If I am seperated from my spouse and paying an agreed upon amout of child support, how is that amount calculated or adjusted if I declare bankrupcy? In other words, is there a set amount of child support that is exempt per child? Is school tution included or eligable as an additional exemption? Posted from: [...]

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Are you thinking of filing bankruptcy but are not sure if that is the right choice in your situation? - Here is what you need to know, for start: Filing personal bankruptcy in Canada allows you to eliminate most debts, and get a fresh start. Once you file bankruptcy, collection calls and wage garnishments stop, and you can begin rebuilding your financial life.
For details on filing bankruptcy and bankruptcy process in Canada:
- read the answers to the most common personal bankruptcy in Canada questions (see below),
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- visit Bankruptcy Canada for answers to your specific questions on bankruptcy.
Most Frequently Asked Questions on Personal Bankruptcy in Canada:
- What is Personal Bankruptcy in Canada?
- What am I required to do while I am bankrupt?
- How Long Will I Be Bankrupt in Canada?
- What happens to my debts when I go bankrupt in Canada?
- Will tax debts and Revenue Canada debts be discharged in a bankruptcy in Canada?
- Does Filing for Bankruptcy Affect My Spouse?
- Who will know that I filed bankruptcy in Canada?
- What Are the Causes of Bankruptcy in Canada?
- How Many People Go bankrupt in Canada?
- What is the Bankruptcy and Insolvency Act?
- What is surplus income?
- Should I Feel Guilty If I Go Bankrupt?
To ask a question about bankruptcy in Canada:
- Post an anonymous question about bankruptcy to our blog.
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- Email your question to a bankruptcy trustee in your area.
You can also contact a trustee near you for a consultation: your first meeting will be free of charge or obligation.
The latest bankruptcy questions, with our experts' responses:
Is it OK to pay other loans from newly opened line of credit. This way I will consolidate all credit accounts to one line of credit account and later file bankruptcy or consumer proposal? Or it is against the law to take credit 3 /4 month before bankruptcy? Posted from: Ontario
can I declare bankruptcy if I have a lien on my house? Posted from: Ontario
We own a house together that we are not living in with 89,000 still owing on the mortgage. I have student loans, she has 3 credit cards and I have 1. We owe all together about 7,000 in credit card debt. What do we do? Posted from: Ontario
If I have co-signed for a Line of Credit and I declare backruptcy, what happens to the line. The LOC is for my landlord who needed renovation to the house in which I was staying, my payment to the LOC was considered rent, but never claimed by me or the ladlord as rent, the LOC [...]
If you claim personal bankruptcy in Ontario, does it go into the local newspaper? I’m worried friends and family may find out – very embarrassing. Posted from: Ontario
Hello; what happens if I walk away from my mortgage and house if there is enough equity in it to pay the bank in full as well as whatever fees there will be? If I simply dont’ have time to wait for all to be done. Can I do that? Thx Posted from: Ontario
I currently have 62,000 in unsecured debt. My surplus income owing would be approx. 2100 per month for 36 months which is 75600 after 3 years which is higher than my debt. Do I have any other options? I have been told a consumer proposal must be a better deal than bankruptcy. I cannot afford [...]
I am in bankruptcy yet one creditor phones me regularly several times a day. Are they allowed to do this? Posted from: Alberta
I took my name off an incorporated company in Jan 2012..it was having financial problems , and I had a feeling I was going to have to personally declare bankruptcy due to the fact that I lived off my savings for years, so I didn’t want it to hurt the company….should I get my previous [...]



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