Bankruptcy Articles - Archive: 2007

If I were to follow all of the rules as outlined by the trustee concerning the bankruptcy process, would I be protected under the law such as FIPP to not have my employer and /or landlord advised and/or contacted for any kind of information specific to the bankruptcy? Or by declaring bankruptcy do I automatically [...]

Good day. I have a secured car loan with 24 month term remaining. Unfortunately, I will be filing for a consumer proposal or bankruptcy in 2008 as my overall debts are becoming unbearable. My car is worth about $6000 but it`s very reliable and I would like to keep it. Would other creditors consider it [...]

Please clarifi the number of years allowed after the sale of a home, to apply for protection ?

Hi there. In 2006, I purchased my wife`s engagement ring & wedding band on a credit for approx $2,000. I had paid off the card but have over extended on my credit again. My overall debt is becoming unmanageable and I am contemplating bankruptcy. I know one question a trustee asks is `Have you given [...]

I`m in a bad debt problem in Canada, need to go Bankrupt, will never be able to pay such high debt due too bad building project. The power of sale is complete, the sale was only 75% of equity value, but there`s still a large mortage debt, your talking more than a million dollars. Investors [...]

i am the sole shareholder of a pasive alberta corporation, this company is the sole shareholder of three other corporations(Ontario, Manitoba, and Federal). What would a trustee do if i filed personal bankruptcy?

i owe about 55,000 in consumer debt (credit cards and LoC`s, and another 20,000 in personal loans from family etc. Im may 06 i suffered from a back injury at work, however wcb and finalized that i am not eligible, for one reason or another, and sunlife says its a wcb claim not a DI. [...]

How will it effect my repayment amount if I make alot less than at the time of filing.

Hello. I have a secured car loan with RBC for $10,000, with $6,000 owing. I realize in most cases that a bankruptcy will not affect a secured loan since the bank already has a lien registered. I also have $20,000 line of credit owing to the same bank,. My question is if it`s possible for [...]

I received a conditional discharge for a first time personal bankruptcy, but I did not meet the conditions for an absolute discharge as of yet. The trustee has been discharged as 3 years has lapsed since my initial filing for bankruptcy. My questions are: 1) can I still receive an absolute discharge if I fulfil [...]