Blog Posts

Goal of Bankruptcy

November 10, 2019

Bankruptcy

What Is the Bankruptcy and Insolvency Act?

Generally speaking, the Bankruptcy Insolvency Act (BIA) is a federal statute that governs bankruptcy, consumer proposals and receiverships in Canada. It provides relief to the honest, but unfortunate debtor from the crushing burden of debt so they can get a fresh start.

September 23, 2019

Bankruptcy

Are you still receiving statements from creditors?

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.

August 9, 2019

Bankruptcy, Collection Agencies

Is my debt also my spouse's debt?

Your debts do not affect your spouse’s credit rating!

July 25, 2019

Consumer Proposals, Bankruptcy, Debt and Relationships

Is bankruptcy bad?

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.

July 19, 2019

Bankruptcy

Keeping Your Vehicle

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.

July 6, 2019

Bankruptcy, Asset Concerns

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