FAQ

FAQs

The creditors have no recourse against you during your bankruptcy and all procedures are stayed. Certain exception exists such as fines and alimony support.

If the property is fully mortgaged and the mortgage payments are up to date, you may keep your property.

Should there be equity on the property the consumer proposal could be a viable solution to your problems in order to keep the family residence.

Your spouse, wife or common law will not be responsible for any of your debts if you declare bankruptcy.

If your spouse has jointly signed your debts or has secondary credit cards on the same account, then she will be liable for those debts.

Student loans that are older than 7 years from the date you have been a student will be erased by the bankruptcy.

A 'Hardship' application can be filed to have student loan discharged after five year period.

The minimum amount is $1,000.00. You must also be unable to meet your obligation as they become due.