What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
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June 2015 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.3% and consumer proposal filings were up 9.2% as compared to the 12-months ended June 30, 2014.
New Brunswick – Personal bankruptcies were up 0.4% and consumer proposal filings were up 10.3% as compared to the 12-months ended June 30, 2014.
What Assets Can Nova Scotia Residents Keep In Bankruptcy?
What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
May 2015 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5.3% and consumer proposal filings were up 9.2% as compared to the 12-months ended May 31, 2014.
New Brunswick – Personal bankruptcies were up 0.4% and consumer proposal filings were up 10.3% as compared to the 12-months ended May 31, 2014.
What Assets Can New Brunswick Residents Keep In Bankruptcy?
What asset can I keep? A Licensed Insolvency Trustee can help you identify which assets you can keep. There is a specific list of assets that you are allowed to keep when you file personal bankruptcy or consumer proposal. This list of assets is specific to the province in which you live.
April 2015 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 5% and consumer proposal filings were up 9% as compared to the 12-months ended April 30, 2014.
New Brunswick – Personal bankruptcies were up 2.2% and consumer proposal filings were up 8.6% as compared to the 12-months ended April 30, 2014.
Consumer Proposal vs. Credit Counselling?
With all of the choices facing financially distressed consumers, it’s important to compare your options. The most common options are a Consumer Proposal only available through a Licensed Insolvency Trustee or a Debt Management/Repayment Plan offered by credit counselling agencies.
How Are Secured Debts Treated In Personal Bankruptcy or a Consumer Proposal?
When an individual files personal bankruptcy or a consumer proposal these loans are not always impacted and the assets can usually be kept as long as the loan payments are current and continue to be made in accordance with the credit agreement.
Planning a Debt Free Summer Vacation
If you did not start saving soon enough and don’t have enough money, then you may want to consider delaying your trip to the following year. Your vacation will be much more enjoyable if you know that it is paid for in advance.
Can I Declare Bankruptcy If I Live Outside of The Country?
Generally speaking, under the Bankruptcy & Insolvency Act, if you reside outside of the country you can still declare bankruptcy as long as you meet certain criteria. If you are a previous Canadian resident and are have debt issues you should contact Powell Associates Ltd. to determine if you meet the criteria to file personal bankruptcy or a consumer proposal in Canada.