2025-10-21
How we helped a client decide between a consumer proposal and bankruptcy
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2012-01-04
1. A farmer may be able to claim both a principal residence and a homestead, but he must live on the homestead for at least part of the year in that case.
2. Only one car/ truck can be exempt.
3. Land other than the homestead (home quarter) is not exempt.
4. Only individuals get exemptions, corporations do not.
5. Certain types of security can survive a bankruptcy, notwithstanding that there are no assets to attach at the date of bankruptcy. You should consult with our insolvency professionals if any lender has a general security agreement over your assets.
6. Claims for exemption will not succeed against what is commonly termed “Bank Act” security.
The interplay between exemptions and security is complex in a farm scenario and we strongly encourage you to consult with us in respect to your particular situation. For more information, please contact us or consult our Bankruptcy FAQ.
For non-farmers in Saskatchewan click here or see below for details on exempt assets in other Provinces:
2025-10-21
A client thought bankruptcy was their only way out. See how a consumer proposal helped them keep their home and repay debt with confidence.
2025-10-20
Alternatives to Bankruptcy Bankruptcy Consumer Proposal Lifestyle Debt MNP Consumer Debt Index
Just when seniors should be relaxing and enjoying the fruits of their labour, many find themselves struggling financially — an unsettling contrast to the ease they’d hoped to live their golden years.
2025-10-17
This is called buyer’s remorse. In some cases, Canadian law provides protections that can help you reverse these costly decisions and avoid sinking further into debt.