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How to budget for summer vacation
Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.
2011-10-25
In order to file bankruptcy, an individual must sign various documents (prepared by the trustee), which disclose the individual’s assets and creditors, income and expenses, and other pertinent information. The trustee then files these documents with theOffice of the Superintendent of Bankruptcy. The bankruptcy becomes effective upon the filing of these documents. Upon filing, the bankrupt individual is under creditor protection (called a “stay of proceedings”), meaning that no creditor can take any action to collect outstanding debts. Bankruptcy protection applies to most unsecured creditors, such as credit cards and lines of credit, unsecured loans, income taxes, student loans, and miscellaneous other debts. Bankruptcy protection doesn’t apply to certain creditors. Some examples include creditors that hold security over assets of a bankrupt (e.g., mortgage, car loan); and child or spousal support. Upon filing, all assets of a bankrupt vest in the trustee for the benefit of the bankrupt’s unsecured creditors. Certain assets are exempt from bankruptcy, and these assets may vary from province to province. Click here for a list of the provincial exemptions.More from this series:Step 1 - Meet with a Trustee to Review Your Options
2025-08-14
Vacation costs can add up quickly without proper planning. This guide can help you budget so that you can make the most of your trip without overspending.
2025-08-05
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
2025-08-04
Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.