Until January 2014, any debts owing to 407 ETR could result in a license plate denial – even if you filed for bankruptcy. Generally, the federal law states that debts that existed prior to an assignment in bankruptcy are erased after your discharge from bankruptcy. This “fresh start” principle allows an insolvent person to get back on their feet and move forward without the [...]
I’m sure you’ve heard the radio ads – how a government approved debt settlement company can settle and/or reduce your debts. This is very powerful messaging if you happen to hit on some hard times. But when something sounds too good to be true, it’s usually not what it claims to be. For some time now these companies have convinced consumers with ambitious plans, [...]
Amendments to the Bankruptcy and Insolvency Act Effective September 18, 2009, significant changes were made to the Bankruptcy and Insolvency Act to streamline procedures and to ensure consistency amongst Trustees. One of these changes is in relation to surplus income payments. The legislative changes now require that if your income exceeds a base amount set by the Superintendent of bankruptcy, you will be required to [...]
