Delve into the fundamentals of bankruptcy in Canada, a legal process designed to relieve individuals overwhelmed by debt. Understand what bankruptcy entails, who can file, and the immediate benefits such as the stay of proceedings. Learn about the role of a Licensed Insolvency Trustee in guiding you through the bankruptcy process. Explore key concepts like dischargeable debts, exempt assets, and surplus income payments. Discover how bankruptcy affects your credit score and for how long. Get answers to common questions about life after bankruptcy, including rebuilding credit and financial recovery. This section provides essential information to help you understand if bankruptcy might be the right solution for your financial situation.
Quick Guide Link: Need a quick primer? Our Guide to Personal Bankruptcy covers all the essentials.
Do you still have questions about bankruptcy? Book a free consultation with Hoyes Michalos. Our expert Licensed Insolvency Trustees will explain the process in simple terms and help you explore all your options.
Does filing for insolvency as an insurance broker in Ontario have a negative impact? Learn about what happens to your registration if you file and what we believe is the best option for you.
Category: Bankruptcy Basics
What are the repercussions of filing insolvency as an insurance agent? Find out what is required of you if you file, if your license will be revoked and if you can become an insurance agent after.
Category: Bankruptcy Basics
Mortgage brokers or agents filing for insolvency may be able to keep their job titles. Find out reasons why a license would be revoked in a bankruptcy and how a consumer proposal can affect you license.
Category: Bankruptcy Basics
Financial struggles can occur in any situation, even those with certified designations. Find out if a bankruptcy or consumer proposal impacts your professional license, from Lawyers to Medical Doctors.
Category: Bankruptcy Basics
Are you a medical doctor in Canada and experiencing overwhelming financial hardship? Will you still be able to practise and what debt relief options are best for you? Ted Michalos explains.
Category: Bankruptcy Basics
If you are filing for insolvency in Ontario and you are a real estate agent, you have specific notification requirements to your board. Find out what circumstances can result in a revoked licence.
Category: Bankruptcy Basics
What difference does filing for bankruptcy or a consumer proposal have on your ability to practice law? If you're a lawyer facing debt problems here's what you need to know before choosing.
Category: Bankruptcy Basics
If you are filing for insolvency in Ontario as a human resource professional you need to notify the Registrar’s office immediately by law. Find out what situations can result in suspension of privileges.
Category: Bankruptcy Basics
Chartered Professional Accountants can have debt issues, but what happens when they file for insolvency? Find out the steps you need to take as a CPA filing insolvency and if you can keep your designation.
Category: Bankruptcy Basics
As a certified financial planner in Canada, you are obligated to disclose if you filed for insolvency. In this blog, learn about everything you need to know to navigate this situation.
Category: Bankruptcy Basics
It's not the amount of debt you have but your ability to repay your financial obligations that indicate whether you may need to file insolvency. Learn if you are insolvent and when you should talk with a trustee.
Category: Bankruptcy Basics
Bankruptcy itself does not have any travel restrictions. Find out when you may need to be in Canada to fulfil your duties as required to ensure you achieve your discharge.
Category: Bankruptcy Basics
Taking on another payday loan to pay back existing payday loans is not the answer. Learn how a bankruptcy or consumer proposal can eliminate payday loan debt and get the help you need to break the cycle.
Category: Bankruptcy Basics
It’s not uncommon for an insolvent debtor to want to go back to school. But are they eligible for OSAP during insolvency? Find out what factors make you eligible and what is required in your application.
Category: Bankruptcy Basics
Are you curious about the advantages and disadvantages of filing for insolvency in Canada? We provide you with the most notable pros and cons of bankruptcy, to help you navigate debt relief.
Category: Bankruptcy Basics
Females have unique challenges to manage when it comes to debt payments and accruing debt. Find out why women are more likely to become insolvent and how to protect yourself from different forms of debt.
Category: Bankruptcy Basics
Are you in your 20s, struggling with debt, and wondering if you should file for bankruptcy? Explore 3 important aspects you need to consider and how to ‘run the numbers’ before moving forward with this choice.
Category: Bankruptcy Basics
Bankruptcy doesn't have to be confusing. In this blog post we explore 10 bankruptcy definitions you should know, especially before you meet with a Licensed Insolvency Trustee.
Category: Bankruptcy Basics
Are you wondering how the government regulates insolvency in Canada? Our experts explain how the Office of the Superintendent of Bankruptcy regulates these legal proceedings and the required trustees.
Category: Bankruptcy Basics
Is your next financial decision a bankruptcy or consumer proposal? In Canada, you are required to use a Licensed Insolvency Trustee to file insolvency. learn how to pick the right one using five questions.
Category: Bankruptcy Basics
Consumers need credit for certain things, but can you get a credit card during a bankruptcy? Learn the pros and cons of obtaining new credit during, and after your bankruptcy.
Category: Bankruptcy Basics
