2025-10-13
Managing debt through divorce: What to consider
Debt Solutions Lifestyle Debt
When relationships end, shared debt can become a lasting burden. Here’s what to know about your responsibilities, risks, and financial options.
What Happens With Income Tax Debt In Bankruptcy
2011-01-28
Hello, This is a good question as there is a common misconception that income tax debt is not discharged or "forgiven" in bankruptcy. Income tax debt is in fact extinguished in bankruptcy. One exception would be if you owe a substantial amount to Revenue Canada for an income tax debt and they have registered a Certificate of Judgment on your property. If this has occurred, the judgment remains enforceable and essentially has the effect of a mortgage on your property (i.e. the debt would have to be paid before the judgment would be removed). Brad Milne, CIRP Trustee in Bankruptcy Brandon, Manitoba
Latest Blog Posts
2025-10-06
Ontarians face ‘heat or eat’ decisions as financial strain deepens
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
Report: Saskatchewan and Manitoba residents’ financial cushion shrinks as more edge closer to insolvency
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.
