q&A’ Posts

What are the Early Signs of Bankruptcy?

Bankruptcy is a challenging and stressful situation for anyone to experience. For Canadians, understanding the early warning signs of bankruptcy can help prevent financial disaster or better manage its impacts. This blog post will discuss the early signs of bankruptcy, including deteriorating cash flow, increasing debt load, poor credit score, legal actions and collections, over-reliance […]

Surplus Income Owing at the End of Bankruptcy

I am at the end of my bankruptcy and I’m being told I owe 5200.00 dollars and my husband owes 4200.00 because of surplus income owing. There was no talk of this now I’m slammed with this . Do I have any options?

Filing Bankruptcy While In Prison?

Can you file for bankruptcy while in prison? Can someone who is currently in jail declare bankruptcy? What do you need to do to go through with it?

Tuition paid after I filed for bankruptcy

If I filed for bankruptcy in 2019 and I lost any tuition carryforward due to bankruptcy. Am I still able to claim my tuition I paid in 2020 if I have not been discharged ? Or I do I lose it like I did the 2019 amounts?

Overpayment on Social Assistance

Due to a delay submitting my papers on an appeal due to a family member being sick and in hospital I was cut off my social assistance and they have given me an overpayment of $77000 to pay back but I will never be able to do this with what I make and trying to […]

Should I Switch Banks before I file Bankruptcy?

I recently read that it is advised that you close your present bank account and obtain a new account (with a bank you have never dealt with) before you actually declare bankruptcy.  I have no credit cards or a bad history with my present bank. Is this step really necessary?

How Often Can You File Bankruptcy?

Many of us have experienced financially challenging times – especially recently. In a typical year, over 100,000 Canadians file for bankruptcy or consumer proposal. Some of these consumers have been bankrupt before and this lends itself to three important questions:  Can you file for bankruptcy twice?How often can you file for bankruptcy in Canada? Is […]

Soon to Be Ex Headed towards Bankruptcy – How will it affect me?

Gambling, online shopping, dating, gaming… I could go on. He’s spending thousands he does not have. How will this affect equalization and funds held in trust from sale of matrimonial home? We are in year 3 of separation, nothing happening, several court dates. How do I protect myself & any monies owed to me in […]

Can Health Canada Freeze My Bank Account

Hi, I was stopped at the airport by Health Canada and I refuse their hotel and the test pcr, I took one just before my flight to Canada, so they gave me fines 5000.00 per day =15000.00 + 5000.00 for the pcr test + 5000.00 because I removed my mask 2 minutes to make a […]

How Will a Consumer Proposal Get You out of Bankruptcy?

How does a consumer proposal work? Well, it’s not hard, but you can’t do it alone, you need the help of a Licensed Insolvency Trustee. A Consumer Proposal keeps you out of bankruptcy by avoiding it altogether. The goal of a consumer proposal is to combine all your existing debt with different banks, creditors, or […]

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