The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
Tag: consumer proposal nb
Licensed Pros Provide Options for Student Loan Debt
By consulting a Licensed Insolvency Trustee (“LIT”), you can receive advice about all of your student loan repayment options, not only the options offered by the National Student Loan Service Centre or your financial institution.
When Small Business Owners Run Into Financial Trouble, What They Need is Help
We believe that entrepreneurs should be encouraged and supported, particularly when they run into financial difficulty.
2019 Surplus Income Standards
The Government of Canada has set net monthly income thresholds for a person or family to maintain a minimal standard of living in Canada. Every dollar that a bankrupt family makes above this level is subject to a surplus income payment of 50% while a person remains bankrupt.
What happens to a business when a shareholder goes bankrupt?
A shareholder’s personal bankruptcy or consumer proposal always creates questions and sometimes concerns for anyone who has an interest in the business. Here are a few answers.
Buying vs. Leasing a New Vehicle – Part Two – The Risks and Benefits of Leasing
Remember, leasing is like renting so there are usage limits. This isn’t actually your vehicle.
Buying vs. Leasing a New Vehicle – Part One – 3 Important Points to Remember
Figuring out how to pay for this expensive infrastructure is something most of us have to consider.
3 Questions Every Creditor Will Ask Themselves
If one or more of these scenarios apply, you may need to offer your creditors more than normal in order to convince them to say “yes”.
What Happens To Life Insurance When I Declare Bankruptcy?
In evaluating your assets in a bankruptcy situation the Licensed Insolvency Trustee is determining if there is any equity or value in the asset that is potentially available to your creditors, subject to any exemptions under Provincial or Federal legislation for that type of asset.
December 2017 – Personal Bankruptcy & Consumer Proposal Statistics
December 2017 – Consumer credit issues continue to exist in Canada, although personal bankruptcy filings are continuing to fall the volume of consumer proposal filings are still increasing.