Archive for 2006

Is it possible to get 100% mortgage financing 18 mos after discharge, with closing costs added into the mortgage?
Any specific lenders who would accept in the GTA Ontario area?
Steady income of $30 000 for years, and plans to rent the basement apartment out.

We are extensively in debt following the closing of a failing retail business.
Our farm revenues are what is sustaining us through this difficult time - can we lose the assets of the farm if they are used to generate income - if we file bankruptcy??
Also - our farm truck - do we have the option […]

I understand when you go bankruptcy you must answers questions regarding disposal of assets within the last 5 years? What happens in regards to refiancing a home if it is over 1 year from the time 1 goes bankrupt? My concern is that selling a home is taking equity but so is refiancing?

can you explain how bankruptcy protection works??
I have no cash to pay off debt - but lots of equity - once assets are liquidated - debts will be taken care of - will bankruptcy protection buy us time in this case??
thanks

I am considering either a consumer proposal or a bankruptcy. I was bankrupt 10 years ago but now debt overload has affected our family once. again. The question I am asking if we do go bankrupt or prepare a consumer proposal what happens to the home renovations that I had done through a […]

I filed for bankruptcy in June 2006, and my income amount has not changed. In the beginning of December I received an application to apply for 2006 Ontario supplement for working families. I sent it into the minister of finance and a couple weeks later I rec’d a reply stating that they owed me Retroactive […]

What is summary administration as mentioned in one of the blogs - I couldn’t find it when I did a search.

Our bank account is frozen by a credit card company with the same bank. Are they allowed to freeze the account completely - as our pay is direct deposited and we use this account solely for mortgage, groceries, gas, insurance and taxes. We have no other source of income - and credit cards […]

We are closing a business due to financial losses - we are frequently obtaining advice from a trustee to be sure that we are following proper proceedure. Our cash flow is extreemely tight - but the liquidation of our assets will provide enough funds to pay our creditors. However - we are paying […]

I am recently seperated from a Common Law relationship and have agreed to pay the sum $1500 per month for 5 years to my common law partner of 13 years. I am finding it tough to pay all my bills and alimony. I live in Winnipeg and my take home pay after tax […]