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

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

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”.

I know there are some changes being proposed to the forgiveness of student loans in a bankruptcy. When will this happen?

I"m thinking of personal bankruptcy. I have a fulltime job plus I have a small incorporated business on the side that is pretty much on stand still. It is not making any money has no debt what so ever. Can I still consider a personal bankruptcy without effecting the incorporated business?

A Consumer Proposal is a formal, legally binding process which involves a reduction of unsecured debt, or an extension of time for repayment of the debt or both.

To keep yourself on track for a good financial start to 2016, try creating a detailed budget before you leave your house. Having a plan in hand will help you check things off your list – rather than adding to it!

MNP LTD Trustee Judy Scott was interviewed by The Province to discuss post-holiday debt.

As Canadians are struggling with a weakened economy and a consistently increasing cost of living, it's no surprise to learn that many are relying on credit and (current) low interest rates to help keep up with monthly financial obligations and expenses.

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