2024-09-25
What happens if I don’t fulfill my duties during a Bankruptcy?
Bankruptcy
If you’re going through a personal Bankruptcy, one of your main goals is to obtain your discharge — that is, to have your debts cleared so you can start fresh.
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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The fresh start you obtain after filing a Consumer Proposal or Bankruptcy offers many new paths for managing your day-to-day needs and planning for your future.
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How Often Can You File For Bankruptcy (MNP 3 Minute Debt Break)
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Canadians are facing a cost-of-living crisis. With rampant inflation, many have taken on more debt just to make ends meet. With interest rates still high, some households might be considering declaring Bankruptcy for the first, second, or even a third time.
If this sounds like you, don’t worry — many people are in the same situation, and it isn’t anything to be ashamed of. Filing for Bankruptcy or entering a Consumer Proposal might be the solution you need to relieve financial stress and get a fresh start.
