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.
Did you know that if you file for a consumer proposal your assets are fully protected? We break all the information down for you, from how a proposal affects your home, vehicle and other investments.
It is possible to buy a home and get a mortgage after a consumer proposal. Discover timelines, credit rebuilding strategies, and expert tips from Hoyes Michalos to achieve homeownership post-proposal.
You may be considering a consumer proposal and wondering if it will impact your spouse. To help you get a better understanding, we explain how joint debts work, how your marital assets may be affected and how your spouse may be involved in the process. Learn more.
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.
Does your employer need to know that you are filing for bankruptcy or consumer proposal? Doug Hoyes answers the most common questions people have about whether your job will be affected by filing bankruptcy.
Are leased or financed vehicles included in your bankruptcy? Learn how car payments are treated in a bankruptcy or consumer proposal and what happens to your car loan or lease obligation.
A consumer proposal eliminates your obligation to pay back unsecured debt. But what happens to your cosigner? Learn how cosigned debt is treated in a consumer proposal or bankruptcy.
Do you own a joint asset with an individual who is declaring bankruptcy? Find out the impact that bankruptcy has on jointly owned homes, vehicles, and bank accounts, and what you can do.
Learn what happens to “cash windfalls” like an inheritance or lottery win when you file bankruptcy and how you can keep these funds in a consumer proposal.
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?
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.
Filing for bankruptcy may bring up feelings of embarrassment, and it’s understandable if you don’t want everyone to find out about it. So, who can find out if you've filed bankruptcy? Doug Hoyes explains.
Are you wondering what a consumer proposal repayment plan looks like? Doug Hoyes explains 2 benefits of using this form of insolvency with actual examples of how it can affect your finances.
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.
One of the most common questions we get from our clients is “how long will the insolvency last on my credit report?” Learn how many years Canadian credit bureaus will report your bankruptcy or consumer proposal.
Did you know that bankruptcy law does eliminate most tax debt? Learn about when your tax debts can be discharged through insolvency and the implications of a CRA bankruptcy.
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