Money Management and Problems Articles - Archive: 2011

My spouse and I have a joint bank account we have historically used to deposit our paycheques and pay bills. The only debt to this bank is a line of credit that is well secured against the house that is in my wife’s names. Due to some business difficulties, I will likely have to go [...]

I am in an Orderly Payment of Debt program but have lost some of my source of income.My budget is so tight I can’t pay the OPD monthly payments is full. Can I apply for a debt settlement program whereby O would pay .10 – .50 on the dollar? My situation is ever more stressful [...]

I am currently on sick leave from work, and I work for a financial instituition. I am considering going into bankruptcy, and I am wondering if I will still be able to return to work, or will they want me to continue with them. Posted from: Ontario

I lost my job a couple of years ago and got into serious debt. I missed many payments on my mortgage, they began to foreclose. I managed to get a second mortgage to help save my house but lost my car and trailer. I have very poor credit. I am not in arrears and caught [...]

Hello there, My husband and I borrowed money on our credit lines to invest with a “trusted” investor who promised to give us back the principal and whatever interest he had made in one year. Since we had excellent credit and thus great promotional rates on our credit lines, we gave him $60,000 to invest. [...]

I have been living in Canada for 5 years as a refugee, i have always had a good job and my credit was being built. I had a 5000 line of credit, 500 overdraft and other credit cards. 3 years ago i was asked to leave Canada, leaving an lump some of debts. Befor i [...]

If payment arrangements made and accepted by creditor are honoured can they at some point decide that arrangement no longer is acceptable and start wage assignment process? Posted from: Ontario

wHAT DOES CMHC DO WITH HOMES AFTER THEY PAY BANKS Posted from: Nova Scotia

I understand that upon filing bankruptcy one’s income can only be $1800 for a couple. We are pensioners with pension of $1600 monthly formeand $800 formy wife. .How much can I earn besides that as I have a part-timejob. I’m 81. Should Iconsider filing formyselfonly in order to fall under $$ guidelines? Posted from: Alberta

I am under bankruptcy, and submit a monthly surplus income statement to my trustee. I will be recieving Child Support payments soon. Do I include the Child Support payments as income in the Surplus Income Statement?? Posted from: Ontario