Archive for 2005 Page 2

Not knowing the new changes in the bankruptcy act, should declaration be made in 2005 (this week) or in the new year? Which is better for the debtor?

We are concerened of the possibility of having to declare bankruptcy,we have about $8,000 left in RRSP’s. Should we cash these before we declare.

In a personal bankruptcy, if there is an amount owing to CRA, is that amount treated the same as other debt (ie. credit card debt, mortgage)?

I filed a consumer proposal almost three years ago. The payment portion will be completed in September. I understand that I then have to go through a “3 year clearance period”. Once I get in to this clearance period will my credit rating be improved enough so that I can purchase a house? My wife [...]

My wife and I were granted absolute discharge from personal bankruptcy in 1998. Since then we re-established our credit, the bankruptcy was deleted from our Credit Report, and we bought a residential property. Recently we applied to a bank to re-finance our morgage. Our application was approved subject to approval from CHMC/GENWORTH to ensure the [...]

I am bankrupt and now am at the end of my 9 month term. Due to some confusion, I did not attend my 2 counselling sessions. I also was giving the impression I could hand in my monthly report and fees at the end of my term all at once. Now an emergency arose where [...]

If I recently bought a few kitchen appliances, with my credit card, can I still keep them after I declare bankruptcy? Need to cook and eat.

I am 70 years old and have 30,000 in credit card debt . I have no money in the bank ,don’t own a home or car and my only possessions are a few pieces of furniture in my apartment . My income is from old age pension and the additional supplement . My creditors have [...]

My wife owes $30,000 in student loans. I owe around $65,000 (line of credits, credit card and student loans). She only co-signed me for one line of credit that I owe on $18,000. So combined we owe over $75,000, but individually each of us owes less than $75,000! Is the consumer proposal limit of $75,000 [...]

I have a 97 Aerostar dealer financed. I owe $9,000. on it It is worth less than that. Does the dealer automatically take it back when I file for bankruptcy or can I keep the car and continue payments. Assuming it goes back to the dealer is there any way I can purchase a car [...]