All of the following are true (not false)! 1//You normally will NOT lose your house and you will NOT lose your car- if the following applies: – real property is usually mortgaged which means that you must continue to make the mortgage payments to keep your home- an arrangement between you and the lender- if there is…
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Here are some common beliefs about tax debt and what the real story is: COMMON BELIEF: Bankruptcy law in Canada does not cover personal income tax- it can’t be “included.” CLARIFICATION: Personal income tax debt (the one we are most familiar with!) is typically an unsecured debt in a proposal or a bankruptcy and has…
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One of the prime objectives of the Bankruptcy and Insolvency Act is to enable an honest but unfortunate debtor to obtain a discharge from his debts, subject to reasonable conditions, so that the debtor can make a fresh start. There are several types of discharges available to debtors, depending on each individual’s circumstances, and…
Read MoreWhen we counsel individuals or businesses with financial problems, we review and analyze their information and provide them with an assessment and options to help them make an informed decision about what to do next. Rarely does anyone want to believe that bankruptcy is the solution to a debt problem and, in many cases this…
Read MoreWe are currently coming with a template to help explain how to handle collection calls either before you come to see us or after you have filed a consumer proposal or bankruptcy so that you say the correct and most effective things to collection agents calling for money you likely do not have readily available (…
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