2025-09-12
To be or not to be — a director. That is the question.
Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.
How Long Will A Second Bankruptcy Last
2009-08-07
A second (or multiple) bankruptcy will last longer than a first time bankruptcy. Generally...a first time bankrupt who complies with all of his/her duties will be in bankruptcy for 9 months. For a second time bankrupt....it's going to depend on when your first bankruptcy was, what the causes of the bankruptcies were, if you're compliant with your duties during this 2nd bankruptcy, the amount of your debts. The length will ultimately be decided by the Courts, but a rough average would be 10 months to a few years. There are also changes pending to the Bankruptcy Laws which, depending on your income, may extend the bankruptcy even longer. These changes which are set to take effect on September 8, 2009 may require that you make payments for 3 years. This will depend on what your income is. You may wish to contact one of our Trustees or Counsellors to see if these changes affect you. You can find them on our website athttp://www.mnpdebt.ca/contact/default.aspx. Donna Carson, CGA, CIRP, Trustee [email protected] 1.877.500.0792
Latest Blog Posts
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.
2025-09-02
How to budget when you’re living paycheque to paycheque
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.
