Bankruptcy Articles - Archive: August 2009

I currently owe $80,000 in credit card debt and my wife and I are exploring bankruptcy as an option. My car is leased and coming due in 6 months. If I am in a bankruptcy proceeding and I cash in my RRSP to buy a car, are the proceeds considered surplus income? Posted from: Ontario

My wife and I separated over a year ago. Since then I have moved out of the province. Gave her everything. I paid off all bills incurred during the marriage, except the mortgage which she took over. She is now claiming bankruptcy… over a year and half later. Am I still responsible and will have [...]

I am on disability in Ontario and have been for over 7yrs. I went through a separation from my spouse 2yrs ago and am unable to keep up with my debt. I only owe about $7500 to credit card and $1500 to overdraft through my bank. Because Disability over paid me, they are garnishing some [...]

if sombody co-signs for my house and after that person files bankruptcy im i affected Posted from: Ontario

We were incorporated and are no longer in business. The main shareholder became ill with cancer and was unable to do any work (the main person). The remaining shareholder (estimator / office guy) could not do the work we lost all businees and employee`s We owe GST 30,000 dollars and are no longer financially able [...]

I lease a truck (commercial 5 ton) and due to injury I haven`t been able to drive it or make payments for 3 months. Can I go bankrupt as an owner/operator small business seperate from all of my other personal debts or do I have to go fully bankrupt to deal with the truck issue. [...]

How old do you have to be before you can claim bankruptcy? There is a $14,000 settlement against me and I`am 17 years old. The judgement is in place for 20 years. Can I file for bankruptcy? Posted from: Nova Scotia

my husband and i will need to file for bankruptcy as we can not keep up with payments any more. how much cash are we allowed to keep in order to help pay for living allowances? Posted from: Ontario

I owe the government. If I file for bankruptcy does that also take effect or do I still have to pay this? Posted from: British Columbia

I recently attended an intial assessment consultation with a local trustee (Halifax, NS) and was told that because I have a surplus income ($1125 biweekly net income) I would be required to stay in bankruptcy 21 months even under the current norms in the industry (before the new upcoming changes). Is this in fact the [...]