Comments for Bankruptcy Canada Trustees Talk

Comment on Supreme Court Decision – Will it Lead to Changes in Bankruptcy Law in Canada by Anonymous

Anonymous — Thu, 21 Jul 2011 03:08:08 +0000

If a farmer is to give his partner half of the family farm you have put him into bankruptcy..This is his job.. his only income..In any other divorce settlement a partner can not take away a held job from a spouse..you not only have taken his job away but you have taken away his pension.. His pension is the farm ..How can a farmer live after that( at an age of ex. 54) how does the farmer start over at that age when farming is all they know. It takes years to build up a pension and a farm. .. This becomes harder to do as age comes upon you. In my opion assesets divided should be plenty and not the farm land as it is the farmers JOB.

Comment on New Bankruptcy Rules in Canada: The Bad News, and the Good News by John Farrugia

John Farrugia — Sat, 28 May 2011 13:51:08 +0000

My trustee has told me that I’m in arrears of $ 2700.00 dollars, dating back to April 18th, 2010.. I’m in my 14yh month of my 21 month bankruptcy.. We are going into mediation with the Superintendant of Trustees. My question is, would I have to pay all the money I have been told that I owe.. I;m now retired and single since Jan.2011.on a fixed income of $ 2400.00, monthly..

Comment on Surplus Income: How the New Rules Could Extend the Cost of your Bankruptcy in Canada by mariah

mariah — Sat, 23 Apr 2011 01:34:42 +0000

I am confused.
Does the spouse`s surplus income extend husband`s bankruptcy to 12 months.
If bankruptcy does not affect the spouse, why her income is reported every month to the trustee?

Comment on Why a House is NOT an investment by Analyst Analyzer

Analyst Analyzer — Tue, 19 Apr 2011 13:55:25 +0000

This is a great article. Everyone wants to call themselves home owners. The idea of being a renter makes people few like they are less successful.

If there is a price drop of 15 to 30%, I definitely want to buy too!

Comment on Why a House is NOT an investment by Laura

Laura — Sat, 16 Apr 2011 04:10:38 +0000

Yup! This article needs to be read by all kids in their early 20′s. Renting in today’s economy is the smart thing to do, specially if you can’t save a lot of money each month. Owning is so much more unpredictable and you need to have money stashed away for those unexpected expenses. Stay at home with the parents for as long as you can, then rent. If you are able to save at least 10-20 percent for a downpayment and still have an 8th month emergency fund, then consider buying. But Buyer Beware!!

Comment on Gift Cards are Worthless if the Store is Bankrupt by liza

liza — Tue, 12 Apr 2011 03:32:39 +0000

it is true, perhaps there’s a way that the government should do something about the law so that consumer can be protected , I heard from one of those store that staff were informed last minute as well

Comment on Gift Cards are Worthless if the Store is Bankrupt by Peter Leaney

Peter Leaney — Mon, 11 Apr 2011 14:26:33 +0000

As a long time customer of TABI, I find out now that the $750.00 Gift Card I gave my wife for Christmas 2010 is totally useless. Now that I am classified as a NON-SECURED account what steps do I take to get on the list for any possible claim? Please advise by return since my wife is really upset.
Thank-you

Comment on Gift Cards are Worthless if the Store is Bankrupt by NMacdonald

NMacdonald — Fri, 08 Apr 2011 17:59:38 +0000

The Smartest and safest gift card is one from your favourite shopping centre like Erin Mills Town centre. The cards are good at almost every store in the centre so you never have to worry and you are giving great choice to the person who gets one.

Comment on Household Debt in Canada at Record Levels by Doug Hoyes

Doug Hoyes — Sun, 27 Mar 2011 18:44:12 +0000

The ratio of household debt to disposable income is 148% (and increasing each month). Household debt includes all debt, including mortgages. I’m not saying that Canadians owe 50% more than they can pay in a year, because all debt does not become due in a year (a mortgage obviously lasts for many years).

I might earn $100,000 in a year; if my only debt is a $150,000 mortgage, I would have a debt to income ratio of 150%. Is that bad? Probably not, because on a $100,000 salary I can easily afford to make the payments on a $150,000 mortgage. Of course if I earn $10,000 per year and I’m carrying $15,000 in credit card debt I have a serious problem.

My point is this: our debt continues to increase. A few years ago the ratio was less than 100%, now it’s almost 150%. It’s the trend that’s scary, not the absolute numbers.

Comment on Household Debt in Canada at Record Levels by Dave a

Dave a — Sat, 19 Mar 2011 11:17:12 +0000

“if you earn $10,000 in disposable income per year, you are carrying almost $15,000 in debt. ”

what exactly are you trying to say with this statement Doug? are you saying that in this example the average Canadian owes 50% more than he can pay per year? I would like to understand by seeing a further breakdown of just what this household debt actually means with real numbers please.

Thanks in advance