Posts Tagged "Bankruptcy"
Bankruptcy Band-Aid
So what’s new in the exciting world of insolvency legislation? A whole lot, apparently. Attorney General Robert McClelland released the Bankruptcy Amendment Bill 2009. The bill proposes that a number of changes be made to the current laws surrounding bankruptcy. In an official press release, Mr. McClelland noted that the majority of bankruptcies related to consumer debts, and typically involved people with limited income and few assets. Supposedly, the new legislation is designed to make life a little easier for this segment of the population. A summary of the proposed changes is provided below: Debtors cannot be forced into bankruptcy over debts of $10,000.00 or...
Read MoreBankruptcy Warning Signs
Bankruptcy rarely happens overnight. In fact, there are several clear indications that a person might be headed for for financial strife. Are you headed for bankruptcy? Take a look at these 5 bankruptcy warning signs and see if any apply to you: Always Living Pay-To-Pay Many of our client’s incomes barely cover their monthly expenses. Sound familiar? Living pay-cheque to pay-cheque can lead to serious trouble if you are suddenly laid off or unable to work. Often the only way to pay the bills is to pay on credit, which then leaves less money for living expenses the following month. This scenario can create a cycle of debt, which may then lead to bankruptcy further...
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