Personal Bankruptcy Canada Blog

RESP-Consumer Proposal

Mon, 08 Feb 2010 14:35:35 +0000

Are RESP`s for the children affected from a Consumer Proposal? Are they taken? I know they are liquidated in a personal bankruptcy, but what about a CP? Posted from: Ontario

end of study date

Sun, 07 Feb 2010 18:36:00 +0000

How to determine the end of study date for the purpose of bankruptcy? I received OSAP funding while doing my undergrad until April 2000, when I received my Bsc. A few years later I attended medical school abroad from 2003 until April 2004 but did not receive any OSAP funding during this period. I did [...]

Can they take your house if you file bankruptcy?

Sun, 07 Feb 2010 17:00:44 +0000

I unfortunately am looking at bankruptcy as an option. I was told if you remortgage your house at any time they can take your house away. My question is can they take your house if you file bankruptcy? And what if you could still make the payments on the house only? Posted from: Alberta

Surplus Payments Tax Deductible?

Sun, 07 Feb 2010 13:28:22 +0000

Are there any provisions that would allow claiming any portions of surplus income re-payment as tax deductions? Posted from: Ontario

Will filing a consumer proposal affect my business

Sun, 07 Feb 2010 00:24:52 +0000

I have a business, it is incorporated, if I file a proposal for my personal debt will it affect my business or my business bank accounts, I own this business with my spouse Posted from: Ontario

propsals

Sat, 06 Feb 2010 15:04:46 +0000

i had a propsal approx 3 yrs ago now i am in debt again are you able to do a propsal again? Posted from: Ontario

2nd time around

Fri, 05 Feb 2010 15:27:36 +0000

my husband filed for bankrupcy in 2003 due to large tax debt, he has now gotten himself in the same trouble . How hard is it to file a second time and is it the best solution as his debt is over 70,000 and he is a trades man an it would take 3 years [...]

Is an overdraft considered part of a consumer proposal?

Fri, 05 Feb 2010 00:00:40 +0000

will a bank overdraft on my bank account be apart of my consumer proposal??? Posted from: Ontario

Will the filing of a consumer proposal affect my husbands credit?

Wed, 03 Feb 2010 18:33:16 +0000

i have about 19000 in unsecure debt and I recently got married will doing a consumer proposal affect his credit ? Posted from: New Brunswick

I don’t want to claim bankruptcy, what other options do I have?

Wed, 03 Feb 2010 14:07:11 +0000

I have an unsecured loan with high interest that I am haveing trouble paying,they won`t work with me, and just keep saying they are going to sue me,what is my alternative. I don`t want to claim bankrupt. Posted from: Ontario

Keeping Job after filing for bankruptcy

Tue, 02 Feb 2010 05:18:43 +0000

I work for a bank as sales broker will i loose my job and broker license if i file for bankruptcy because my job requirement when some one apply is R1 credit rating. Does the creditors contact and will tell my bank i am bankrupt R9 rating - i do not have any credit [...]

Fees for trustees

Mon, 01 Feb 2010 18:11:09 +0000

Hello, I have been reading all the questions and am a little confused as to the fees. I`ve read that… `The prepartion fee is $1,500 and then your trustee will receive 20% of any money distributed to your creditors`. With the 20% issue, wouldn`t the trustee want to make me pay back as close to 100% as [...]

Realtor in Bankruptcy

Mon, 01 Feb 2010 17:46:17 +0000

Hello, I want to know if you`ve had this type of situation and how it can be dealt with. I am a Real Estate Agent and I am considering bankruptcy. I wanted to know if lets say 5 months into it I all of a sudden start getting a bunch of deals and I know [...]

inheritance after bankruptcy

Sun, 31 Jan 2010 21:50:32 +0000

I was discharged in aug 2007. I diclosed that I may get an inheritance in the future as my Mother had passed away several months earlier. now couple year later this may be the case..the trustee was awhere of this and my discharge was absolute..what do I do if I see this inheritance…its not enough [...]

Marriage while bankrupt

Fri, 29 Jan 2010 13:21:06 +0000

If a person gets married during their bankruptcy how does this effect their allowable income? Also is there any effect on their new spouse who had no part in the previous debt and does not benefit from any part of the bankrupt`s income? Posted from: Alberta

garnishment of wages

Thu, 28 Jan 2010 16:57:31 +0000

the government has put a garnishment on my wages, if i get a consumer proposal will this garnishment stop? also does the government usually accept consumer proposals? Posted from: Ontario

employer travel

Thu, 28 Jan 2010 00:49:20 +0000

this is my 2nd bankruptcy. My employer wants me to go to conferences in the USA will I able to travel to the USA or will I have to explain my personal financial situation to my employer Posted from: Ontario

Tax File

Wed, 27 Jan 2010 06:39:55 +0000

I understand that a bankrupt loses their tax refund for the year that they file for bankruptcy, but what happens in the following year if they are still in the bankruptcy stage? For example, I filed for bankruptcy in Jan of 2009 and will lose my refund when my trustee files my taxes for 2008. But [...]

proposal

Tue, 26 Jan 2010 18:39:10 +0000

I have talked to a firm concerning a proposal but they did not mention anything about creditors accepting partial settlements. They basically stretched the full amounts out over 55 months. I retire in 2 1/2 years and at that time I would not be able to meet the proposed repayments. Am I [...]

Tax Refunds

Tue, 26 Jan 2010 04:02:22 +0000

I understand that a bankrupt loses their tax refund for the year that they file for bankruptcy, but what happens in the following year if they are still in the bankruptcy stage? For example, I filed for bankruptcy in June of 2009 and will lose my tax refund (if I have one) when my trustee files [...]

Can this debt be included in bankruptcy?

Mon, 25 Jan 2010 08:49:35 +0000

I owe a lot of money to a personal friend that had me sign a demand letter. Unfortunately I did not win my law suit and I need to claim bankruptcy, will personal debt be included? Posted from: Ontario

debt settlement vrs consumer proposal?

Mon, 25 Jan 2010 00:58:12 +0000

would a debt settlement be better then a consumer proposal. how do i locate a debt arbritator?? Posted from: Ontario

CPP Disability Payment

Sun, 24 Jan 2010 21:22:27 +0000

I`ve been accepted for a CPP Disability. They are giving me a back pay of $10 thousand. Will I lose this to my creditors?? I`ve already declared bankruptcy 5 months ago. Posted from: Ontario

Surplus Income Frustration

Fri, 22 Jan 2010 22:22:43 +0000

Is there any indication that the new September 18 rules on Surplus income might be changed in light of the economic fiasco? Here`s why I ask. My husband lost his job and the savings were depleted on a reno project that we were doing for a rental property. Following this we were unable to [...]

Another income tax refund question

Thu, 21 Jan 2010 23:34:32 +0000

What would happen to an income tax refund cheque, if I file my income tax return for the present year and subsequently file for bankruptcy, before the refund cheque arrives. Posted from: British Columbia

Minimum Payments

Thu, 21 Jan 2010 18:01:57 +0000

If I am currently paying my minimum payments but really struggling can I still apply for bankrupcy or do I need to stop paying the minimum payments first. Posted from: Ontario

Child tax and rebates

Thu, 21 Jan 2010 01:39:17 +0000

Does my child tax Benefit have to be claimed as an income and my husband who is also bankrupt just got a rebate cheque for energy savings in our home.Do we have to claim this aswell or does it belong to us??? Thanks Posted from: Ontario

Where to report bankruptcy fraud?

Thu, 21 Jan 2010 01:20:47 +0000

I know someone who filed for personal bankruptcy and failed to disclose brokerage account with stocks worth over $20.000 That person knows that trustee has no way to find that account, so I would like to inform the appropriate person..Who would that be? Thanks Posted from: Ontario

Surplus Income

Wed, 20 Jan 2010 17:07:36 +0000

Can you please advise what the deducted amount is for a single mom with one child who doesn`t receive any additonal child support from the ex. Is it still $1875 or would the child will also have an additional deduction amount. I make approxi $2600 take home pay each month. Trying to [...]

inheritance

Wed, 20 Jan 2010 13:56:43 +0000

I am curious….if the person died prior to the beneficiary filing bankruptcy, and the inheritance is not received until after this person is discharged from bankruptcy, do they get to keep their inheritance? Posted from: Ontario

continual phonecalls 2 months after bankruptcy has been filed

Wed, 20 Jan 2010 01:30:42 +0000

One of the 5 major banks continues to call with a recorded announcement 2-5 time daily. My trustee has assured me that the bank has been informed and has the package. The trustee has also told me that they have called this particular bank. I need to know the actual law that I can quote [...]

Unsettled estate and bankruptcy

Mon, 18 Jan 2010 05:52:55 +0000

If I am expecting money from an estate that hasn`t been settled (the person died over a year ago), and I now declare bankruptcy, will I lose that money? Posted from: British Columbia

Surplus Income vs Proposal

Thu, 14 Jan 2010 15:23:57 +0000

My income is derived from commissions: How are the #`s calculated in terms of surplus income or consumer proposal amounts when my income can fluctuate from $0 to $20k in a month? Posted from: Ontario

Garnisheeing of wages

Thu, 14 Jan 2010 04:36:46 +0000

If a proposal is annulled and the debts are reinstated, can the creditors garnishee your wages? Posted from: Alberta

CMHC

Wed, 13 Jan 2010 14:07:09 +0000

What if you can not afford the amount that still may be owed after the bank has sold the property and the bank has filed with CMHC for an insurance payout? Does CMHC base the money owed according to your income, assets, etc instead of having to pay the whole amount? Posted from: British Columbia

What is the impact of filing Bankruptcy and Tax Refunds?

Tue, 12 Jan 2010 18:19:21 +0000

What if you received a tax refund in the same year you file for Bankruptcy. Say you received a refund in April and you filed Bankruptcy in June of the same year. How would that be dealt with? Posted from: Ontario

Verkerke

Sun, 10 Jan 2010 12:36:20 +0000

We filed Jan 16 2009, our tax return was returned to the trustee. we were discharged oct 2009. We recieved a letter saying we need to give our T-4`s to the trustee again for them to file and keep the return. We were never told we needed to give up two years returns. Do we need [...]

Secured credit card

Fri, 08 Jan 2010 19:50:52 +0000

I am currently in bankruptcy. Am I able to apply for either a secured or pre-paid credit card while still in bankruptcy? Posted from: Ontario

is a consumer proposal or bankruptcy

Fri, 08 Jan 2010 08:10:27 +0000

if i am the sole director of a franchise in that there is no personal stuff used as security but i am personally poor from unsecured credit cards $250000 does the franchise become part of the personall bankruptcy or does the franchise stand on its own.could i go personally bankrupt and keep the franchise [...]

Can I keep my house?

Thu, 07 Jan 2010 07:00:57 +0000

We recently obtained a new mortgage on our home in June 09 but because of plummeting real estate values, the lender refused to include our debt consolidation with the mortgage as originally planned. Not enough equity in the house. We lost more than $25,000 in equity in just 6 months, and it has nothing to [...]

dept

Thu, 07 Jan 2010 04:15:53 +0000

would a dept that has been on your credit for more them six years still show as outstanding dept. Posted from: Alberta

Death + Bankruptcy

Thu, 07 Jan 2010 04:12:29 +0000

I did my mom`s finances recently after my dad`s death. Between her and the joint accounts between them, she now would have about $53000 in debt, a minimum payment of just a touch over $1500 a month on a $1100/month income. This doesn`t include bills and such. The house was between me and my dad, so [...]

WHO`S RESPONSIBLE >??

Thu, 07 Jan 2010 03:36:12 +0000

If i claim bankruptcy, and i have a credit card with another name on it , will that person be responsible for paying it o.?even tho he is not responsible forthe dept..ALSO WILL I BE ABLE TO KEEP MY CAR ?? Posted from: Newfoundland and Labrador

Mortgage Renewal while in Consumer Proposal

Wed, 06 Jan 2010 21:21:41 +0000

My mortgage is up for renewal in 13months and i have been paying my cp for 1 year now. I`m wondering if my bank will chose not to renew my mortgage now that i am in cp. Most of the money i owed was to the same place that i have my [...]

car with 1 1/2 years payments left to own, can we keep it.

Wed, 06 Jan 2010 20:40:37 +0000

Hi, we have a chrysler neon with 110k that has about a year and a half left of payments. The bank the payments come out of is part of my bankrupcy claim because of line of credit and credit card. Can the car be claimed under bankrupcy or if we have to keep [...]

Please Help

Wed, 06 Jan 2010 19:01:39 +0000

I have been in bankruptcy for 5 years, but my circumstances have changed due to a major creditor dropping their claim in full. Now I`m able to pay my remaining creditors 100% on the dollar, through a `reverse mortgage` on my home. My trustee says that over the past 5 years he wants $15,000 from [...]

defaulting on a mortgage after bankruptcy

Wed, 06 Jan 2010 17:32:33 +0000

Hello. We had to declare bankruptcy in August of 2008. We protected the house and our vehicle at the time to keep them. Since then I have been unable to find work and my unemployment insurance is running out soon. As a result we will be unable to make our mortgage [...]

owe money on mortgage after sale of home

Wed, 06 Jan 2010 17:19:52 +0000

My husband has been transfered to the u.s for a job. The company will buy our home for the appraised value, but unfortunately in our city this value is very low due to the economy. We will still owe close to 70,000$ on our mortgage after the company buys the home. We [...]

Business Down 70%

Wed, 06 Jan 2010 15:07:06 +0000

My credit has built up excellent after 2 personal bankruptcy? I started a business and its put me in a terrible situation. I have credit cards and a business line of credit. Would I be allowed to go bankrupt again if I needed to and would it be business and personal? If so at what [...]

swimming in debt

Wed, 06 Jan 2010 14:47:09 +0000

I am thinking of claiming bankruptcy, I am 65000.00 in debt in unsecured loan, credit cards and line of credit. I dont want to lose my house in the process as i just got it in 08. I havent been able to make some of my payments on the unsecured debt and i have creditors [...]

Bankruptcy

Tue, 05 Jan 2010 23:48:47 +0000

My family is supporting me after I lost my job which means I have no income. I have got debts and a court order from one of the creditors to garnish my wages or seize my assets. I don`t have any assets or a job and this court order is pending. If I go on [...]

how does a bancruptcy work in my situation

Tue, 05 Jan 2010 19:37:16 +0000

how does a bancruptcy work in my situation….my husband and i are not legally seperated, but i am at a point that i have not choice but to go bankrupt….his name has been put on the deed for his mothers house…when i mentioned about bankruptcy he said he has to take his name off his [...]

lein on my house

Tue, 05 Jan 2010 15:00:58 +0000

My ex wife has a lein on our property from the cra. I want to buy the property from her, but want to know if he lein will stay on the property? Posted from: Ontario

Filing Bankruptcy,

Tue, 05 Jan 2010 07:45:46 +0000

I am going to be filing for bankruptcy early next month. I realize you lose everything that is worth something. ex: RRSP`s inheritance, vehicles that are worth more then $5000.00 etc… My question is, when you declair bankruptcy, what is it you lose during your bankrupcty…. I think I understand I will not [...]

Consumer Proposal Inquiry

Tue, 05 Jan 2010 02:18:57 +0000

I am indebted to a bank in the amount of $27K. If through the help of a Consumer Proposal by a trustee, it will be arranged that I pay half- about $13.5K, how much will I have to pay my trustee?? Posted from: Ontario

Student Loans

Mon, 04 Jan 2010 21:53:12 +0000

I have OSAP in the amount of about $60,000. I am planning to file bankruptcy in September 2010. My student loans will be 7 years old in May 2011. I will be in Bankruptcy for about 9 months so I will be discharged in June 2011, provided there is no opposition. Can my student loans [...]

change of assets

Mon, 04 Jan 2010 19:43:36 +0000

I was just looking at my paper work for my consumer proposal i filed a year ago and have noticed that some of my assets have changed. will this effect me in any way? Posted from: Alberta

Ms. Waine

Mon, 04 Jan 2010 18:36:34 +0000

Would autism medications and mental therapy for autistic childrn be considered a non-discretionary expenses and would this reduce the net monthly income for the surplus income calculation. I really appreciate any assitance you could provide. Posted from: Ontario

House Fire

Mon, 04 Jan 2010 14:54:50 +0000

I just lost my house due to a fire, I had no insurance due to it being cancelled as my furnace was old and I was saving for a new one. I cannot afford to rebuild out of pocket. Is bankruptcy an option? Posted from: Ontario

Filing Taxes After bankruptcy

Mon, 04 Jan 2010 05:58:04 +0000

Hi, I filed for bankruptcy in July 2008 and was discharged in April 2009. My trustee filed my tax return for 2008 both pre and post bankruptcy. For my 2009 income tax, will I need to file another paper return or can I go back to e-filing? Posted from: Ontario

What constitutues the tax year in bankruptcy?

Mon, 04 Jan 2010 03:06:52 +0000

I`m a little confused on the tax and GST issue. I filed in April of 2009 and my trustee has extended my bankruptcy by another six months because I have surplus income. Everything I read says you lose your tax refund for the year you declare bankruptcy. Does this mean 2009 only [...]

Vehicle loan ?

Mon, 04 Jan 2010 00:02:44 +0000

Hi, I have a vehicle that I owe more on the loan for it than the actual vehicle. My parent co-signed for the loan. I simply cannot afford the vehicle anymore and am considering having it repossessed. I have heard that in bc there is a seize or sue policy. In either one of these [...]

Student Loans and Bankruptcy

Sun, 03 Jan 2010 19:34:36 +0000

If I declare bankruptcy while still attending university, do my student loans still remain interest free until I finish university? Posted from: Alberta

Can I make a living as a self-employed person after bankruptcy?

Sat, 02 Jan 2010 15:02:51 +0000

Is it possible to be a sole proprietor of a registered small business after bankruptcy? I am presently a self-employed artisan. Do I have to close my business and if so, how long will it be before I can begin again? Posted from: Nova Scotia

House on wheels

Sat, 02 Jan 2010 07:52:29 +0000

Im looking at purchasing a camperised bus for $2000 dollars from a friend due to my work its a really good solution to my trying to rent where ever im working,so it will be my house,can i still own my daily driver also,we are looking at rent to own situation,thanks even how odd this may [...]

Varible Income

Sat, 02 Jan 2010 07:44:41 +0000

Hello ill be going to work for two months will make lot more money than i normally do,do you base my income on a yearly basis,im in my second bankruptcy.When would i have to pay the extra is needed. Posted from: Alberta

Using my RRSP to pay off debt?

Sat, 02 Jan 2010 01:57:44 +0000

I`m trying to get my debt down and heard something about if you use your RRSP`s to pay off your debt, you can`t go bankrupt too. Is this true? I really don`t want to go bankrupt and am trying to do everything I can to avoid it. Suggestions?? Posted from: Ontario

Will spouse files will I lose my home?

Fri, 01 Jan 2010 16:24:26 +0000

How will my mortgage be affected if I am joint with my spouse and they wish to file a consumer proposal? Will the bank be able to close our mortgage, or can I be forced to sell my home? Posted from: Alberta

Consumer proposal for wife only

Fri, 01 Jan 2010 16:15:43 +0000

My husband and I have accumulated approx $70,000.00 in debt! Due to circumstances he is on WSIB and I collect CPP disability. I want to know if I can do a consumer proposal for the debt that is in my name only? That would be approx $30,000.00, but I am also included on one joint [...]

ms

Fri, 01 Jan 2010 11:20:54 +0000

Im a mother of 3 and umemployed. currently supporting my kids with their child tax benefit cheques. I just wondering if i can still file for bankrupcy? Posted from: British Columbia

consumer proposal concerns

Fri, 01 Jan 2010 02:07:45 +0000

I am filing for a consumer proposal this week. part of my debts is my house that i gave back to the bank, and the bank haven`t sold the house yet. I am just wondering if this is gonna be a problem for my proposal being accepted since the house is not sold yet? [...]

HUGE DEBT

Thu, 31 Dec 2009 17:44:45 +0000

My husband and I have about 140 k in debt. We had managed to pay minimum payment plus more, but now I really feel strangled. I work nearly 80 hrs a week and I am worned out and see no improvement in debt going lower. What should I do? Can I file bankrupcy even if [...]

Inheritance after a year

Thu, 31 Dec 2009 15:48:29 +0000

Can I keep my inheritance if I receive it after a year of bankruptcy? Posted from: Ontario

Windfall

Thu, 31 Dec 2009 06:23:53 +0000

I am bankrupt, and have not been discharged, 4 months to go, and recently heard that a distant relative, may have left something to me. I am not even sure if i am in the will or know when and how much i possibly could receive. If i was to receive anything that is less [...]

lein on property

Thu, 31 Dec 2009 01:48:03 +0000

i am a single parent with 19 month old son and have a paid off house. owe $40000 in debt and they are now trying to get lein on my house. how long can the lein last Posted from: Ontario

assets and bankruptcy

Wed, 30 Dec 2009 21:38:42 +0000

My wife`s parents included her name on a property they purchased strictly as a right of survivor scenario.My wife and i are close to declaring bankruptcy.Would this property come in as an asset ?Would there be any repercussions if her name was removed before she and i declared bankruptcy? Posted from: Saskatchewan

garnisment

Wed, 30 Dec 2009 15:45:29 +0000

does a garnishment of my wages or bank account affect my credit rating? Posted from: Alberta

CW

Wed, 30 Dec 2009 15:39:08 +0000

If a consumer proposal is not accepted - can it be resubmitted should you find a way to increase it slightly? Posted from: Ontario

pst & gst

Wed, 30 Dec 2009 05:24:04 +0000

I am considering declaring bankruptcy on my company. How does the government handle any outstanding monies owed to these agencies? Posted from: Ontario

Past expenses

Wed, 30 Dec 2009 02:21:02 +0000

I am looking to go bankrupt in the coming month.. I lost my job in November and have been living off my savings (which are almost wiped out) and credit cards… I purchased a laptop in September 2009 on credit. I just sold it last month to make my car payments and keep it up [...]

co-signed for a loan and now it is in default

Wed, 30 Dec 2009 01:17:35 +0000

My husband co-signed for a loan for a trailer that is now 2 months in default. I know that this is currently affecting his credit rating. My questions are; 1) Do we have a legal right to try and sell this thing before it destroys his credit? and 2) If not, and [...]

lorri fraser

Tue, 29 Dec 2009 03:04:04 +0000

my husband and i are seperated, and still own a house together. he is filing for bankruptcy, and i am not. how does this affect me and the mortgage payments? Posted from: Ontario

407 Bill

Mon, 28 Dec 2009 15:24:39 +0000

I`m considering bankruptcy and I`d like to know if my 407 ETR bills would be forgiven if I declare bankruptcy. Thank you. Posted from: Ontario

pension transfers

Mon, 28 Dec 2009 13:29:11 +0000

After being laid off from an auto assembly job, I transferred pension moneys from the company`s plan to a locked in money market fund at an insurance company. I was told that the money was locked until I turned 55 or under a hardship claim I could take out a portion of this pension money. My question [...]

Winning money?

Mon, 28 Dec 2009 07:37:19 +0000

My parent are in bankruptcy and have gotten what I think is a conditional discharge. After the 9 months they were told they have to pay $8000 and then they would be discharged. During the 9 months they seperated. My mom got a lotto ticket for xmas and won a bunch of [...]

tax fraud

Sun, 27 Dec 2009 19:00:59 +0000

im being audited by revenue canada and ei for fraud. if any penalties will i be able to put that on my bankrupcy or will i have to pay fine and interest Posted from: Ontario

after a consumer proposal

Sun, 27 Dec 2009 17:13:57 +0000

We are 2 months into a consumer proposal and now have some company shares with my husband`s employer that we can cash. The only brokerage we can use is a bank that is one of our creditors, can we use them to cash the shares or would they be able to take the money? Posted [...]

Start bankruptcy in BC, move to NB?

Fri, 25 Dec 2009 21:37:00 +0000

I will have to file for bankruptcy early in the New year. I`m also thinking of moving back to NB, early spring or so, as it is much cheaper to live there than here. Is that something that can be done while going through a bankruptcy.. or does one have to remain in the province [...]

propery sale/ bankruptcy

Thu, 24 Dec 2009 21:26:24 +0000

my sister sold a modest 1/4 undivided interest in an inhereited vacation property 9 months ago and due to medical and other reasons has no funds left and is unable to meet her payment of $1200 per month on loans and credit cards and may have to declare bankruptcy… . She doesnt understand [...]

Ahmad

Thu, 24 Dec 2009 17:48:39 +0000

Do people lose their professional licences in Consumer Proposal situations. Posted from: Ontario

gwn

Thu, 24 Dec 2009 16:28:46 +0000

While I am undischarged, if my spouse passes away is the life insurance, to which I am sole beneficiary, subject to dispursement by the trustee? Posted from: Ontario

When to tell creditors about proposal

Thu, 24 Dec 2009 14:36:13 +0000

Hello. I am filing a CP. I have a creditor that has been quite agressively calling seeking payment. Should I simply tell them that I am in the process of a proposal? Is there any risk to my proposal negotiations by telling my creditors `too soon`, if there is such a [...]

Tax refund during bankruptcy

Thu, 24 Dec 2009 13:11:13 +0000

I understand that tax refund is lost in the year of bankruptcy. What about if previous taxes were already collected, do we have to pay it back Posted from: Ontario

Banktrupcy

Wed, 23 Dec 2009 22:38:34 +0000

i went bankrupt 11 months ago and i recently received an audit for the three previous years. Will i still have to pay? Posted from: Quebec

How much can I keep to live on

Wed, 23 Dec 2009 22:21:27 +0000

I`ve been living on such a lean budget the past year trying to stay on top of my loan and credit card payments that I don`t even know what it would realistically cost me to live. Especially considering most of the money paid on line of credit and credit cards ends up paying for groceries [...]

morgage into bankruptcy

Tue, 22 Dec 2009 22:07:53 +0000

i do NOT want to keep my home. It IS the problem of my debt. how do i include my home (it has no equity) into my bankruptcy. Or how do i get out of my morgage??? Posted from: British Columbia

porting during bankruptcy

Tue, 22 Dec 2009 14:58:49 +0000

can i port my mortgage during a bankruptcy to downsize my home and get into a lower mortgage and to pay off my bankruptcy Posted from: Ontario

GST Credit During Bankruptcy

Tue, 22 Dec 2009 03:33:33 +0000

I filed for 3 years of income tax 06-08 all at once before I went bankrupt July 09. I am in bankruptcy now $140 a month till may 10. I checked my canada revenue agency site it said a check for 1302 was issued to trustee i understand that. Will that 1302 be used towards [...]

cra debt

Tue, 22 Dec 2009 01:23:59 +0000

I was self employed from 99 to 2006 in which I incurred a large debt from a cra payroll audit done in 2003, over the years the debt with intrest and penalties is now $130 000, I have been employed for the past three years and my salary is $80 000/yr. I have approx. $100 [...]

I have a lot of questions

Mon, 21 Dec 2009 20:26:40 +0000

I am thinking of filing for bankruptcy but I would like to know - What happens with my taxes? If I file for bankruptcy in January of 2010, and get a refund, does that get kept by the trustee? Also - what if I end up owing taxes? Do I still pay if I`ve filed for [...]

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