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What Happens To My Debts If I Go Bankrupt

Posted on Oct 27, 2017 in Bankruptcy, Debt |

  In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, What Happens To My Debts If I Go Bankrupt. People sometimes ask me what is really happening with regards to my debts if I go bankrupt or if I do a consumer proposal? The first thing that happens with regards to your debt, when a person does a bankruptcy or proposal, the first thing that happens is a Stay Of Proceedings goes into effect. It’s kind of like a...

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What Are The Different Types Of Creditors

Posted on Oct 20, 2017 in Bankruptcy |

  In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, What Are The Different Types Of Creditors. In a Trustees world, there are three types of creditors, there are secured creditors, unsecured creditors, and contingent creditors. Contingent creditors are if you have co-signed for someone for instance. You may never be asked to pay that thing because the other person is going to do all the paying. But, who...

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Will I Lose My Personal Possessions If I Go Bankrupt

Posted on Oct 13, 2017 in Bankruptcy |

  In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, Will I Lose My Personal Possessions If I Go Bankrupt. There is a Provincial law that regulates what a person might lose, or can lose, actually let me turn it around, there is a Provincial law that regulates what creditors can take from you. If you are not paying them, and they are trying to recover their debt by seizing things. Furniture and personal...

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What Happens To My Co-signor?

Posted on Oct 6, 2017 in Bankruptcy |

  In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, What Happens To My Co-signor?.   When people do a bankruptcy or even a consumer proposal, if they have a co-signor on one of their debts, they are going to be very concerned about read more

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