New Surplus Income Limits for 2026
The government sets a limit on how much income you can keep before you have to make extra bankruptcy payments. This limit is updated each year. Learn more about this threshold.
Category: Bankruptcy Basics
Consumer Proposal and Bankruptcy Blog | Debt Solution FAQs
Our knowledgeable team of Licensed Insolvency Trustees provide information and expert advice to help you on your way to becoming debt free. Our extensive debt help resource centre includes articles, videos, and podcasts on how to get out of debt including commonly asked questions about consumer proposals, bankruptcy, and debt consolidation options. Become informed about credit rebuilding and other money management tips as you search for a solution to your debt problems.
Court Rules Debt Consultant Fees Must Be Disclosed
A recent court decision confirms that debt consultant fees must be disclosed in a consumer proposal. Without full financial transparency, the court may refuse approval under the BIA.
Category: Debt Relief
Ontario Bankruptcy Exemptions: What Can They Take and What Assets You Keep
Will you lose everything if you file for bankruptcy in Ontario? We explain what assets you keep by law, what you may lose and an alternative option you may have so you can keep everything.
Category: Assets & Property
What Does It Cost To File For Bankruptcy In Ontario?
We explain the three factors that affect how much you may have to pay to file bankruptcy in Ontario: income, assets and if you have filed before.
Category: Bankruptcy Basics
How to Get Out of Gambling Debt in Canada
Are you struggling with debts that stem from gambling? Find out how a bankruptcy or consumer proposal can discharge gambling debts. Read a real case study and explore your debt relief options.
Category: Debts Discharged
Second Mortgage Home Equity Loan or Interest-Free Consumer Proposal?
What can you do if you are unable to make your some debt payments yet you have significant home equity? We explain home equity debt consolidation, home equity loans and when a consumer proposal is a better option.
Category: Bankruptcy Alternatives
Should You Use a Second Mortgage to Consolidate Debt?
If rising house prices has helped you build some equity in your home, is consolidating credit card and other consumer debt with a second mortgage worth it? Explore the pros and cons.
Category: Loans & Borrowing
Who Will Know I Filed Bankruptcy?
Filing for bankruptcy may bring up feelings of embarrassment, and it’s understandable if you don’t want everyone to find out about it. So, who can find out if you've filed bankruptcy? Doug Hoyes explains.
Category: Bankruptcy Process
Layman’s Guide to the Bankruptcy and Insolvency Act in Canada
Curious about how bankruptcy law works in Canada? This easy-to-follow guide breaks down the Bankruptcy and Insolvency Act, explaining key terms, rights and responsibilities, and how the law helps both individuals and businesses deal with serious debt problems.
Category: Bankruptcy Process
6 Key Bankruptcy Rules in Canada Explained
Bankruptcy is a legal and regulated process governed by federal legislation. Here are the top 6 bankruptcy rules you should know before filing bankruptcy in Canada.
Category: Bankruptcy Basics
Maxed Out Credit Cards: What Happens and What To Do About It
Understand the true impact of a maxed out credit card balance including how it can hurt your credit score and steps you can take to turn things around from budgeting to professional debt relief options.
Category: Dealing with Debt
What Happens When You Have Unfiled Tax Returns?
It’s not that unusual for people to avoid filing taxes because they are scared large tax debts will arise from it. Find out what can happen if you have unpaid debts to the CRA and what you should do.
Category: Dealing with Debt
15 Warning Signs You Have a Debt Problem & How To Fix It
Debt ads up over time. Spot the warning signs of debt problems so you can stop the slide into insolvency if possible. We explore what you can do if you struggle with debt repayment.
Category: Dealing with Debt
How Long Does Bankruptcy Last in Canada (& Ontario)
Are you filing a first or second bankruptcy and have questions about how long you will be bankrupt? Learn about the typical length of a bankruptcy, factors that may affect this length and if there are alternatives.
Category: Bankruptcy Basics
HELOC Debt: Is a Home Equity Line of Credit Right for You?
Should you consolidate credit card debt with a home equity line of credit? Find out how a home equity line of credit works and if it’s really the right choice for you.
Category: Loans & Borrowing
How to Stop a CRA Wage Garnishment
The CRA has strong collection powers, one of which is the ability to garnish your wages. Learn everything you need to know about a CRA wage garnishment and what you can do to avoid this proceeding.
Category: Creditor Actions
Tax Refunds and Filing Taxes With A Consumer Proposal
Learn if you can keep tax refunds in a consumer proposal and who is responsible for filing tax returns before, during and after your proposal.
Category: Consumer Proposals
Will Bankruptcy Take My Tax Refund?
We explain how tax refunds and tax returns are treated in a bankruptcy in Canada and what options you have to keep your refund.
Category: Bankruptcy Basics
What the Bank of Canada’s Interest Rate Means for Your Debt
Do you know a higher or lower interest rate could mean for you? Learn about the interest rate patterns in Canada, how recent changes affect your finances, and what you can do to move forward confidently.
Category: Loans & Borrowing
Filing Bankruptcy With a Mortgage in Canada
Many homeowners struggling with debt worry about what happens to their mortgage if they decide to file for bankruptcy. Will you lose your home? Can you catch up on missed mortgage payments? This article explains how bankruptcy in Canada treats a mortgage, how a Licensed Insolvency Trustee (LIT) calculates your home equity, and what options... Read more »
Category: Bankruptcy Basics
Can’t Pay Your Mortgage? Mortgage Relief Options to Keep Your Home
Are you struggling to keep up with your mortgage, but are determined to keep your home? Whether your mortgage is just too high or other debts are the real culprit, explore solutions to protect your home and regain financial stability.
Category: Debt Relief