Glossary
A quick reference for terminology and definitions
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It is important that you understand certain terms when you are considering options to deal with your financial difficulties. We therefore provide definitions for some common terms that you will encounter. Note that these are meant to give you a general explanation and may not be the exact legal definition of the term. For more detailed information, please contact us.
Terms
- Bankruptcy
- Budget
- Canadian Insolvency and Restructuring Professional
- Chartered Accountant
- Chartered Professional Accountant
- Collection Agency
- Consumer Debtor
- Consumer Proposal
- Court Judgment
- Creditor
- Debt Consolidation Loan
- Debtor
- Financial Counselling
- Insolvency
- Insolvent
- Interest
- Joint and Several Liability
- Licensed Insolvency Trustee
- Line of Credit
- Loan
- Mortgage
- Proposal
- Statement of Claim