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Posts Tagged ‘Consumer Proposal’

In a press release dated February 16, 2010, the government of Canada announced new rules for mortgage funding: The Honourable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada’s housing market and continue to encourage home ownership for Canadians. “Canada’s housing market is healthy, stable […]

Debt consultants and for profit credit counsellors have become very aggressive over the last few years. In some cases they may be able to help you get out of debt, but in most cases they can’t do anything for you that you can’t do for yourself. Here’s how they work: They run big advertisements in […]

In the 2010 Super Bowl, the Indianapolis Colts played not to lose. They didn’t take any unnecessary chances. In contrast, the New Orleans Saints played to win. In the first half, with two yards to go on fourth down, they tried to score, and were stopped, turning the ball over to the Colts. At the […]

As readers of this weekly Trustees Talk feature are well aware, in September of 2009 the federal government decided to implement changes that had been approved by Parliament (quite literally years ago) that had the affect of increasing the length and cost of filing bankruptcy in Canada. One of the effects of these changes was […]

The media has recently carried stories that that the Consumer Bankruptcy Rate in Canada is Starting to Ease, which sounds like good news. In October, 2009, bankruptcy filings across Canada fell a whopping 27.7 percent in October when compared to the previous month, which is the largest monthly drop on record. This figure softens when […]

One of the longstanding and fundamental purposes of the Bankruptcy and Insolvency Act of Canada has been to allow honest but unfortunate debtors to deal with unmanageable debt so that they can make a fresh start and resume their places in the community. For those of you who are unaware, September 18, 2009 was a […]

There were three interesting stories in the press this week about pensions and bankruptcy in Canada. On Wednesday the CBC ran a story on how the Liberals vow to change bankruptcy laws. Here’s a quote from the story: The Liberal Party says it is committed to changing Canadian bankruptcy laws so former employees of failed […]

On September 18, 2009 the government of Canada brought into force all of the remaining amendments to the Bankruptcy and Insolvency Act that were approved by Parliament back in 2005 and 2007.  At the time they were approved, the economy was booming and bankruptcy filings by individuals were stable.  One of the goals of the […]

Thanksgiving Day in Canada

October 12th, 2009 by A Licensed Insolvency Trustee

Today is Thanksgiving Day in Canada, and there are many stories in the media about how we should all give thanks. I agree. We are lucky to live in Canada. But what does Thanksgiving have to do with bankruptcy in Canada? I have written a number of articles over the last two months criticizing some […]

Here’s a prediction: the new bankruptcy rules that will come into force in Canada on September 18, 2009 will lead to a significant increase in the number of consumer proposals filed by Canadians. If you are in financial trouble, you have a number of options, including repaying your debt on your own, getting a debt […]

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