some questions
February 4th, 2009 by Questions
I am a sole proprietor having civil litigation judgement , unpaid GST AND OTHER TAXES.
It is impossible to pay the judgement.
The equity in the house is 3 times less then the judgement.
Also the house is in both my and my ex common in laws name.
We both have bad credit now.
Business has been closed .
Do the civil litigation judgement and taxes are included in bankruptcy?
Posted from: Ontario
One Response to “some questions”
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February 06, 2009 at 8:19 am, A licensed trustee said:
Yes, civil litigation amounts (judgments) and tax liabilites are included when you file for bankruptcy. In fact, it is easier to list the debts that are NOT included that it is to tell you what is…
Debts that are excluded from personal bankruptcy include:
– support obligations (and support arrears)
– debts incurred by fraud or misrepresentation
– restitution orders (as opposed to civil judgments)
– student loans if you have not been out of school for at least 7 years
To see the complete list have a look at Section 178 of the Bankruptcy and Insolvency Act.