Cost of Bankruptcy Articles - Archive: 2008 Page 2

My wife is 7 months pregnant with our second child and about to go on Maternity leave. My wages are going to start being garnished next pay and we have no choice but to file jointly as we have 55000 total debts from credit cards and line of credit dept. My wife’s income and the [...]

how do i start a claim of bankruptcy? i have no credit rating and it is old debts and student loans where do i start? Posted from: Saskatchewan

If I were to work outside the country during my bankruptcy, would the threshold used to determine surplus income change? Posted from: Ontario

My husband went bankrupt and had a meeting with the trustees. They explained that his `surplus income` was high and we need to pay $1150. That `surplus` income does not take in account any of MY debt that I still have and therefore we really don`t have enough money to pay that. Do we have [...]

after receiving counselling going bancrupt was recommended. setup to pay 150.00 per month based on my income. now at the end they are telling me I have to pay 10,000 in surplus income. I am a single mother of 3 children working fulltimetrying to make ends meet. It was hard enough to pay the 150.00 [...]

In reference to a recent question concerning extensions of the discharge period.. you said this is quite common when the surplus is high. What is considered a high surplus today? Posted from: Ontario

I have been informed that the Trustee fee is approx $1500. If and when I file for bankruptcy, how do I pay the trustee each month. 1) Do I have to send him/her a cheque each month or is there direct WEB-BANKING that I can use to send the monthly $$. Also, what method do [...]

I understand that if I file for bankruptcy in say sept, the taxes on my disability income, LTD and CPPD (tax not deducted), will be figured for the year and I would be only responsible for the 3 months after my filing. My question is whether the tax payable is evenly divided over 12 months? [...]

In Ontario, what is the fee that a trustee can charge you for the services he provides. I heard its approx $1700 Also, can this fee be paid in full at the start or does it have to be distributed during the 9 months that I would be in bankruptcy ? ps. My wife would [...]

I find your site very helpfull, and I feel more comfortable making the decision to see a trustee. The one thing that bothers me is that it seems that the more money a trustee can get out of you or things they can seize, the more money they make. How can they advise you in [...]