2009-10-23
Thank you for your enquiry. You express a difficult predicament due to family obligations. Unfortunately, if bankruptcy (or a proposal) is your only option, then there is a legal requirement to disclose and notify all your creditors. These debts will then be wiped clean upon your discharge. While difficult, you may want to consider discussing this predicament with your in-laws to gain their understanding. A bankruptcy (or a proposal) may be your only option to start with a clean slate and begin saving for a better future. You may wish to discuss the situation with a trustee first, as there some other considerations that could be taken into account. For example, if there is a dividend distribution to your creditors, your in-laws will be able to participate as creditors. Please do not hesitate to contact one of our Trustees at an office nearest to you to review your financial affairs and to discuss your options. Kelvin Tan Meyers Norris Penny Limited - British Columbia Tel: 604-637-1546 Email: [email protected]
2025-06-19
With the school year beginning and thousands of Canadian students beginning a new semester of post-secondary studies, all those hard-earned dollars from summer gigs are now being applied to tuition, books, transportation, housing, and supplies.
2025-06-18
The cost of daily goods has been rising over the past few years — increasing the price of food, gas, clothing, and many other essential items that Canadians need in their day-to-day lives.
2025-06-16
Bankruptcy Alternatives to Bankruptcy
Let’s review what a Consumer Proposal is, as well as the pros and cons of filing a Proposal, to help you determine if it’s the right solution for your unique situation.
