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.
2008-11-25
When an individual files for bankruptcy or makes a proposal, they make a list of all of their assets (and sworn under oath). Certain assets are considered exempt and certain ones are non-exempt. Exempt means that they are protected from seizure or are an asset you get to keep. Timeshares are non-exempt. So if you file for bankruptcy, the timeshare will be an asset that the Trustee will have to realize on. When the Trustee has an asset that they have to realize on, they will review the option of selling it or having you buy it back from your bankruptcy Estate. This is subject to any of your creditors who may have taken the timeshare as security or collateral for their loan. There may be 2 assets that the Trusee will be reviewing....both the value of the timeshare itself, and the value of any banked weeks you may have in the pool. Donna Carson, CGA, CIRP, Trustee Calgary, Airdrie, Drumheller regions 403.537.7657 or 1.877.500.0792 [email protected]
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
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.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.