FAQ Category: Small Business Solutions
A Consumer Proposal does not affect your ability to file or receive your tax returns. You file your taxes normally. In a bankruptcy, the process is…
Yes. One of the major benefits of a Consumer Proposal is that you get to keep your assets and your government benefits. You will continue to receive…
You do not automatically lose your vehicle. British Columbia has specific provincial exemptions that allow you to keep a car up to a certain…
Once your Licensed Insolvency Trustee officially files your bankruptcy or Consumer Proposal, you stop making direct payments to your unsecured…
Yes. Filing for bankruptcy or a Consumer Proposal triggers a legal mechanism called a stay of proceedings. This legal protection forces creditors to…
When someone co-signs a loan, they agree to take full legal responsibility for the debt if you cannot pay. If you file for bankruptcy or a Consumer…
Your spouse will only be responsible for your business debts if they co-signed or guaranteed the loan. If the debt is entirely in your name or your…
Many business owners worry about the public stigma of insolvency. A bankruptcy filing is technically a matter of public record. The Office of the…