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.
Tag: Consumer Proposal New Brunswick
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.
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.
October 2015 – Personal Bankruptcy & Consumer Proposal Statistics
Canada – Personal bankruptcies were down 2.7% and consumer proposal filings were up 8.8% as compared to the 12-months ended October 31, 2014.
New Brunswick – Personal bankruptcies were down 2.4% and consumer proposal filings were up 18% as compared to the 12-months ended October 31, 2014.
Understanding Consumer Proposals
A consumer proposal is a settlement arrangement with your unsecured creditors to pay a portion of your debt in monthly payment over a period of up to 5 years. These payments are the full and final settlement of your debts with these creditors.