New Surplus Income Limits for 2025
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
We explain how tax refunds and tax returns are treated in a bankruptcy in Canada and what options you have to keep your refund.
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.
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... Read more »
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.
Not sure if bankruptcy is the right choice for you? In this blog, discover what debt relief alternative will suit your financial situation, as we explore 5 options from personal budgeting to insolvency.
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.
How does filing for a bankruptcy affect different registered financial accounts? Here is our comprehensive guide on how RRSPs, RRIFs, RDSPs, DPSPs, TFSAs, RESPs and others are treated in a bankruptcy.
Are you considering filing for insolvency and are curious how the process stops your creditors? Find out what a stay of proceedings is and how quickly it starts helping your financial situation.
Considering filing for another bankruptcy? It’s not uncommon, but there are some things you should know before you do. Explore the implications of filing subsequent bankruptcies and what your alternative is.
Learn the truth about 13 common credit card debt myths in Canada. Get facts about credit scores, collection rights, bankruptcy, and debt management from Canadian financial experts.
If you are facing higher mortgage payments on renewal, here's what you can do to manage or lower your mortgage payments and keep your home. Learn how to assess your financial situation and explore solutions that match your circumstances before your renewal date arrives.
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