Glossary - Debt and Consumer Rights
all-in price advertising
All-in price advertising means that dealers cannot add additional fees on top of an advertised price. Exceptions that dealers can charge are HST, licensing fees, or fees for options that you ask for.
assets
Assets, sometimes called property, are money and anything you own that has value and can be exchanged for money. This can include cars, jewelry, land, and investments such as an RRSP or a pension plan. Assets can be used or sold to pay debts that you owe.
automatic discharge
An automatic discharge ends the bankruptcy process. It happens when you’re released from most of your unsecured debts without having to go to court.
When someone is bankrupt for the first time, the discharge could happen as early as 9 months after you file for bankruptcy.
