Money Management and Problems Articles - Archive: 2008 Page 2

Can you explain the repercussions of a lien being placed on ones home — the purpose of which is to collect on an unpaid credit card (Bank of Montreal/Mastercard)? For example, does this mean that the owner is forced to leave and that the house is sold by a third party OR does a lien [...]

My spouse is being sued by a creditor over some credit card debt. He and I are co-owners of our house. I don`t want his creditors slapping liens on the place so I`d like him to remove himself from the title. He`s OK with that. Is this do-able? In the US there is a process [...]

I expect to have a collection agency chasing after me in the near future. How long, on average, does it take in Ontario for a collection matter to get to court? Do these types of matters go through small claims court or the civil court and are they subject to the mandatory mediation process that [...]

i have a question. is it possible to make a consumer proposal where i pay the principle off in a 5 year period without paying interest. as i really do not care to file for bankruptcy. i just find myself behind the 8-ball financially at the moment and am about to be laid off from [...]

A judgment was issued against me for failing to appear in court. The judgment was extremely high, and because of it I was forced to go bankrupt. Now there seems to be questions about the legitimacy of the judgment, and a possibility that this judgment could be reversed. Because it was strictly the judgment that [...]

If I fail to appear in court over money owed to collectors, will I just automatically loose by default or will I be in contempt of court and have a warrant on my head? For those who are ordered to have their wages garnished, can`t they just quit their job after? Posted from: Ontario

My wife and I are joint owners of a house worth about $250,000. We own it outright so there are no mortgages or other encumbrances. I want to get a home equity line of credit to pay off some debts but my wife is opposed to this. Is it possible to get a HELOC that [...]

What`s the maximum wage garnishment in Ontario? What happens if a number of creditors are seeking wage garnishments? Do they all get a piece of whatever the maximum is or do they have to form a line? What does that court consider when determining the amount or percentage of a garnishment? Posted from: Ontario

My wife owes over $130,000 to CMHC due to a deficiency on a foreclosed property. The file is currently with a collection agency. What is the likelihood of CMHC pursuing this collection. It looks as though they have given up when they passed it on to a collection agency. I was told that they actually [...]

Usually, when you stop making your loan payment on a car loan that is through a bank, how long does it take before they repo the vehicle, do they call you first? Posted from: New Brunswick