Nobody wants to file for Bankruptcy. Yet, each year over 120,000 Canadians declare Bankruptcy or file for a Consumer Proposal. These are hard-working people who, for one reason or another, find themselves unable to maintain their debt. From the financial…
No one wants to be indebted to the Canada Revenue Agency (CRA). However, every year thousands of Canadians find themselves owing more in income tax than they can afford. For those who are self-employed or those with multiple streams of…
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…
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…
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…
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…
You’re in the middle of a money crisis and you need emergency financial assistance right now. Maybe you or someone you care for has Covid-19 or been exposed to it. You may be between jobs or out of work for…
The Bankruptcy and Insolvency Act of Canada (BIA) is a nationwide statute. The BIA regulates bankruptcy and insolvency across Canada. It defines the legal bankruptcy process, among other things, to protect both individuals and their creditors. The BIA regulates: Bankruptcy…
The Bankruptcy Assistance Program The Bankruptcy Assistance Program (BAP) is designed to help make bankruptcy affordable for debtors who cannot afford the fees of a Licensed Insolvency Trustee (LIT). It permits people who do not have the funds to cover…
Receivership and bankruptcy may seem identical because they often occur at the same time. But they’re not the same. Receivership can be a part of bankruptcy. It can also be a standalone procedure. So what’s the difference? In this article,…
At Adamson & Associates Inc., we have built a solid reputation as an Ontario Licensed Insolvency Trustee and Consumer Proposal administrator. We provide our clients with the best in professional insolvency services. We understand that bankruptcy can be a troubling and confusing time for most people, so we strive to provide our clients with information every step of the way to reduce their stress levels and anxiety about the future.
