2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2011-06-09
Hello, The Directive (11R2) in the Bankruptcy & Insolvency Act indicates that "it is necessary to establish the earnings and expenses of both the bankrupt and the bankrupt's family unit. The bankrupt must disclose the earnings and expenses of each member of the family unit by providing the Trustee with monthly income and expense statements for the entire period of bankruptcy." It also provides some clarity as to what constitutes a family unit: "in addition to the bankrupt, any persons who reside in the same household and who benefit from either the expenses incurred or income earned by the bankrupt, or who contribute to such expenses or earnings....." The Directive suggests that your daughter's income should be reported. This has always been an area of concern for Trustees and debtors alike in applying the surplus income Directive. It is recommended that you discuss your particular situation with the Trustee administering your bankruptcy. Brad Milne, CIRP Brandon, Manitoba
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.