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How are cell phone contract treated in a bankruptcy or a consumer proposal?
The CRTC this week (June 2013) passed new licensing requirements for the providers of Canada’s cell phone providers. Over the past year the CRTC sought feedback from individuals with respect to the common complaints and concers with the current terms of service within Canada. Based on this information the CRTC has developed a “Code of Conduct” for providers that will hopefully provide a framework that will:
- Meet the needs of Canadians
- Clarify the nature of the...[more]
How is “Surplus Income” Calculated and who sets the Family Guideline Amounts? Federally Regulated As the Bankruptcy and Insolvency Process in Canada is a federally regulated process under the (Bankruptcy and Insolvency Act) BIA, the Superintendent of Bankruptcy sets out the income amounts a bankrupt individual can keep on a monthly basis, before they are required to contribute to the bankruptcy estate. The Trustee is required under federal legislation to review the debtor’s monthly income and expenses on a monthly basis (or at the outset of filing a Consumer...[more]
What are the New rules governing Ontario debt settlement companies?
Should British Columbia take a lesson from Ontario when drafting new Debt Relief Issues for Consumer Debtors in BC?
In Summary, the new legislation in Ontario includes:
In Canada there are two main credit reporting agencies; Equifax and TransUnion Canada. They collect information from creditors on repayment histories and produce credit reports which new lenders can look into before offering you credit. Both agencies operate Canada wide, but how long consumer information can stay on your credit report differs from province to...[more]
The bankruptcy system is in place to help honest debtors out of an unfortunate situation. However there is potential for the system to be abused and as such the Bankruptcy and Insolvency Act sets out certain kinds of bankrupt misconduct in S. 173(1) (see a copy here: http://www.canlii.org/en/ca/laws/stat/rsc-1985-c-b-3/latest/ ). The most common forms of bankrupt misconduct are
- The bankrupt continued to trade or to borrow after realizing that he/she could not pay his/her...[more]
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