Bankruptcy Articles - Archive: October 2005

These are very stressful times for my wife and me as we are expecting second child but the problem is that we are already in a serious debts (75,000). We are still able to pay our cards and lines of credits (minimum monthly payments) but I’m afraid that soon we won’t be able to pay, [...]

Hi, i was discharged from bankruptcy 4 months ago. My mortgage is up for renewal in a little under 3 years. At that time i will have almost 25% paid off. My concern is that my lender will force me to take a higher rate knowing that my past will limit me in shopping around.Is [...]

I have been in a debt management program for two years . I have approx 3 years to go. Based on my income I pay 1200 a month. I had 60,000 in debt and now have paid approx 20,000. For the past 5 years I have been working 7 days a week /12hr days.I work [...]

I have read quite a few of the questions and think this is a great site . I am having a financial crisis .When a question is answered in the blog they are short but very informative.I understand it is difficult to comment on situations that you do not have the facts. Usually the advice [...]

I am retired and I live on pension income. My financial situation has been slowly worsening in the past years .In all likelyhood I will need to declare bankruptcy in the next 12 months . I have several larger credit card bills (approx 10,000) and several smaller ones (1,000). I am holding my own at [...]

I have enough debt to be considering proposal or bankruptcy. Owe outstanding $2500 to local daycare, a continuing service required to allow my income to continue. If I file proposal or bankruptcy (and stop significant interim payments to other unsecured debt with institutional creditors), am I allowed to pay the daycare outstanding in the mean-time? [...]

I feel awful and totally irresponsible-I first declared bankruptcy 5 years ago due to some incorrect advice from my accountant and I owed revenue canada about $40,000-I am a very small business and am self employed with 2 employees. I have now run into trouble -again-with revenue Canada due to some very unexpected health issues [...]

I was unaware that a supplemental card I have made me repsonsible for the entire debt . The application states the primary card holder is responsible for any debt incurred by the supplemental card holder. I assumed this meant I wouldn’t be if the card was in default. I just signed the card when it [...]

My husband and I are considering contacting a trustee about filing a consumer proposal. We owe over $55,000. How common is if for creditors to turn down a consumer proposal? And what are our options if that happens? Thanks for your time.

I have recently applied for disbility through C.P.P and will receive a large back payment of benefits.Will I have to report this to the trustee if I file for bankruptsy as I have not worked for some time or will it affect my filing.