Yes, you can declare personal bankruptcy a second time, as long as you have been discharged from your first bankruptcy. If you don’t have surplus income, comply with your duties and cooperate with your trustee on other estate matters. You are eligible to be discharged from your second bankruptcy, after 24 months.
Tag: Consumer Proposal
Dealing With Debts in Collection
Besides all of the harassing phone calls and intimidating letters, these collection accounts have a negative impact on your credit score and your ability to access credit or to own a home.
How to Create a Budget in 5 Steps
We all know the importance of living within our means but according to recent statistics, less than 50% of Canadians use a monthly budget to plan their spending. When putting together a budget plan the key is not to make it complicated or difficult to follow.
September 2014 Bankruptcy & Consumer Proposal Statistics
Personal bankruptcies were down 5.8% and consumer proposal filings were up 6.7% as compared to the 12-months ended September 30, 2013.
Do I Qualify For Bankruptcy?
Basically, if you owe at least $1,000, are unable to keep up with your monthly debt payments and do not have assets such as vehicles, house, or investments that you can sell to pay your debts in full, then you can choose to file personal bankruptcy. It is your choice whether or not to voluntarily put yourself into bankruptcy and no one can stop you.
August 2014 – Personal Bankruptcy & Consumer Proposal Statistics
Personal bankruptcies were down 5.5% and consumer proposal filings were up 7.3% as compared to the 12-months ended August 31, 2013.
Annual Consumer Insolvency Rates – Canada vs. Maritime Provinces
Annual Consumer Insolvency Rates – Canada vs. Maritime Provinces On September 30, 2014, the Office of the Superintendent of Bankruptcy released its most recent statistics on annual insolvency rates for Canada and the Provinces. These figures include both consumer bankruptcy and consumer proposal filings for the years 1987 through 2013 and show the significant trend… Continue reading Annual Consumer Insolvency Rates – Canada vs. Maritime Provinces
July 2014 Bankruptcy & Consumer Proposal Statistics
Personal bankruptcies were down 4.8% and consumer proposal filings were up 7.2% as compared to the 12-months ended July 31, 2013.
June 2014 Personal Bankruptcy & Consumer Proposal Statistics
Personal bankruptcies were down 4% and consumer proposal filings were up 6.8% as compared to the 12-months ended June 30, 2013.
Beware of Debt Settlement Offers
The debt settlement and credit counselling companies would have you believe that they can easily have your credit balances reduced and save you hundreds if not thousands of dollars. The problem is they cannot guarantee any results. They will require that you pay them monthly administration fees and/or a percentage of the settlement amount as payment for their services. But you need to read their documents very closely to find out what happens to all of those fees that you have paid if they are unable to reach agreements with some or all of your creditors.