In order to qualify for debt consolidation, you must have a satisfactory crediting rating and sufficient income to sustain the loan. The financial institution issuing you the loan will conduct an assessment to determine if you meet their criteria.

A consumer proposal is a legal agreement between a debtor and their creditors to settle debts for less than the total amount owed. It provides a structured payment plan that is manageable for the debtor and agreeable to creditors.

A consumer proposal is a legal agreement between a debtor and their creditors to settle debts for less than the total amount owed. It provides a structured payment plan that is manageable for the debtor and agreeable to creditors. 

One of the primary benefits of a consumer proposal is that it allows you to avoid bankruptcy. This minimizes the long-term impact on your credit rating and financial future. 

Receivership is a remedy available to secured creditors to recover their debt. A receiver is a person appointed by a secured creditor or by the court to take control of a company’s assets, sell them, and repay the creditor.

Bankruptcy is a legal process designed to help individuals or businesses eliminate their debts when they are unable to repay them. Filing for bankruptcy provides a fresh financial start but also has significant consequences.

Personal bankruptcy is a legal process that provides relief to individuals unable to repay their debts. It allows them to eliminate or restructure their debts under the guidance of a Licensed Insolvency Trustee (LIT).

In Canada, student loans are subject to specific rules in bankruptcy. These loans can only be discharged if at least seven years have passed since you ceased being a student.

Bankruptcy is a legal process designed to provide relief to individuals or businesses unable to repay their debts. It involves the liquidation of assets and distribution of proceeds to creditors, overseen by a Licensed Insolvency Trustee (LIT). 

Bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act (BIA), a federal law that outlines the process for individuals and businesses to eliminate or restructure their debts while providing fair treatment to creditors.