Owner: Bankruptcy Canada Blog URL:http://www.bankruptcy-canada.ca/bankruptcy/ Join Date: Tue, 30 Oct 2007 15:59:34 -0500 Rating:0 Site Description: Experts answer questions from the public about Bankruptcy, Student Loans, Credit Repair, Bankruptcy Alternatives, Money Management, and Consumer Proposals for Canadians.
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bankruptcy vrs consumer proposal 2008-03-13 03:12:57 With a combined $100,000 in credit card and line of credit debt. With less than $5000 in assets, is there any advantage in a consumer proposal over bankruptcy
?
another question 2008-03-12 21:13:49 my wife and i were discharged in july 2007.our trustee has told us that we cannot efile our tax returns this year and next year,and that our refunds if any will be sent to his office,does he have a legal right to these funds? our pre and post returns have allready been done.he has told [...]
trustee discharge 2008-03-12 20:51:26 Our trustee has informed us it is a government (cra) requirement to have our income tax returns and refunds (mine and my wife`s) be sent to him instead of us. He has told us that this will be so for the next two years after our discharge, which was July of 2007. Is this [...]
proposal 2008-03-12 20:20:11 My Husband and I owe about $50,000 on a credit line
We have a house, ( mortgage is with same bank as credit line—we don`t have mortgage insurance) a real estate agent says our house is only worth $79,000. We are paying on a mortgage of $89,000 over 27 years, mortgage renews in 3 & half [...]
Bankruptcy 2008-03-12 17:29:43 I am residing in US (green card holder) and I am a Canadian citizen. If I declare bankruptcy in the US does it mean I will be bankrupt in Canada as well? I don`t want to declare bankruptcy in Canada since I have money in RRSP and investments. Is it possible to declare bankrupt in [...]
Student Loans over 10 years 2008-03-12 17:06:34 I was last registered as a student in 1997. However, I had not taken out a student loan since 1993, which makes my student loan 15 years old. I am in all likelihood having to declare bankruptcy due to an illness from which I am on a long term disability and unable to [...] Read more:Student
, Loans
, Student Loans
Bankruptcy 2008-03-14 12:23:19 If your partner recently passed away, and has left you with small life insurance policy, but many debts, if you file bankruptcy for the deceased partner, can the money from the life insurance be taken
25% vote against 2008-03-14 10:36:12 I put forth a consumer Proposal. Its was rejected by a creditor who i owed(32%) the rest all voted in favor(68%). Now at the 1st creditor assembly what is the majority needed for the proposal to be accepted at this meeting.
Thanks Read more:against
everyone thinking of filing read this. 2008-03-19 00:13:14 I had a huge CRA debt and they garnished my pay check, seized my bank account and made my life miserable. I worried constantly for 3 years. The phone ringing scared me … I was terrified of the mailbox and I felt like I was going to fall into a huge hole of [...] Read more:everyone
, thinking
separation vs divorce 2008-03-18 20:44:59 I am separated from my ex husband but not divorce
d. He plans on filing for bankrupcy. Could the trustee seize some of my assets
TAX FILING 2008-03-18 18:30:58 CAN I EFILE MY TAX RETURN AFTER BEING RELEASED
What to expect 2008-03-18 14:36:58 I`m trying to get a start in life and even though I`ve been told to file bankruptcy, I`m scared and little embarassed about it. I would like to know what to expect when I file. I owe about $120,000 to various credit cards. The majority of it was taken out over the past 11 months [...]
Filed ..now what can I do? 2008-03-18 09:14:59 I filed for Bankruptcy this week. Other than a large Rev Can debt I am doing ok fiancially. My monthly payments are manageable and leave me with some disposable income. My questions is …. I want to start planning for my financial future by opening and RSP. Can [...]
Aborted Proposal 2008-03-18 05:02:13 A party owed me a large sum of money that was included in a consumer proposal. They did not fulfill the conditions of the proposal and it was annulled. I received a very small portion (from the trustee) of what I was supposed to receive from the proceeds that had been collected to [...] Read more:Proposal
saw a trustee 2008-03-17 20:51:05 I saw a trustee who saw all my financial record/situation and told me that based on my income I have no option but bankruptcy. He would take a certain amount of money from my paycheck for a year and my income tax should also be given him for one year, he said that [...]
cosigned loan? 2008-03-17 19:01:52 Our car just died and we need to get a new one - it`s not worth repairing ours. The interest rates we`re looking at are obviously very high post-bankruptcy and we just can`t afford it. My parents have agreed to cosign for us, in hopes of getting us a bit lower rate. [...]
income tax returns 2008-03-17 18:51:17 i declared bankruptcy in june 2006 the trustee filed our tax returns for that year and the refund went to them.will the 2007 return go to them as well and who will be filing the return.does it matter if one is discharged or not. i thought the trustee only filed for the year someone declares [...]
Surplus Income 2008-03-17 09:42:03 I reside in Ontario.
I currently have about $200,000 in debt which includes both CRA and CREDIT CARDS.
I would like to file for bankruptcy.
I am currently working and make about $60K/year.
My wife is also working and makes about $60K/year.
I am the only one filing for bankruptcy, in Ontario.
1) What do you estimate will be [...] Read more:Surplus
, Income
Joint assets in a bankruptcy? 2008-03-17 07:22:19 My husband and I have lived together for several years. We had about $4000 in household assets each when we moved in together. We have since received some furniture as gifts over the years. Are these gifts in his name, my name, or both? Can they be seized? Do they [...] Read more:Joint
, bankruptcy
Projected Income for Proposal? 2008-03-17 07:15:13 I would like to make a consumer proposal for all my debts. I understand my creditors will need to see a source of income.
I am currently unemployed, but hope to have a job soon. Would a trustee consider submitting a proposal based on what my income has averaged over the past [...] Read more:Proposal
, Income
mortgage 2008-03-17 02:11:57 hi my ex husband and myself have a mortgage that was foreclosed upon and we owe 20,000 if I file for bankruptcy will the debt be completely erased or will it be just my name coming off the mortgage
Can I keep yhis money? 2008-03-16 21:23:25 My spose in in bankruptcy, he is only aloud to bring home $3,300 per month until his bankruptcy is finished. I am recieving $5000 for back pay from family allowance. Can we keep it? The check is in my name. I am not in backruptcy.
EX-wife has gone bankrupt 2008-03-16 18:34:31 about last year, my ex and I got divorced. I heard she is going to file for bankruptcy this year. Years ago we got OSAP loan. I paid mine back totally but she couldn`t and now it seems she cant make it yet. Will that affect me in anyway?
Wife is bankrupt 2008-03-16 18:30:22 Hello,
I was wondering if my wife goes bankrupt on her student loan, will that affect my credit history? meaning, if years after her bankruptcy,if i apply for a mortgage for instance, will they turn my application down due to my wife`s bankruptcy?
Once I get discharged 2008-03-16 10:57:22 Once I get discharged, let`s say after the min 9 months, what kind of documentation do I get to validate/verify that I have been discharged of all the debt that I initially disclosed to my trustee ?
Who will supply/send me this discharge document ?
Will the document state the creditors and the amount that was owing [...]
change bankruptcy to perposal. 2008-03-16 04:48:50 my bankruptcy
was filed on march 14 2008. I want to change it to a consumer perposal on march 17 2008. Am I legally allowed to make this change?
Buying a Home AFter Bankruptcy 2008-03-15 07:10:14 I live in Ontario and I heard that the minimum required down payment of 25% after bankruptcy has been lowered to 20%. Is this correct? Read more:Buying
credit repair 2008-03-20 22:33:57 If a person has not had debt on all credit
that they were provided and if the company that issued the unused credit was not included in the bankruptcy, will that credit be usable after discharge?
broke 2008-03-20 17:07:10 can i bankrupt spousel support Read more:broke
house rent 2008-03-19 19:57:11 Hello,
After declaring bankruptcy, will my unpaid house rent will get discharged?
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