MNP Debt Blog

If you go into bankruptcy or do a Proposal under the Bankruptcy and Insolvency Act, the creditor cannot attempt to collect from you, but they will attempt to collect the amount from the joint debtor, who in your case is your spouse.

There seems to be much confusion in Canada about what debts are released, or not released, in a bankruptcy or proposal. In part, I think that this is because people reading web pages on bankruptcy often find information on US bankruptcy laws, which are...

I am on Social Security and my monthly payments to my credit cards are becoming too much to handle individually. Can I declare bankruptcy and make smaller payment to them.

My wife left our marriage and has since filed for personal bankruptcy. She left behind promisory notes to repay family members for $60,000. Naturally, they are worried this money is now lost to them. Will they lose their privately loaned money? What...

A quick description of what the term "Surplus Income" means in a bankruptcy.

What happens to my farm equipment and livestock if I declare bankruptcy?

I'm in the process of trying to sell my house, but there isn't enough money to pay off the mortgage, the realtor and the lawyer. What do I do?

I currently have 2 vehicles financed and a mortgage. If I claim bankruptcy will I get to keep at least one vehicle?

These are some of the changes that came into force on July 7, 2008.

Can you tell me what happens to shares in a company when one shareholder declares bankruptcy?