What I Keep or Lose in Bankruptcy in Canada Articles - Archive: September 2009

I have a guitar amplifier valued at over $1000 that I need for paying band gigs. Because it is a tool that can provide income for me, would it still be taken away upon bankruptcy? Posted from: British Columbia

Who determines what your vehicle is worth? The kelly blue book says $4,000. is that good enough as I know that a lot would take off another 30%! Posted from: British Columbia

Okay, I am considering filing for bankruptcy but have a few questions. I am living with a man who declared bankruptcy 3 years ago because his ex-wife forced him into it after she filed and left her debt to him. Of course, this put all the onus on me for anything we purchased since. Everything [...]

I have $60,000 in personal debt which includes $20,000 for my vehicle. I also owe over $100,000 in tax debt for unfiled returns for the last 10 years. I have never missed a payment on my personal debt, not once and have excellent credit. However, I have never addressed the tax debt and know I [...]

Have a RESP for my two children. Lost my job and bankruptcy might have to be a option. Don`t have assets besides RRSP`s. I don`t want to declare bankruptcy but will I be punished if I use my children RESP to stay afloat. I understand I will lose the RESP anyways. Stuck on what to [...]

I have a GIC that is not mature until 2010 in the amount of 5200.00. I am considering bankruptcy since I lost my job and am no longer able to pay student loans. What happens if I cash in the GIC before filing for bankruptcy? Posted from: British Columbia