Canada – Personal bankruptcies were up 0.5% and consumer proposal filings were up 8.7% as compared to the 12-months ended October 31, 2015. New Brunswick – Personal bankruptcies were down 1% and consumer proposal filings were up 1.3% as compared to the 12-months ended October 31, 2015.
Tag: bankruptcy pei
September 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were up 0.1% and consumer proposal filings were up 9.2% as compared to the 12-months ended September 30, 2015. New Brunswick – Personal bankruptcies were down 3.5% and consumer proposal filings were up 0.4% as compared to the 12-months ended September 30, 2015.
What Are the Different Types of Bankruptcy Administrations?
Summary administration bankruptcy, there is no notice in the newspaper and no automatic meeting of creditors. Ordinary administration bankruptcy, there is a mandatory meeting of creditors and there is also a requirement for the Trustee to publish a notice of the bankruptcy in the newspaper.
August 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – There was no increase in personal bankruptcies and consumer proposal filings were up 7.2% as compared to the 12-months ended August 31, 2015.
New Brunswick – Personal bankruptcies were down 2.9% and consumer proposal filings were up 1.7% as compared to the 12-months ended August 31, 2015.
July 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 0.4% and consumer proposal filings were up 7.8% as compared to the 12-months ended July 31, 2015.
New Brunswick – Personal bankruptcies were down 4% and consumer proposal filings were up 1.2% as compared to the 12-months ended July 31, 2015.
Can I Go Bankrupt If My Debts Are The Result of Gambling?
For individuals who are problem gamblers we strongly recommend other counselling to help address the addiction. Personal bankruptcy may provide short-term financial relief but cannot resolve the issue of gambling unless it is combined with other treatment.
Your Credit Report After a Bankruptcy or Consumer Proposal
Debts included in a bankruptcy should be rated as R-9 or I-9, indicating written-off, and the outstanding balance should be reported as zero. There should also be a note indicating “included in bankruptcy” below the trade line for the corresponding creditor. Debts included in a consumer proposal should be rated as R-7 or I-7 and the outstanding balance should also be reported as zero.
June 2016 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were up 0.2% and consumer proposal filings were up 9.4% as compared to the 12-months ended June 30, 2015.
New Brunswick – Personal bankruptcies were down 2% and consumer proposal filings were up 5.9% as compared to the 12-months ended June 30, 2015.
What Is The New Brunswick Personal Property Security Act (PPSA)?
PPSA legislation provides a central registry for filing notices of security interests in personal property, allows both individuals and institutions to record their financial interest in personal property (cars, boats, appliances, etc.). Bankruptcy eliminates all of your unsecured debt such as credit cards, bank loans, tax debts, unpaid bills and payday loans. However, secured debts such as vehicle loans, mortgages and home equity lines of credit are typically not included in a bankruptcy.
Why Would My Trustee Oppose My Bankruptcy Discharge
Your Trustee is required to oppose your discharge if you do not complete specific duties or tasks: complete both mandatory counselling sessions, report you monthly income to the Trustee, sessions, make all agreed upon payments, including voluntary, surplus income, and equity payments. These are only some of the duties that you must complete.