On occasion people with debt problems may indicate that they are contemplating filing Chapter 7. Chapter 7 refers to a section of the United States Code that provides for the liquidation of an individual’s non-exempt property and the distribution of the proceeds amongst his or her creditors.

I purchased furniture on my credit card. If I go bankrupt, can my creditor repossess my furniture?

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

Can a bankrupt obtain credit while in bankruptcy? What types of credit are available?

In BC, most creditors (including Visa) have to obtain a court judgment against you before they can garnish your wages.

I am a second time bankrupt. Can CRA keep undischarged for longer than 12 months?

Personal income tax debt is a huge problem for both salaried and self-employed Canadians. The question is: why?

When dealing with debt, there are both formal and informal options. Formal options are undertaken via the Bankruptcy and Insolvency Act (BIA).

The Ontario Ministry of Consumer Services has recently issued an alert warning consumers to exercise caution when considering a contract for services being marketed as “debt settlement”, “debt management”, “debt reduction” or “debt consolidation”.

High consolidation loan against car - what happens in a bankruptcy? - "seize or sue" options that the lender has