Get detailed information on what bankruptcy is, which assets are exempt from seizure, your responsibility in a personal bankruptcy and if bankruptcies are part of the public record in Canada.
Recent announcements of layoffs in Ontario by corporate giants like General Motors and Siemens will likely mean an exponential increase in the number of Ontario debtors filing for insolvency proceedings. Recently, General Motors’ CAMI assembly plant in Ingersoll announced it…
If you’re considering filing for personal bankruptcy in Kitchener / Wateroo, it’s quite likely that you’ve become overwhelmed by growing debt. And if that’s the case, you’re not alone. In fact, last year, over 125,000 Canadians found themselves insolvent. This…
If you’re having financial difficulties, you are not alone. The number of insolvencies across the nation is steadily rising. According to the Office of the Superintendent of Bankruptcy, nearly 130,000 Canadians filed a Consumer Proposal or bankruptcy just this last…
Deciding whether or not you should proceed with personal bankruptcy is not easy. Bankruptcy is widely considered a last resort to help honest debtors deal with what has become overwhelming financial debt. That said, the actual process to file for…
Jerry, age 61, has spent his whole working career in the automotive industry in Chatham-Kent, and never imagined he’d be considering filing bankruptcy. Since the closure of Navistar Trucks in 2011, he has been struggling to make ends meet. He…
The answer is in Section 84.2(1) of the Bankruptcy & Insolvency Act which states: 84.2(1) Certain Rights Limited - No person may terminate or amend or claim an accelerated payment or forfeiture of the term under any agreement, including a…
