Explore which debts can be eliminated through bankruptcy or a consumer proposal in Canada. Learn about unsecured debts typically discharged, such as credit card balances, personal loans, tax debts and payday loans. Understand which debts are not dischargeable, including recent student loans, court-ordered alimony, and child support. Discover how secured debts like mortgages and car loans are handled in insolvency proceedings. This section provides essential knowledge to help you understand which of your debts can be eliminated through various debt relief options.
Unsure which of your debts can be eliminated? Reach out to Hoyes Michalos for a free debt assessment. Our Licensed Insolvency Trustees will review your debts and explain your options for debt relief.
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
Doug Hoyes explains the legal duties of the supplementary card holder in the event the primary card holder files for bankruptcy or a consumer proposal.
Category: Debts Discharged
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.
Category: Debts Discharged
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.
Category: Debts Discharged
Do you have 407 ETR debts piling up that you can no longer afford to make payments towards? Find out if these debts are considered secured or unsecured, and if they can be eliminated in an insolvency.
Category: Debts Discharged
Learn how bankruptcy affects EI, CERB, Ontario Works and other government overpayments in Canada. Understand how Section 178 of the BIA affects what debts are dischargeable.
Category: Debts Discharged
Learn the key differences, benefits and risks associated with secured and unsecured debt and how each are treated in a bankruptcy or consumer proposal.
Category: Debts Discharged
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.
Category: Debts Discharged
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.
Category: Debts Discharged
Are you a Canadian citizen that has debt accrued in the US that you can’t afford to make payments towards? Explore collections actions creditors can use and the US vs Canadian bankruptcy process.
Category: Debts Discharged
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.
Category: Debts Discharged
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.
Category: Debts Discharged
The Workplace Safety and Insurance Board coverage is a mandatory requirement for businesses in Ontario, including small businesses. Learn what happens to WSIBS debts if you file for insolvency.
Category: Debts Discharged
Bankruptcy eliminates most unsecured debts. But what about secured debts and what debts are specifically excluded from your bankruptcy discharge?
Category: Debts Discharged
In an insolvency do you need to include all individuals you owe money too? Even family or friends? This guide covers what debts to include and why, as well as what happens to your credit cards.
Category: Debts Discharged
