Bankruptcy

If you live in the (519) area code call 310John and we can help you sort through your debt issues.

Settlements/Transfers of assets at under value
The Bankruptcy & Insolvency Act also provides a mechanism to attack transactions where assets where transferred to someone at a time when a person was unable to pay off their debts without the aid of the property which has been transferred. Any transfer within one year is automatically void against a trustee. In other words, the transaction can easily be reversed and if the transaction happened within five years of the date of bankruptcy, it can be reversed if it can be proved that without the aid of the property; the person filing bankruptcy couldn't have paid off their debts in full.