After filing bankruptcy, you should no longer receive statements from creditors. But, in some instances, you may still receive some statements. Don’t worry. If you’ve filed bankruptcy or make a consumer proposal, there is no need to worry about the statements.
After filing bankruptcy, you are expected to attend two mandatory credit counselling sessions, required under the Bankruptcy Insolvency Act, to aid in your financial rebuilding process.
Your debts do not affect your spouse’s credit rating!
The short answer to the question “Is bankruptcy bad” is no. When a lender borrows money, they are gambling that the borrower can not only repay the debt – but also that the borrower is going to pay them a fee for doing so.
Every day at Welker & Associates, we field questions about whether or not people can keep their car when declaring bankruptcy. Terms like thresholds, equity and wholesale value get thrown around, and it can be confusing for people in an already complicated situation.
Life in your 30’s can come with many great milestones, like starting a family, buying a house, etc. but for many it means that financial commitments have grown and juggling expenses and responsibilities with saving money for the future is harder than ever before.
When in a committed relationship, should you share a bank account or keep your accounts separate? In my opinion, sharing an account is the way to go and here is why: