March 11, 2019 by Questions
Automatic Stay of Proceedings in Bankruptcy In Manitoba, an “automatic stay of proceedings” comes into effect after you file for bankruptcy. The bankruptcy stay prohibits unsecured creditors from launching lawsuits or continuing current ones. It also stops these creditors from implementing wage garnishments against the person that has filed a bankruptcy or consumer proposal. This […]
March 11, 2019 by Questions
What are the Top Financial Disaster Warning Signs? Most people will tell you that they are in complete control over their finances. They may have a great home, a beautiful car and their business can be thriving. However, a financial disaster can be lurking in the background, and before you know it, you become a […]
March 11, 2019 by Questions
What is the Difference Between Secured and Unsecured Debt? There are two main categories which loans and finance fall under. This is a Secured Debt and Unsecured Debt. It is crucial that before applying for any credit products from a broker that you completely understand the difference between the two categories. Today we will go […]
You are not alone if you cannot pay your bills. Almost every person in Manitoba reaches this point at least once during their lives. Like many other Canadians bills can get ahead of you. If you are not careful you could end up using a low interest credit card to pay off higher interest debt […]
March 11, 2019 by Questions
How to Calculate Surplus Income in Bankruptcy Family unit of 2 Surplus Income Adjustment Calculation Bankrupt’s net monthly income: $3,300 Second family member’s net income: $1200 Total family income unit: $4,500 Government income threshold for a family unit of 2: $2,743 Income over the threshold: $1,757 ($4,500 minus $2,743) The trustee will calculate the percentage […]