Bankruptcy Articles - Archive: May 2009 Page 2

What about the Income surplus reporting? If one person files for bankruptcy before wedding (as a single income person) and couple of months later gets married, the income is no longer as single person but as a family. Does it mean that now he/she will need to pay Income surplus for the reminder of the [...]

I am planning on going bankrupt but not for a few months. I have not paid my creditors for 2 months and it will probobly be another month before I officially file. When can a creditor garnish your wages? Do they have to tell you first or can they just go straight to your employers? [...]

I filed for bankruptcy November 2008. My trustee set a monthly payment plan of $150.00 per month but my income sometimes varies, sometimes it is over and sometimes it is over what I was assessed at. Are the 9 months added together at the end and averaged out, so that the months that I over [...]

What if during during bankruptcy, I come into a lump sum of money from my work do to an incentive retirement package. How do I handle this money during this timeframe Posted from: Ontario

If I file for bankruptcy, how does this affect me as far as the income my common law spouse brings in? Is this calculated in surplus income? Is he included in the number of persons in the household? Posted from: Ontario

Our debt gets divided evenly. So what about our assets. My soon to be ex-husband sold our boat to his girlfriend whom he was/is living with, just so he wouldn`t lose it but still gets to keep it. This was done a week before he filed. The boat was not sold by the trustee. He [...]

During bankruptcy, I would like to start a new business that requires to invest some money into computer equipment. At present, I don`t have enough money to purchase it so I need to allocate some funds every month until I get a necessary amount to purchase it, and then it becomes a business expense. How [...]

Can a self-employed and undischarged bankrupt open a RRSP account? Posted from: British Columbia

I am toying with either a consumer proposal or filing bankruptcy. I am a single mother with 2 small children and cant afford a whole lot. It would be cheaper to go bankrupt but I am wondering what would happen if I were to ever start receiving back child support for my children if I [...]

I live in Ontario and I am filing bankruptcy next week. We have been trying to save some money to buy a used car and it doesn`t seem like we will have enough. I have been taking some cash advances out on my credit card to try and cover it. However, I am nervous as [...]