Am I the only Canadian on the board? It'd be nice to have someone to discuss the contingencies of Canadian bankruptcy with - things seem so much simpler up here in terms of the law! Or maybe my trustee is just very reassuring and knowledgeable???
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While I am not in Canada - please remember the difference in social/financial/political issues between Canada and this country. Your government is more concerned about its citizens, while this country is more concerned about lining corporations' pockets. Just examine the 2005 changes in this country's bankruptcy laws - a complete gift to banks. -
magyar, I was watching the movie "Maxed Out" yesterday, and was horrified to see how interconnected the US government and the banking and credit industry are. Canada isn't innocent of this by any stretch, but I think we're less overt about it.
We only have one form of personal bankruptcy, and if all goes according to plan, I will be discharged on September 22/08. In Canada, there is a 9-month term from the date of filing to date of discharge, but of course there will be a notation on my credit report for 7 years after the fact. I will be (thankfully!) making the minimum payments during this period.Comment
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For further discussions' sake - how are your laws different? As you may have gathered from this board a lot of laws are also influenced by states' laws - exemptions, median wage, etc.
Do they vary between provinces - Ontario, Quebec, British Columbia, etc.Comment
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