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Bankruptcy and Consumer Proposal Questions (FAQ)

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    Questions about Bankruptcy and Consumer Proposals in general

    • Q: What is the difference between a Bankruptcy and a Consumer Proposal?
    • Q: Are there any criminal charges if I file for Bankruptcy or a Consumer Proposal??
    • Q: Is it possible to rebuild my credit after Bankruptcy or filing a Consumer Proposal?
    • Q: How long will a Consumer Proposal or Bankruptcy stay on my credit record?
    • Q: Can I keep my cell phone, internet, etc. if I am in Bankruptcy or in a Consumer Proposal?
    • Q: Can I rent an apartment if I am in Bankruptcy or a Consumer Proposal?
    • Q: Will filing Bankruptcy or Consumer Proposal impact my ability to get a job in the future?
    • Q: Should I change banks after a Bankruptcy or Consumer Proposal?
    • Q: Can I go Bankrupt or file a Consumer Proposal in Canada if I am a Canadian living abroad?
    • Q: Can I do anything about the taxes I owe to Revenue Canada?
    • Q: What alternatives are there to filing for Bankruptcy?
    • Q: What is an Insolvency Trustee in Canada?

     

    Consumer Proposal Questions

    • Q: What are the advantages of a Consumer Proposal?
    • Q: Will I lose my house, vehicles and or other assets if I file a Consumer Proposal?
    • Q: What happens when I need to renew my mortgage if I file for a Consumer Proposal?
    • Q: Do I pay back my full debt during the Consumer Proposal process?
    • Q: How much does a Consumer Proposal cost?
    • Q: How long does the Consumer Proposal process last?
    • Q: What happens if I can't afford to finish my proposal?
    • Q:What if I forget to include an unsecured creditor in my proposal?
    • Q: How to start the Consumer Proposal process in Canada?
    • Q: Can I stop wage garnishments and collection agencies by filing a Consumer Proposal?
    • Q: How long will a Consumer Proposal remain on my credit report?

     

    Bankruptcy Questions

    • Q: What are the advantages of a Bankruptcy?
    • Q: Will my spouse or my family be responsible for my debts if I file for Bankruptcy?
    • Q: Someone co-signed on my loan. What happens to them if I declare Bankruptcy?
    • Q: If I declare Bankruptcy, will I lose everything I own?
    • Q: Can I keep my home if I file for Bankruptcy?
    • Q: Can I keep my car if I file for Bankruptcy?
    • Q: What does it cost to file for Bankruptcy?
    • Q: I have outstanding student loan. How does this impact filing for Bankruptcy?
    • Q: What does it mean to be discharged from Bankruptcy?
    • Q: What happens if I am not discharged of my debt after Bankruptcy?
    • Q: What happens if I hear from a creditor that I forgot to include after I am discharged from bankruptcy?
    • Q: If I go bankrupt, do I still have to pay child support?
    • Q: Can I still get a credit card if I go bankrupt??
    • Q: Will my Bankruptcy be made public?
    • Q: What are my duties if I go bankrupt?
    • Q: How long does a Bankruptcy last?
    • Q: Are all my debts covered by a Bankruptcy?
    • Q: How much will I have to pay in surplus income if I go bankrupt?
    • Q: Can a Bankruptcy be cancelled?
    • Q: Can I still operate my business if I am bankrupt?
    • Q: Will I lose my RESP if I file for Bankruptcy?
    • Q: Can I be bonded after filing for Bankruptcy?
    • Q: How does Bankruptcy affect my tax returns?
    • Q:Am I responsible to pay tax on an RRSP that my trustee cashes in during a Bankruptcy?
    • Q: What does a Personal Bankruptcy mean in Canada?
    • Q: How can I start the Personal Bankruptcy process in Canada?
    • Q: Who oversees the Personal Bankruptcy process in Canada?
    • Q: Will I have to attend bankruptcy court?
    • Q: When can you not file for Bankruptcy?

     

    Questions about Credit Problems

    • Q: What is credit?
    • Q: What are the most common forms of credit?
    • Q: What are the main reasons for credit problems?
    • Q: What are the warning signs that someone could end up in financial trouble?
    • Q: What is a credit report?
    • Q: What are the main credit bureaus in Canada?
    • Q: What are the requirements to enter a debt repayment program?

     

    For answers to all your questions about Consumer Proposals or Bankruptcy, fill out the form below to schedule your free, non-obligatory consultation with one of our debt relief experts: