About The Author
Victor Fong, CMA, CIRP is licensed Trustee in Bankruptcy and Chartered Insolvency and Restructuring Professional with several years of experience in all facets of insolvency, both personal and business. Victor currently focuses on bankruptcies, formal proposals and restructuring for consumer debtors. He also devotes considerable energies to debtor rehabilitation through credit and budget counselling.
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Avoiding bankruptcy – Debt Management Plan & Consumer Proposals
Posted on August 25, 2011 | No CommentsI am often asked what is the best debt counselling service available to someone who wishes to get out of debt without going bankrupt. The answer to this question depends... -
Why are American debt managment firms coming to Canada?
Posted on July 27, 2011 | No CommentsYou may have noticed a recent proliferation of telemarketing calls, TV ads and radio ads from “non-profit” debt management/debt counselling companies in the Greater Toronto Area. Almost all of these... -
Applying for a Home Trust Secured VISA to Rebuild Your Credit
Posted on December 21, 2010 | No CommentsOnce a debtor has been discharged from bankruptcy, she can obtain a secured credit card to start rebuilding her credit. Contrary to popular belief, a debtor who has been discharged... -
Government Debt Settlement Program Explained
Posted on December 18, 2010 | No CommentsFong and Partners Inc. is licensed by Industry Canada (license number 1815) Your debts can be settled for as little 35% of what you owe – simply, quickly and legally.... -
Filing Personal Bankruptcy in Ontario
Posted on December 17, 2010 | No CommentsThe only distinction between provinces on how filing bankruptcy affects you is with respect to what assets you can keep. In Ontario, the main statutes that govern what assets are... -
Filing Personal Bankruptcy in Canada
Posted on December 17, 2010 | No CommentsThe bankruptcy process in Canada is governed by a federal statue called the Bankruptcy and Insolvency Act (“BIA”). Under the BIA, the major steps in the bankruptcy process are: Meet... -
Keeping RRSPs When Filing Bankruptcy
Posted on December 13, 2010 | No CommentsThere are 2 types of RRSPs: (1) RRSPs set up with a life insurance company; and (2) RRSPs set up anywhere else, like with a bank or mutual fund company.... -
Keeping a Car When Filing Bankruptcy
Posted on December 13, 2010 | No Comments“Can I keep my car when filing for personal bankruptcy?”. This is a common question and the answer depends on the circumstances… If a car is owned outright by a... -
Keeping a Home When Filing Bankruptcy
Posted on December 13, 2010 | No CommentsOne of the questions we’re most often asked is: “can I keep my home if I file for personal bankruptcy?” The answer to this question depends on your situation.There are... -
Toronto Bankruptcy Court – When is Attendance Necessary?
Posted on December 12, 2010 | No CommentsGenerally speaking, someone who files bankruptcy for the first or second time will get what is called an automatic discharge from bankruptcy. Years ago (pre-1992), someone that filed bankruptcy had...