2008-11-25
Section 178 of the Bankruptcy & Insolvency Act outlines which debts will survive a bankruptcy. Whether or not your claim will survive is going to depend on the situation that created the debt. Some examples may be: - if this is a Court fine resulting from a car accident....it will survive a bankruptcy. - if this is a Court Order resulting from wrongful death....it will survive a bankruptcy. - if the Motor Vehicle Accident fund paid out a claim for property damages that you were liable for, the debt will NOT survive a bankruptcy. However, the Alberta government may put a hold on your driver's license for non-payment of the debt. You would need to make payment arrangements with them if you want to retain your Alberta driver's license (even though the debt was written off in your bankruptcy). To get the specifics, send me an email outlining what type of debt you owe. Donna Carson, CGA, CIRP, Trustee Calgary, Airdrie, Drumheller regions 403.537.7657 or 1.877.500.0792 [email protected]
2025-04-25
Debt collection can be a daunting experience for many Canadians. Navigating the process alongside MNP’s team of experts can help you better understand how it will impact your credit score and gain the knowledge needed to maintain your financial health well into the future.
2025-04-25
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
2025-04-24
Filing a Consumer Proposal can feel overwhelming, but it’s not the end of your financial journey.
