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Category: Insolvency News
Car Loan Mortgage
The latest money-making venture for mortgage lenders is car loans, yup, a car loan mortgage. Here’s how it works. So, you have a little equity in your house, a heartbeat and a pen, that’s all you need. Oh, and you really, really want a new car. You tried the dealership, but your credit rating is […]
Separate Before Bankruptcy
It is important to separate before bankruptcy, just to make sure you get your ducks lined up properly. Here’s the logic, if you are facing the possibility of an equalization claim from your spouse for assets that are otherwise exempt from seizure by your creditors you may find bankruptcy helps you keep them. Let’s say […]
Bankruptcy is Important
It may sound strange like a strange thing to say but bankruptcy is important, very important. Our whole economic system has changed very dramatically over the last one hundred years. My grand parents bartered with their farmer neighbours for goods and services. In fact, right up until the late 1940’s, much of our economy was […]
Will I Lose My Car?
When people are considering their options under the Bankruptcy and Insolvency Act they often ask “will I lose my car?”. The answer is based on circumstantial information (your particular set of circumstances that is) that we may not have. The short answer is “probably not” although it may be “it depends”. If you have ceased […]
A Trustee’s Perspective
Let’s talk about a Trustee’s perspective on the difference between a proposal and a bankruptcy filing. Trustee’s are businesspeople, like other entrepreneurs Trustee’s are in the business of making money. There are limited ways any business can make money, it can increase sales, decrease costs or do a combination of the two. From a Trustee’s […]