The process of filing for bankruptcy in Nova Scotia is no different than filing for bankruptcy in any province. If you owe at least $1,000 and are insolvent (generally defined as either having more debt than assets and/or as not being able to pay your bills as they are due) you can file bankruptcy. To […]
Category: Blog
Blog
Are you looking for debt topics in Nova Scotia? Look no further, our blog has an incredible amount of debt-related content. Read on!
Filing Bankruptcy Yourself – Is it even possible?
The question of filing bankruptcy yourself or whether filing bankruptcy yourself is even possible is a question we receive from time to time. Bankruptcy is governed by the Bankruptcy and Insolvency Act which stipulates that bankruptcy must be filed through a Licensed Insolvency Trustee. Without a Licensed Insolvency Trustee you cannot file a bankruptcy. Does […]
Consumer Proposal vs Bankruptcy: A Detailed Comparison
When we assist clients in reviewing their debt consolidation options we can often tell that our clients wonder whether or not they should file bankruptcy vs consumer proposal or if other options are more viable and should be considered. We try to make this as easy as possible by visually showing them the difference in […]
How does a consumer proposal affect credit?
I wrote in my article about whether a consumer proposal can be rejected that the most frequently asked question I receive is in relation to if a proposal can be accepted. The second most frequently asked question by far is how does a consumer proposal affect credit? There is a lot to this question but […]
Credit Counselling
Credit Counselling is a form of debt consolidation. It is a very specific form of consolidation that is done by engaging the services of either a for-profit or non-profit credit counselling firm. So how does credit counselling typically work? Credit counselling typically works by signing on with a for-profit or non-profit credit counselling firm who […]
Help With CRA Debt – Your Options
Do you require help with CRA debt? You are not alone. Many of our clients suffer from overwhelming and stressful CRA debt. Unlike other creditors, CRA is not always willing to cooperate with consumer debtors and they often do not know how to engage CRA in an efficient manner. They often want any outstanding debt […]
Can A Consumer Proposal Be Rejected?
Can a consumer proposal be rejected? Yes, a consumer proposal can be rejected. A consumer proposal requires that at least 50% of your creditors vote in favour of your proposal. In the event they do not, it will not be accepted. Thankfully, when working with us the chance of a proposal being rejected is almost […]
Bankruptcy: What is it? How does it work? Cost? Worth it?
Are you considering filing bankruptcy but are not sure of the ins and outs? Our offices have assisted thousands of Dartmouth, Halifax, and Nova Scotia residents navigate the most common questions we get asked. These are What is a bankruptcy, how does it work, how much does it cost, is it worth it, and should […]
Consumer Proposal: What is it, how does it work, etc?
Are you considering filing a consumer proposal but are not sure precisely what a proposal even is? We receive a significant number of inquiries as to what a consumer proposal is, how do they work, what are the costs, and if you should file one. We will dive into all of these questions in this […]