We are extensively in debt following the closing of a failing retail business. Our farm revenues are what is sustaining us through this difficult time – can we lose the assets of the farm if they are used to generate income – if we file bankruptcy?? Also – our farm truck – do we have […]
Declaring Bankruptcy in Canada
Are you thinking of declaring bankruptcy but are not sure if that is the right choice in your situation? – Here’s what you need to know, for starters: Filing personal bankruptcy in Canada allows you to eliminate most debts, and get a fresh start. Once you file bankruptcy, collection-calls and wage garnishments stop, and you can begin rebuilding your financial life.
Learn About the Bankruptcy Process & then Contact a Trustee
- What is personal bankruptcy in Canada?
- What am I required to do while I am bankrupt?
- How long will I be bankrupt in Canada?
- What happens to my debts when I go bankrupt in Canada?
- Will tax debts and Revenue Canada debts be discharged in a bankruptcy in Canada?
- Does filing for Bankruptcy affect my spouse?
- Who will know that I filed bankruptcy in Canada?
- What are the causes of bankruptcy in Canada?
- How many people go bankrupt in Canada?
- What is the Bankruptcy and Insolvency Act?
- What is surplus income?
- Should I feel guilty if I go bankrupt?
If you’re considering declaring bankruptcy we recommend you contact a trustee near you for a free consultation: your first meeting will be free of charge or obligation.
Most Recent ‘Bankruptcy’ Posts
I understand when you go bankruptcy you must answers questions regarding disposal of assets within the last 5 years? What happens in regards to refiancing a home if it is over 1 year from the time 1 goes bankrupt? My concern is that selling a home is taking equity but so is refiancing?
I am considering either a consumer proposal or a bankruptcy. I was bankrupt 10 years ago but now debt overload has affected our family once. again. The question I am asking if we do go bankrupt or prepare a consumer proposal what happens to the home renovations that I had done through a company in […]
I filed for bankruptcy in June 2006, and my income amount has not changed. In the beginning of December I received an application to apply for 2006 Ontario supplement for working families. I sent it into the minister of finance and a couple weeks later I rec’d a reply stating that they owed me Retroactive […]
December 28th, 2006 by Questions
Our bank account is frozen by a credit card company with the same bank. Are they allowed to freeze the account completely – as our pay is direct deposited and we use this account solely for mortgage, groceries, gas, insurance and taxes. We have no other source of income – and credit cards were torn […]
We are closing a business due to financial losses – we are frequently obtaining advice from a trustee to be sure that we are following proper proceedure. Our cash flow is extreemely tight – but the liquidation of our assets will provide enough funds to pay our creditors. However – we are paying secured creditors […]
I am recently seperated from a Common Law relationship and have agreed to pay the sum $1500 per month for 5 years to my common law partner of 13 years. I am finding it tough to pay all my bills and alimony. I live in Winnipeg and my take home pay after tax is $5800 […]
I am a person on a long-term medical disability plan, called OPSP in Ontario. I received a student loan in 96. I would like to declare bankrupcy. Could I perhaps apply for a forgiveness arrangement? The medical nature of my disability could be a reason. I don\’t want to simply Bankrupt if I don\’t need […]