Consumer bankruptcy in Canada

Consumer bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act ("BIA"). The legislation is complemented by regulations, as well as directives from the Office of the Superintendent of Bankruptcy that provide guidelines to trustees in bankruptcy on various aspects of the BIA. == Consumer basic concepts == For the purposes of the BIA, it is important to be able to distinguish between legal definition of "insolvent person" and one of "bankrupt".

Source: Wikipedia — Consumer bankruptcy in Canada (CC BY-SA 4.0)

Consumer bankruptcy in Canada

Consumer bankruptcy in Canada is governed by the Bankruptcy and Insolvency Act ("BIA"). The legislation is complemented by regulations, as well as directives from the Office of the Superintendent of Bankruptcy that provide guidelines to trustees in bankruptcy on various aspects of the BIA. == Consumer basic concepts == For the purposes of the BIA, it is important to be able to distinguish between legal definition of "insolvent person" and one of "bankrupt".

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Source: Wikipedia "Consumer bankruptcy in Canada" · CC BY-SA 4.0

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