MNP Debt Blog

I have a lot of questions and have never declared bankruptcy before. I would appreciate some advice.

How are secured creditors (mortgages, car loans etc.) affected in a bankruptcy or proposal?

i recieve an annuity from my pension if i claim bankrupcy will i lose anypart of my pension

I would like to buy a car for $5000.00 dollars. Will it be taken from due to bankrupcy?

I owe a debt to Revenue Canada for personal income taxes. Is this included in bankruptcy?

IF I owe a friend or family member can I pay him/her back with any available funds before I file for bankruptcy.

From Joy B.: How long does my bankruptcy stay on my credit report?

Is there any limit on where a person can file bankruptcy in Canada?

If I file for bankruptcy, who will know? Will my employer find out?

What effect will bankruptcy have on my credit rating? I've been hearing that I won't get credit for 7 years. Is this true?