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.
2009-09-30
Hello, The answer to your question depends on the circumstances. If a creditor has obtained a judgment through the court for a debt incurred prior to the date of bankruptcy and then registered this judgment on your property, it is not likely enforceable after the date of bankruptcy. There is a stay of proceedings in effect that prevents creditors from continuing or commencing any further collection efforts. At the same time, there are a few exceptions. For example, if Canada Revenue Agency placed a statutory lien on your property prior to bankruptcy, this lien remains enforceable. It should also be noted that bankruptcy does not interfere with the rights of secured creditors. If you have a car loan, for example, you must continue to make the payments provided the creditor has taken the car as collateral on the loan. There are many variables that come into play here depending on who the creditor is and the nature of the debt. Generally speaking, however, the stay of proceedings prevents a creditor from contintuing their collection efforts. Brad Milne CIRP Trustee in Bankruptcy Brandon, Manitoba
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.