What I Keep or Lose in Bankruptcy in Canada Articles - Archive: 2011

What happens to the proceeds of life insurance if the bankrupt person dies before the 9 months is up Posted from: Alberta

If I declare personal bankruptcy, can my common law let me use her credit cards? Posted from: Ontario

If I were to claim bankruptcy for about $15,000 worth of debt would I lose my house? Posted from: Manitoba

If I am recently married but have a marriage contract that stipulates no involvement with my partners money, and I have significant debt, can I declare bankruptcy without negatively affecting my spouse. I should clarify that my spouse owns a house and is in healthy financial position. Posted from: Ontario

my husband and I are joint tenants of our matrimonial home. I may need to consider filing for bankruptcy due to a large CRA tax assessment which I may not be able to pay. If I declare bankruptcy, will I be forced to sell my share of the matrimonial home? Posted from: Ontario

My only vehicle is worth about $7K and I believe that the Ontario vehicle bankruptcy exemption is $5,650. I have no other assets or no surplus income. When I go bankrupt can I pay the trustee the $1,350 difference over time so I can retain the vehicle? If this is the only money the trustee [...]

For a family owned cottage, if one family member declares bankrupcy, does their legally owned share of the cottage become available to the creditors, if so, how does it work? Posted from: Ontario

I live in Alberta but own property in B.C. The property is clear title but is owned jointly with my soon to be ex spouse. what would happen in such a situation like this if I were to file personal bankruptcy. Posted from: Alberta

We bought a house that is going to foreclose because we cannot afford to pay for it and it is unliveable. We have racked up debt trying to take care of the problem on our own this past year and now can hardly afford to buy food so we have to stop our mortgage payments. [...]

If I receive a piece of land from my parents, can it be taken from me in bankruptcy? Posted from: Nova Scotia