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Posts from the 'Bankruptcy' category
Bankruptcy is one of the solutions set out in the Bankruptcy and Insolvency Act available for people struggling with unmanageable debt. However, bankruptcy will not automatically discharge all debts, S.178 of the BIA outlines which kinds of debts will not be automatically discharged through Bankruptcy. Both Child support and alimony payments are included in this category. This means that even if you file for bankruptcy you will still have to keep paying the full amount after you are discharges; there is no suspension of payments available. If you file for Bankruptcy while you are in...[more]