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Pensioners and debt
Pensioners relying on CPP, OAS and GIS have about $1,100 per month of income. The Canadian government has established the poverty line (Low Income Threshold) at over $2,100 per month, effectively setting seniors up to fail. We live in an aging population with an increasing number of Canadians becoming entirely dependent on government pensions as […]
I can’t go bankrupt on only $5,000
There is no magic number or threshold that must be reached to be eligible to file a bankruptcy or proposal, some people think “I can’t go bankruptcy ononly $5,000”. The reality is that $5,000 for some people might as well be $5,000,000 based on their means. Although it would not make any sense to file […]
Proposals starting at $40.00 per week
Although that may not be the best way or most appropriate way to advertise it is true, consumer proposals starting at $40.00 per week are available to some qualified people. So, what do you need to qualify for such low payments? You need stable income, you generally need to have a lack of means (to […]
Resolving Discharge Issues
A surprising number of people file for bankruptcy then do not get discharged, this blog is a guide to resolving discharge issues that should help regardless of who your trustee was. Common problems: Did not pay the trustee fees Missed attending at the two required counselling sessions Did not provide trustee with the information for […]
Joint filing
You may be eligible for a joint filing in either bankruptcy or a proposal if you are in some way financially related to the person with who you wish to make a joint filing. The relationship does not need to be a blood relationship since, as previously discussed, a corporation may be considered a person […]