The State of Ontario Business Bankruptcy
In 2020, insolvencies declined in all major cities in Ontario across most industries. Learn why Canadian business insolvencies were down in 2020 and 2021 and why this trend isn’t likely to last.
Can I File for Bankruptcy While on Long-Term Disability?
Are you on long-term disability because you’re too sick or injured to work? Do you find yourself taking on more and more debt because your benefits only cover a percentage of your regular income? Are you starting to wonder whether…
Are Bankruptcies Part of the Public Record in Canada?
The realization that Bankruptcy may be your only remaining option can feel scary, overwhelming, and even embarrassing. Many people see filing for Bankruptcy as the ultimate personal and financial failure. However, the truth is, Bankruptcy can help to relieve an…
The Main Reasons People File for Bankruptcy in Canada
People file for Bankruptcy for many reasons; however, it is usually a combination of life events or circumstances that get you to the point of being financially tapped out. Here are some of the main reasons people file Bankruptcy.
Are Secured Claims Eliminated if I File for Bankruptcy?
Are you struggling to pay your bills? Are you sick of dodging calls from collection agencies? Are you feeling completely exhausted and defeated by your finances? If you’re unable to make your debt payments and you're at the point where…
Facing Bankruptcy or a Mortgage Foreclosure? Here’s What You Should Know
If you’re behind on your mortgage payments, you may be wondering whether filing Bankruptcy can help save your home. Foreclosure is an undesirable outcome for both you and the lender. What can you do? Can Bankruptcy hurt you or help…
Considering Closing Your Business and Filing for Bankruptcy? Read These 4 Tips First.
If your small business is in trouble, there are some important facts you need to know about business Bankruptcy vs. personal Bankruptcy. The economic crisis has been tough on many small businesses. Some have eliminated staff, cut their hours of…
What is CCAA in Canada?
The Parliament of Canada allows insolvent companies to restructure their finances through the Companies’ Creditors Arrangement Act (CCAA). The act allows a troubled corporation to potentially avoid the consequences of bankruptcy. Not only is it in the best interest of…
Ontario Bankruptcy Exemptions in 2020: FAQs About the Assets You Keep
Can Ontario’s bankruptcy exemptions protect your most valuable assets? Indeed, they can. One of the most pervasive myths about bankruptcy is that you cannot file when you have assets you’d like to keep. This is simply not true. The purpose…
Is Ontario Bankruptcy the Only Option?
Did you know that an Ontario bankruptcy is not your only option when you have too much debt? It’s true...you actually have three main options. And...did you know that the only person to help you with all three options is…