What to do when you receive a collection notice from the Canada Revenue Agency (“CRA”)
Amounts owing to the CRA for personal income tax and HST sometimes get pushed aside to concentrate [...]
Can you go bankrupt more than once?
The Bankruptcy and Insolvency Act (“BIA”) is the federal legislation that governs insolvency filings in Canada. There [...]
Can I file for bankruptcy if I am current on my debt payments?
To the surprise of many, it is not a requirement for you to be in arrears on [...]
Income Tax Debt and Insolvency
Based on the number of inquiries I have received recently, the Canada Revenue Agency (“CRA”) is getting [...]
Virtual versus In-Person Bankruptcy Consultation
Pre-pandemic Consultations Pre-pandemic, a Licensed Insolvency Trustee (“LIT”) was required to see all debtors in person prior [...]
Why it’s important to be discharged from a bankruptcy
Filing an assignment in bankruptcy legally stays (stops) your unsecured creditors from pursuing you for collection until [...]
What happens to debts that have been co-signed in a bankruptcy or proposal?
The purpose of filing an assignment in bankruptcy or consumer proposal is to provide you relief [...]
Check Your Credit Report with These Credit Reporting Agencies in Ontario
It is recommended that you check your credit report at least once a year for accuracy and [...]
What is the First Step to Filing a Bankruptcy or Consumer Proposal?
If you have finally taken the very difficult step of acknowledging that you cannot handle your debt [...]
What happens if I can no longer continue my business due to overwhelming debt?
The Office of the Superintendent of Bankruptcy reported a 58.3% increase in Canadian business insolvency filings in [...]
