Bankruptcy and Insolvency Act Archives - Page 5 of 18

Is debt restructuring possible when income is limited to an old age pension?

Posted on March 1, 2015April 16, 2016 by Jordan Rumanek

Is Debt Restructuring Possible When Income is Limited to an Old Age Pension?

The source of a person’s income does not determine if they are eligible to file a bankruptcy or a proposal, though the amount of their monthly income may affect the options available. A trustee will be able to help you decide which choice makes the most sense for you, based on your individual circumstances.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

Do I need a bankruptcy attorney?

Posted on March 1, 2015April 16, 2016 by Jordan Rumanek

Do I need a bankruptcy attorney? If you are not sure please contact us.

A trustee in bankruptcy is a person licensed by the Superintendent of Bankruptcy to administer proposals and bankruptcies and manage assets held in trust. The trustee can give a debtor information and advice about both the proposal and bankruptcy processes and make sure that both the debtor’s rights and the creditor’s rights are respected.

If the trustee feels that you need the protection of independent legal advice then they will refer you to a bankruptcy attorney.

What do I do if I have Canadian debt but now live in a foreign country?

Posted on March 1, 2015April 16, 2016 by Jordan Rumanek

What do I do if I have Canadian debt but now live in a foreign country?

In order to file bankruptcy in Canada, you must have debts in Canada, or live in Canada, or have assets in Canada. If you feel that the best solution for your debt situation is bankruptcy or a consumer proposal, you may need to return to Canada to meet with a trustee. There are several parts of a bankruptcy administration that require in-person meetings. In some cases, permission from the Office of the Superintendent of Bankruptcy may be granted to conduct meetings by teleconference. Email a trustee to find out what your options are.

Can I keep one credit card for emergencies if I file for bankruptcy?

Posted on January 10, 2015April 16, 2016 by Jordan Rumanek

Can I keep one credit card for emergencies if I file for bankruptcy?

No, you cannot keep one credit card for emergencies. All credit cards must be tuned over to your trustee when you file an assignment in bankruptcy or a proposal. You can, of course, apply for new credit and new credit cards once you have filed a proposal or a bankruptcy. Your trustee can advise you on how to do this as well as the limitations on how much credit you can get and what disclosures you must make.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. Thank you. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.

Tag: Bankruptcy and Insolvency Act

Is debt restructuring possible when income is limited to an old age pension?

Is Debt Restructuring Possible When Income is Limited to an Old Age Pension?

Do I need a bankruptcy attorney?

Do I need a bankruptcy attorney? If you are not sure please contact us.

What do I do if I have Canadian debt but now live in a foreign country?

What do I do if I have Canadian debt but now live in a foreign country?

Can I keep one credit card for emergencies if I file for bankruptcy?

Can I keep one credit card for emergencies if I file for bankruptcy?

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