Almost one in five insolvencies in Canada (a bankruptcy or consumer proposal) involves someone who has experienced a marital or relationship breakdown. Often the financial problems occurred long before the divorce. Financial pressures often increase after divorce as two households are now trying to live on the same income as one household did before the […]
What Types of Proceedings Can You File Under the Bankruptcy & Insolvency Act?
June 28, 2016 By J. Doug Hoyes
The Bankruptcy & Insolvency Act regulates insolvency law in Canada. This legislation governs both business proceedings and personal procedures. In terms of personal insolvency, individuals have three basic legal measures available to them to obtain relief from creditors. The primary types of insolvency proceedings under the Bankruptcy & Insolvency Act include filing personal bankruptcy, a […]
Superintendent of Bankruptcy Changes Designation to Licensed Insolvency Trustee
January 5, 2016 By J. Doug Hoyes
Individuals able to provide debt relief services under the Bankruptcy & Insolvency Act (BIA) in Canada are licensed by the federal government through the Office of the Superintendent of Bankruptcy (OSB). In December of 2015, the OSB announced a significant change in the designation of these professionals from Trustee in Bankruptcy to Licensed Insolvency Trustee […]
How Debt Can Impact Your Ability To Sponsor An Immigrant To Canada
November 3, 2015 By J. Doug Hoyes
With the well-documented problems occurring now in many areas of the world, an increasing number of Canadians are considering sponsoring a relative or other person to immigrate to Canada. But is it possible to be a sponsor if you have debt? The answer is yes, but there are limitations. First, a caveat: I am a […]
Do I Need A Lawyer To File For Bankruptcy?
September 3, 2015 By J. Doug Hoyes
If you are struggling with more debt than you can repay, you may be considering either bankruptcy or a consumer proposal to help you deal with those debts. If you are, then you need to speak with someone who is a licensed Bankruptcy Trustee; in Canada, that person is not a lawyer. A Bankruptcy Trustee […]
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