Bankruptcy in Guelph: The Ted Michalos Bankruptcy Guelph Blog

How Many People Went Bankrupt in Guelph Last Year?

In 2007, 301 residents of Guelph filed personal bankruptcy, an increase of 13% from the 267 people who filed in Guelph in 2006. In addition, a further 115 Guelph residents filed a consumer proposal, an increase of 5% from 2006.

This dramatic increase in the number of consumer proposals and bankruptcy filings in Guelph
follows four years [...]

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Guelph Bankruptcy Trustee Testifies in Ottawa – Part 2

Last week I described our testimony before the Senate Banking Committee on student loans and bankruptcy in Guelph. The second part of our oral testimony dealt with our perceptions of how the Canada Revenue Agency may deal with the changes proposed to the Bankruptcy & Insolvency Act.

We noted that there is going to be an [...]

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Guelph Bankruptcy Trustee Testifies in Ottawa – Part 1

On February 6, 2008, Douglas Hoyes and Ted Michalos (that’s me in the picture) traveled to Ottawa in order to provide testimony to the Senate Standing Committee on Banking, Trade and Commerce regarding bankruptcy reform. I was the only Guelph personal bankruptcy trustee that has appeared as a witness before the Committee.
Last fall, the Parliament [...]

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What is a consumer proposal in Guelph?

Here are some short answers to that question:

It’s a way to repay your unsecured debts
It’s a legal procedure that provides you protection from collection agents and wage garnishees
It’s an alternative to bankruptcy for people that are in financial trouble
It’s a procedure that many people can benefit from (if they only knew it existed!)

Here’s the long [...]

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