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Recent anonymous questions and answers
Can I file for bankruptcy while on Long Term Disability? (5/4/2016) - I am on disability since the end of 2012. A couple of months ago I received a letter from Long Term Disability (LTD) to pay them back around $ 50,000.00. I am not able to pay this amount. I asked many different financial institutions to get a loan. But my request was declined everywhere because […]
Considering bankruptcy: minimum debt amount and income calculation (5/3/2016) - Looking to claim bankruptcy. However, I am now unemployed with no income coming in. My spouse is supporting the household. Is his income considered my income if I file? The debt is all my own, none of it is joint with my spouse. However, the amount is less than ten thousand – is there a […]
What happens to money received after a bankruptcy or consumer proposal? (5/2/2016) - If I were to file for bankruptcy, or a consumer proposal, in Quebec, and after a year or two I won a substantial amount of money, what would happen to these funds in a court case? Can I receive it without anyone being able to touch it? The money would be paid to me from […]
How Does Consumer Proposal Affect Families? (5/2/2016) - Families, like individuals and couples, have a wide range of expenses that draw on their financial resources. But for families with children, expenses are often larger and more varied than anticipated. Kids Can Be Expensive! Children are the proverbial “wild cards” when it comes to family spending. Parents are motivated to provide well for their […]
Power of Attorney and financial liability (4/29/2016) - I have Power of Attorney for a relative who recently entered a rehab facility for some years due to severe addiction. There are bank debts and credit card debt. Is it acceptable to negotiate with these debtors to pay a percentage of the debt rather than the full amount? With whom in the TD bank […]
Income property and Consumer Proposal (4/28/2016) - I have a question regarding a rental property and appliances inside it. If I were to file a consumer proposal and let the bank take back, my income property am I entitled to remove the machines before giving the property back? We are just curious because we’ve replaced almost everything in the last year and […]
Bankruptcy on mortgage with an ex spouse. (4/26/2016) - My ex. left me three years ago, and I have been paying the mortgage on my own, and he won’t resign the mortgage. I can’t pay the mortgage as it is a high-interest rollover and if I go bankrupt am I liable for any debt if he sold the house or goes bankrupt himself. We […]
Waiting for Trustee’s Discharge (4/25/2016) - After a person gets automatically discharged why do we have to wait for the Trustee to be discharged? I was discharged 2.5 years ago, and the Trustee office says they are waiting to be discharged. Also, in the meantime, the creditors could still take money from accounts. Is this normal?
Secured debt by someone else and bankruptcy (4/23/2016) - Wondering what happens if we file bankruptcy, and we have a secured line of credit with my mother in law? We have a $30000 line of credit that my mother in law secured with her savings, but we are faced with filing for bankruptcy and want to know what will happen to her and her […]
Self-Employed? Feeling a Pinch During Income Tax Season? (4/21/2016) - For individuals carrying substantial consumer debt, income tax season can be a blessing or a nightmare. Of course, it all depends on whether you are expecting a refund or a bill. I am self employed, and I experienced financial distress in 2009 and eventually filed a Consumer Proposal. Looking back, there were warning signs that […]