https://padlet.com/conor_cannon/7tgz3jz6ar44 What is Bankruptcy? en-us 2017-04-04 02:59:10 UTC 2023-05-14 12:11:03 UTC hello@padlet.com conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512775 This article explains everything you need to know about bankruptcy within Canada, from what you will lose to what you will gain. In the article they say how filing personal bankruptcy in Canada means the forfeit of almost all of your available assets to absolve your dept. Not all dept will be removed through bankruptcy such as a car loan or a mortgage. Something interesting is the fact that 333 people filed for bankruptcy every day in Canada in 2015, this number seems very high for what bankruptcy is. ]]> 2017-04-04 02:59:51 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512775 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512785 This website from "dummies" talks about possible solutions in order to avoid bankruptcy. These solutions include: make a budget in order to control your personal finances and spending, seek help from family and friends but only if they are willing and have the finances to help you, and sell your assets before you lose them to the bank anyway. This article is interesting because of how obvious some of these solutions seem but people are only looking to change their habits once things have already gone too far.]]> 2017-04-04 02:59:57 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512785 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512795 This video is a quick overview of the different laws associated with filing personal bankruptcy.In the video he talks about what bankruptcy can and cannot do for you. Bankruptcy will allow you to get rid most of your dept, stop foreclosure on your home, give a chance to catch up in payments, stop the repossession of your other property such as a car. Bankruptcy however will not save you from; going into dept in the future (something has to change), dept singled out such as child support or student loans. Something interesting from this video is the fact that filing for bankruptcy can stay on your credit for up to ten years which is a very long time and will most definitely hurt the person involved. ]]> 2017-04-04 03:00:07 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512795 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512807 This video is all about what would happen if an entire country ended up filing for bankruptcy. The video explains how a country filing for bankruptcy is much different than an individual doing the same and is much more of a free for all. The video uses the bankruptcy of Argentina as an example where they were able to stabilize due to help from other countries and reformed spending plans. Iceland is also used an example where they are able to pull themselves out of the verge of bankruptcy through the use of international loans in order to bail there citizens out of dept. This video was interesting because you never really think that a country can allow itself to go so far into dept that it has nothing left.]]> 2017-04-04 03:00:13 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512807 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512821 This image is of an adult looking extremely stressed out. This represents how filing for bankruptcy is seen as a last option for most people and would weigh heavily on your shoulders for many months or years.]]> 2017-04-04 03:00:20 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512821 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512828 This image is of a piggy bank, that is used for spare cash, being broken but empty. This represents how someone who is filing for bankruptcy has well and truly used up everything they have.]]> 2017-04-04 03:00:26 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164512828 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164515649 Conor Cannon - 100587340]]> 2017-04-04 03:40:19 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164515649 conor_cannon https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164516439 2017-04-04 03:53:14 UTC https://padlet.com/conor_cannon/7tgz3jz6ar44/wish/164516439