2019 Bankruptcy Surplus Income Limits

2019 Bankruptcy Surplus Income Limits

In Canada, part of the bankruptcy process is making payments to creditors for the duration of your bankruptcy. Given the financial turmoil of individuals going through a bankruptcy, the Canadian government has set payment regulations for bankrupt individuals, otherwise known as surplus income limits. Surplus income limits take into account… Read More


What Can’t Be Included When You File For Bankruptcy?

What Can’t Be Included When You File For Bankruptcy?

Many Canadians across the country struggle with debts of all kinds. Some people can manage the small amounts of debt they have, while others accumulate so much that they simply can’t deal with it. Thankfully, Canada is home to many different debt relief… Read More


Will I Have to Make Surplus Income Payments if I go Bankrupt?

Will I Have to Make Surplus Income Payments if I go Bankrupt?

During your bankruptcy process you may be required to pay surplus income payments. These payments are meant to ensure that creditors get as much of their money back as possible, without harming the standard of living of the person who is bankrupt. Surplus income payments are completely dependent on your… Read More


What is a Bankruptcy Score?

What is a Bankruptcy Score?

While lenders are always interested in lending money and finding new clients to lend to, they are also always looking to reduce the risk associated with lending. Credit scores are one of the most used and most convenient ways to assess this risk. There are of course many other ways… Read More


What Causes Bankruptcy?

What Causes Bankruptcy?

While bankruptcy can help you get out of a seriously bad financial situation, it isn’t cheap and it will ruin your credit for up to 7 years. These two consequences are the main reasons why the average Canadian wants to avoid filing for bankruptcy. And we don’t blame them,… Read More


Avoiding Bankruptcy

Avoiding Bankruptcy

Credit is a serious necessity in today’s world, which means the majority of people have at least one form of credit, if not several. But with the influx of credit comes the influx of debt. Generally speaking credit creates debt and while some people are able to use their credit… Read More


5 Steps to Take after Bankruptcy

5 Steps to Take after Bankruptcy

Sometimes filing for bankruptcy is a choice that needs to be made, it’s a difficult decision but in the end those who work hard and do what needs to be done will benefit. Once you’ve filed all the necessary papers and taken all the necessary steps and received your… Read More


What Happens when your Co-signer Declares Bankruptcy?

What Happens when your Co-signer Declares Bankruptcy?

If your credit isn’t so great or if you don’t have credit at all getting a co-signed loan is one of the best ways for you to start building your credit and borrow the money you need. A co-signed loan opens up so many doors that were closed to… Read More


The Perils of Filing for Bankruptcy

The Perils of Filing for Bankruptcy

If a bankruptcy is completed properly and is in fact successful then the benefits are great and they can be achieved through no other method. But, like any other financial risk, bankruptcy is not without peril and once you make the decision you cannot take it back. It’s important… Read More


Note:

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