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.
2012-08-24
Author: Bradley Milne
Hello,
Bankruptcy does not affect your ability to receive child tax benefits. If you are eligible for this benefit, you would continue to receive it during the bankruptcy and the Trustee would have no interest in these funds.
GST credits are treated differently. Upon filing for bankruptcy, a notice of the proceeding is sent to Canada Revenue Agency who in turn starts sending your GST credits directly to the Trustee. These funds are held in trust and, in some cases, a certain amount of your GST may be returned to you at the end of the bankruptcy. The extent to which some GST may be returned to you is based on whether or not a dividend is payable to your creditors without taking the GST funds into account. In summary, understand that your GST will be directed to the Trustee during the bankruptcy, however, you may get some of it back at the end of the process.
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.