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.
Now That Ive Gone Bankrupt
2014-05-08
Even though bankruptcy laws are the same across the country, personal exemptions are different from province-to-province. In Québec, you generally get to keep your personal belongings up to a value of $6,000, as well as tools or equipment needed for your work, clothing and RRSPs (except for contributions made in the last 12 months prior to declaring bankruptcy). You may also possibly keep a leased car and your house, depending on whether there is any equity or value in the asset (i.e. the value of the asset less any lien or mortgage.) Each situation is different, so it’s important to discuss your individual case with a Trustee.
The assets you may lose will depend on what they are and if there are any liens or mortgages attached to them. Examples of assets that you would lose are a TFSA, RESP or a car that has no lien and has value.
For a complete review of what you can and may not be able to keep within Québec, set up a free, confidential consultation with a licensed Trustee to review your situation and learn about your rights and options.
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.
