2025-08-25
Owe the CRA money? Steps to help you get back on track
Owing the government money can be very intimidating as it's assumed the government has a limitless ability to collect the debt through any means necessary.
Bankruptcy And Family Debts
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]
Latest Blog Posts
2025-08-14
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.
2025-08-05
How to budget when you’re unemployed
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.
- First steps to take when you become unemployed
- Managing your expenses
- Seeking professional help
