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A Person in Toronto Asks -Should I Go Bankrupt?

Posted on Jul 6, 2018 in Advice from Richard, Bankruptcy, Consumer Proposals, Credit, Debt, Finances, Videos |

In this video, Richard Killen, a Licensed Insolvency Trustee with offices across Toronto answers the question. I don’t know how many times I have been asked by somebody during the course of the free consultation we provide to consumers at the beginning. What do you think, should I go bankrupt? My answer is always the same for people. Its not up to me to tell you to go bankrupt. Bankruptcy is a personal decision. What might work for one person,...

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What happens to my tax refund in a bankruptcy or consumer proposal in Brampton?

Posted on Jul 3, 2018 in Advice from Richard, Bankruptcy, Consumer Proposals, Credit, Debt, Finances, Videos |

In this video, Richard Killen, a Licensed Insolvency Trustee with offices in Durham region (Pickering & Oshawa) talks about whether a person’s income tax debt can be included in a personal bankruptcy in Ontario. Something that comes as a big surprise to a lot of people is when they find out an income tax debt, an ordinary income tax debt is something that is dischargeable in a bankruptcy or can be taken care of in a consumer proposal. The...

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Can I Include Income Tax Debt In My Bankruptcy in Durham, Ontario?

Posted on Jun 30, 2018 in Advice from Richard, Bankruptcy, Debt, Finances, Videos |

In this video, Richard Killen, a Licensed Insolvency Trustee with offices in Durham region (Pickering & Oshawa) talks about whether a person’s income tax debt can be included in a personal bankruptcy in Ontario. Something that comes as a big surprise to a lot of people is when they find out an income tax debt, an ordinary income tax debt is something that is dischargeable in a bankruptcy or can be taken care of in a consumer proposal. The...

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What is the minimum debt required to Declare Bankruptcy in Scarborough Ontario?

Posted on Jun 27, 2018 in Advice from Richard, Bankruptcy, Debt, Videos |

In this video, Richard Killen, a Scarborough Ontario based Licensed Insolvency Trustee talks about the minimum requirements for personal bankruptcy in Ontario. I often am asked by people in Scarborough, what is the minimum debt before I can declare bankruptcy? Many people feel that if they do not owe that much, perhaps its too low to get a trustee involved. Legally, whether it is in Scarborough or anywhere else in Ontario, the minimum you must...

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Can I Cancel My Personal Bankruptcy in Toronto, Ontario?

Posted on Jun 14, 2018 in Bankruptcy, Debt, Finances, Videos |

 Sometimes I get asked by people who have recently filed personal bankruptcy whether or not they can cancel their personal bankruptcy in Ontario. Perhaps they have changed their mind and are wondering if their bankruptcy can be canceled? The short answer is no, the bankruptcy cannot be canceled once it’s filed in the courts and the federal government has issued a number. It’s an official legal process and it’s not going to...

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In Toronto Are My Spouse’s Assets Affected By My Bankruptcy?

Posted on Apr 27, 2018 in Bankruptcy, Videos |

In this video, Richard Killen, a Toronto-based Licensed Insolvency Trustee talks about, the effect of your bankruptcy or your wife or husband’s assets. I am often asked is “Are my wife’s or husband’s assets be affected in any way?” Generally speaking, the way bankruptcy works, the answer is no. Your bankruptcy will not affect your spouse.  If an asset is not commonly owned or jointly owned by both you and your spouse, then their assets are not...

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