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A liability is a debt or a loan amount that a person or company has to pay.

A bankruptcy represents the state of a person or company that filed a voluntary assignment or against which a bankruptcy order was made.

A bankrupt is a person who has been declared bankrupt.

A trustee is a professional licensed by Industry Canada and regulated by the Office of the Superintendent of Bankruptcy and the Canadian Association of Insolvency and Restructuring Professionals. The licensed trustee in insolvency and restructuring advisors is responsible for administering the records governed by the

The Superintendent of Bankruptcy is a senior official who supervises the administration of estates and matters governed by the Bankruptcy and Insolvency Act.

A credit counselling organization offers a range of services to people in financial difficulties, including individual meetings and advice to find the best strategy for repayment of their debts through a debt management program. The amount of fees and the proficiency of advisors of these

It is an organization established for social and educational purposes, created to promote fair, transparent and efficient debt management or financial restructuring. Besides counselling services, a non-profit credit counselling agency provides training sessions to help people make responsible decisions about their debt management.
The amount of

A mortgage (hypothec in Quebec) is the right of a creditor to one or more assets of a debtor. This right guarantees the payment of a debt, so that, in case of nonpayment, the proceeds from the sale of such assets are handed over to