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Will The Bankruptcy Rate in Canada Plummet in 2010? A sign of economic recovery or something else completely?

January 11th, 2010 by A Licensed Insolvency Trustee

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 […]

The Price of Progress: New Bankruptcy Rules Hurt Some People They Were Designed to Help

November 30th, 2009 by A Licensed Insolvency Trustee

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 […]

Retirement, Pensions and Bankruptcy in Canada: The Future Is Up To You

October 26th, 2009 by A Licensed Insolvency Trustee

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 […]

The Insanity of the New Bankruptcy Rules in Canada

October 19th, 2009 by A Licensed Insolvency Trustee

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 […]

Finally some good news for Canadians facing Bankruptcy

September 28th, 2009 by A Licensed Insolvency Trustee

Apparently it is possible to “Fight City Hall”. Let me explain. Back on September 14, 2009, five days before the new bankruptcy rules came into force, I posted an article describing the Bad News and Good News from the new bankruptcy rules. One of my biggest complaints about the new rules was a new disclosure […]

The New Bankruptcy Rules: Some Predictions

September 21st, 2009 by A Licensed Insolvency Trustee

Since the federal government announced back on August 19 that new bankruptcy rules in Canada would come into force on September 18, 2009, I have posted three articles describing the new bankruptcy rules in Canada. For an overview of the new rules, please see the following articles: New Bankruptcy Rules in Canada: The Good News […]

New Bankruptcy Rules in Canada: The Bad News, and the Good News

September 14th, 2009 by A Licensed Insolvency Trustee

After waiting for four years, the new bankruptcy rules finally come into force on September 18, 2009. The new rules will have a significant impact on many Canadians in financial trouble. When the new rules were announced in August I posted a summary of what you need to know about the new bankruptcy rules in […]

Consumer Proposals Will Increase Under the New Bankruptcy Rules in Canada

September 6th, 2009 by A Licensed Insolvency Trustee

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 […]

Surplus Income: How the New Rules Could Extend the Cost of your Bankruptcy in Canada

August 24th, 2009 by A Licensed Insolvency Trustee

New bankruptcy rules will come into force in Canada on September 18, 2009. Last week I reviewed What You Need to Know About the New Bankruptcy Rules in Canada. Today I’d like to comment on the most radical change: how your income will impact on the length of your bankruptcy in Canada. When you go […]

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