What I Keep or Lose in Bankruptcy in Canada Articles - Archive: 2012

my parents are both working minimum wage jobs and own a condo that they are mortgaging. the car is a lease. they are having trouble making monthly payments for insurance, condo maintenance fees, car payments and mortgage. i work full time and i try to helpl them out. recently i decid to pay off their [...]

I have filed for bankrupcy for the second time in early december. Now after the fact, I find I am entitled to an inheritance. What will happen to this? Posted from: Nova Scotia

can i lose a property outside canada in a bankruptcy? Posted from: Quebec

I own a house in Alberta which is involved in a divorce (with nearly $300,000.00 of unencumbered equity) but my wife won’t agree to anything. The divorce has been going on for 2.5yrs already. I’ve been living in BC 2.5yrs as well. I can’t find work here and my credit cards are maxed out, I’m [...]

Assets were transferred to my common law spouse over 3 years ago and put in her name as a protection from any situation where I might be unrightly sued. how far back is financial asset history looked at, particularly with respect to asset transfers? Posted from: Alberta

is inheritance exempted Posted from: Ontario

hello, my question is how being married can affect personal bankruptcy. for example. the house we live in is in my wifes name alone , and does have equity. i personally have lost my job and cannot afford credit cards. if i declare bankruptcy will it affect our ( her ) property. ? thanks Posted [...]

My husband and myself were self-employed and had to give up the business due to illness. We are now on income assistance waiting to collect disability. We both have credit card debt and bank overdrafts. We don’t have tax debt. I had been gifted 4% interest 3 years ago in my mothers house which I [...]

I consulted a trustee and expressed a profound concern that my current car, which is 10 yrs old and in very bad shape would not pass the new inspection laws in 2012. But that by being in bankruptcy, I could never get a loan for a new car. Without a car, I could lose shared [...]

My husband and I will need to declare banruptcy. We both own vehicles that have a combined value of $5000.00. I use my car to communte to and from work. My husband does not work due to disability. He uses his vehicle to go to medical appointments. Would we be required to give up one [...]