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.
I Am Living Common Law With A Person Who Is Bankrupt And Pays Surplus Income Amounts Each Month. I Am Not Bankrupt. Does the Bankrupt Also Have to Include EI Payments I Receive and/or My Student Loan or MPI Rebate Cheque As Part of His Income?
The monthly income and expense form is to be used to document household income and expenses.
Any money coming in and going out should be documented. Keep in mind that the surplus income calculation is based on the percentage of household income accounted for by your spouse ( as well as number of people in the household).
Bradley Milne
CIRP, LIT
Senior Vice President
Servicing: Brandon, Killarney, Portage la Prairie, Neepawa, Virden, Souris, Deloraine
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If you’re struggling with your finances and heading toward bankruptcy, you may think it makes sense to sell or transfer some of your assets.
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Who Can File For Bankruptcy
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There are several common scenarios which may cause you to wonder whether personal bankruptcy is an appropriate option to get out of debt.
