2025-05-07
How to be a responsible credit card user
Credit cards are a popular and convenient form of credit that can be a very useful tool.
Business Related Bankruptcy
2008-10-07
It depends on a few things: - If your business is a corporation (a legally incorporated company), you may or may not be personally liable for the company's debts; - If your business is a partnership or sole proprietorship, you are personally liable for the business debts. Your decision as to whether or not a personal bankruptcy makes sense depends on what your total debts are and what resources (income, assets, etc.) you have to pay the creditors. Are you also wondering whether the company should do a bankruptcy? If it is a corporation and the corporation's debts are only $5,000, it wouldn't make any sense to do a bankruptcy of the company. If you want to provide a bit more information, I can give you a better answer. Or if you wish, feel free give me a call or email me. Judy A. Scott Vancouver - Port Moody - Abbotsford 604-617-1711 [email protected]
Latest Blog Posts
2025-04-25
Understanding debt collection in Canada: Protecting your financial health
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
Top five mistakes to avoid when considering filing for bankruptcy
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.
