Filing for Bankruptcy on behalf of your business doesn't directly impact your personal credit score or appear on your personal credit report. However, if you've signed personal guarantees for business debts, you could be personally liable for those debts, even if the business files for Bankruptcy. Additionally, your personal liability may vary depending on the structure of your business. For more detailed information on this topic, you can read...

Debt can be a valuable tool for business growth when managed wisely. It can fund essential investments like new equipment and hiring, boosting revenue and credibility. However, it's crucial to assess debt carefully to ensure it aligns with your goals and doesn't pose undue risk. By working closely with lenders and planning strategically, you can leverage debt effectively to support your business's success. Read our blog post here for more information....

If your small business is grappling with debt, you have options to explore, including Bankruptcy and Consumer Proposals. These solutions offer pathways to address financial challenges and regain control of your business's future. Speaking with a Licensed Insolvency Trustee from MNP can provide invaluable guidance tailored to your unique situation. During a free, confidential consultation, they can assess your finances, discuss available options,...

In most cases, each person must cover their own legal fees during a divorce. In some circumstances, one spouse is ordered to contribute to the other's legal expenses. This often depends on factors such as income disparity, financial need, and the complexity of the case. Some couples may choose to negotiate the division of legal fees as part of their divorce settlement agreement. It's important to discuss potential legal fees with your lawyer.

Marital debt can stem from various sources and situations within a relationship. Common causes include: Spousal overspending Financial disagreements Unexpected expenses (e.g. medical bills, home repairs) Job loss Failure to communicate effectively about finances A lack of communication about financial goals and responsibilities can also result in misunderstandings and mismanagement of joint finances. Understanding...