Money Management and Problems Articles - Archive: September 2007

i do not have any debt thru creditors , my problem is with cra i recently had a reassesment. me federal tax is $7.000 but with penalties and so on they want $37.000 thousand dolars what am i suppose to do.im very stressed out and dont know what to do my accountant said i should [...]

Hi, my wife whom i am separated from but am still in the process of working on getting back together has claimed bankcruptcy for monies she borrowed in her name alone. There is though a $20 000.00 line of credit in which we both signed for about 6 years ago. We used the money and [...]

I was defauded out of $8900.00 and has put me into a tight situation. Is there any way to absolve this from my banking institution?

How much information regarding a corporate entity wholly owned by a bankrupt is to be provided to the trustee, and is assigning the shares of a corporate entity common, where it is a separate legal entity?

What does the term `Technically insolvent` really mean? The simple answer goes like `when liabilities exceed assets`. How do we value assets that are not readily convertible to cash? Like ownership of shares in a private corporation? How do we value liabilities whose cash value we don`t have a handle on? Like a lease agreement [...]

Hi I stop doing more payment to my mortgage I’m one month past due payment I’m not answering any phone call and I think I’ll fill bankruptcy what the next step for the bank are they will send me letter notice give 35 days to leave or what they will do please and thanks for [...]

Canadian citizen, living in the U.S., has several credit card and bank debt in Canada. If he/she stop making the the minimum payment for those debts, what will be the consequences? Can the creditor garnish wages in the U.S. if he/she works in the U.S. Please advice

Are there rules laid out for creditors that they must follow when attempting to collect debts? Are they allowed to make repeated phone calls to one\’s place of business? Thanks.

I am considering filing a consumer proposal. I am unemployed, but my husband is willing to enter into a third party agreement to pay the proposal. My concern is this, if the proposal is not accepted, am I automatically forced into bankruptcy?…or can I just continue to not answer the phone?

I have stopped using all credit and making payments for 4 months – I have lost a 6 figure job – as well – CRA has aduited me for years 04/05 – The audit took place May 3/07 – They have all my doc\’s and I have heard nothing from them – currently I owe [...]