If you're considering filing a consumer proposal, you've probably wondered what's involved. After all, the consumer proposal is a legal document in which the debtor will pay back creditors in a reduced amount over a period of time. It's a great way for consumers to get back on their feet, but beware of common mistakes. Here are some tips...

Before you hire a bankruptcy trustee, make sure to research what he or she must have. Most trustees must have a college degree (majoring in law or accounting will help), and they must be bonded. The bond money protects the bankruptcy estate and ensures the trustee follows bankruptcy laws. If the trustee fails to comply with the terms of...

Filing for personal bankruptcy is a complex process that involves a few key steps. First, the debtor must attend counseling sessions. The debtor must have a total of two sessions with a qualified counsellor, who will provide advice on money management and warning signs of insolvency. These sessions will also help the debtor learn more on how to...