Your income tax refund is treated as an asset in a bankruptcy. Learn more about what exactly happens to your refund under a consumer proposal vs. bankruptcy. We also explain how CERB tax debts are dealt with in a filing.
There is a common misconception that when you file for bankruptcy in Canada, you lose everything. But that's not true. In this post we outline exempt and non-exempt assets in a bankruptcy and how a consumer proposal actually allows you to keep everything.
A consumer proposal deals with unsecured debts, not secured debts like a mortgage. If that's the case, find out how filing a consumer proposal affects your home equity, an existing or even qualifying for a future mortgage?
Do you want to learn more about how insolvency can affect your home? This blog outlines Ontario’s exemption law on home equity, current mortgages, and strategies to plan your way out of debt while keeping your house.