Are there any debts that cannot be included in the bankruptcy or consumer proposal?
Certain kinds of debts (including interest) are not erased. These include:
- Fines, penalty, restitution order imposed by the court;
- Debts incurred by misrepresentation or fraud;
- Alimony or maintenance payments;
- Debt for damages imposed by Civil Court for intentional bodily harm, sexual assault or wrongful death;
- Student loans (if consumer proposal / bankruptcy occurs within seven (7) years of ceasing full or part-time studies);
As a Licensed Insolvency Trustee, DEVLETIAN & ASSOCIATES INC. is available to guide you through difficult financial times and can advise you of those debts that are not discharged by either a bankruptcy or consumer proposal. Please contact us for your free consultation.