It can be difficult to understand how unpaid debts will be dealt with in a bankruptcy or consumer proposal. This blog discusses contingent and future debts that may be eligible for claiming during either process.
In Canada, you must have a minimum amount of unsecured debt to file bankruptcy, but how much debt causes bankruptcy is different for everyone. See from our bankruptcy study how much debt tends to lead to insolvency.
Are you and your partner considering a joint debt, like a credit card? It's important to know your financial and legal responsibilities here, so we created a guide on what you need to know before co-signing.
Does filing for insolvency have any impact on your mortgage? Find out what laws you need to know about that can determine if bankruptcy or consumer proposals interfere with your mortgage and how it works.
The Bankruptcy & Insolvency Act states you must surrender all credit cards. Our experts offer advice on how to manage purchases without a credit card during bankruptcy and when you can apply for a new card.
What makes a debt a joint debt? What are the implications of cosigning a loan with your spouse. Doug Hoyes reviews when you are responsible for your spouse's debts and what happens if they file insolvency.
If you co-sign a loan you are responsible for it if the primary borrower cannot make payments. Explore creditors rights to collect, how bankruptcy eliminates the debt and what to do if you’re the co-signer.
If you shared credit cards before a divorce, find out who is responsible for any credit card debt regardless of what your divorce agreement says and what happens if your ex-spouse fails to pay off the debt as agreed.