Friday, 30th July, 2010
Toronto Directory
SPECIAL SECTIONS
Federal Bankruptcy Exemptions 2010
Bankruptcy exemptions vary by province in Canada. Here is a complete list of Federal Government exemptions a bankrupt individual can keep in Ontario: Click here
Bankruptcy and Insolvency Act 2010
Knowing your rights is imperative to ensuring creditors preserve as many of their assets as possible. This link takes you to the Government of Canada's website containing a copy of the Bankruptcy and Insolvency Act (R.S., 1985, c. B-3). Click here
Bankruptcy in Canada 2010
Here's a comprehensive overview of procedures and legal consequences of consumer bankruptcy in Canada. This article discusses Bankruptcy reform, discharge rules, the Wage Earner Protection Program Act, reduction of the student loan discharge period from ten to seven years, protection of all registered retirement savings plans and more. Click here
RRSP’s: What Happens To Them When You Go Bankrupt?
I came across this fantastic news today in the Toronto Sun newspaper that will give investors some peace of mind:
If you find yourself in financial trouble and have to declare bankruptcy, your registered retirement savings are now safe from your creditors.
Recent amendments to Canada’s Bankruptcy and Insolvency Act now rule that for bankruptcies occurring after [...]
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