Information About Hoyes Michalos Ontario Bankruptcy Blog
Below is a preview of the five most recent posts from the blog Hoyes Michalos Ontario Bankruptcy Blog. To read these posts in their entirely or subscribe to future updates from this blog, please visit their website!
- Can Bankruptcy Stop a Tenant Eviction for Rent Arrears?
A bankruptcy or consumer proposal provides an automatic stay of proceeding that can stop an eviction order from your landlord for rent arrears. Unpaid rent, up to the date of filing, is included as a debt discharged by bankruptcy or forgiven in your proposal. Eviction process A landlord must follow … Read more »
- How Is Cosigned Debt Treated in a Consumer Proposal?
A common concern is how cosigned debts are treated when one person files a consumer proposal. When someone files a consumer proposal, they make a deal with their unsecured creditors to repay a percentage of what they owe. What happens to the rest of the cosigned debt and is a consumer proposal the r … Read more »
- Will There Be A Bankruptcy Creditors’ Meeting and What to Expect
In a personal bankruptcy in Canada, a creditor’s meeting is rare, happening in less than 1 in 1000 bankruptcies. A meeting of creditors’ is required: In a summary bankruptcy or consumer proposal, if at least 25% of your creditors, based on the dollar value of their claims, ask for a meeting; If requ … Read more »
- Bankruptcy Options in Canada
The Bankruptcy & Insolvency Act defines the legal options where an individual, or company, can be relieved of their obligation to repay debt. In Canada, there are 4 common bankruptcy options: Personal bankruptcy for individuals and small businesses; Business bankruptcy for incorporated companies; Co … Read more »
- Debt relief for seniors. What are your options?
Many more seniors are carrying substantial consumer debt into retirement. What happens when you can’t pay back that debt? What options do seniors have for debt relief? There are many reasons why people carry debt beyond their 50s, and into their 60s and even 70s. It’s unrealistic to think it’s as si … Read more »