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After Bankruptcy: Answers to Questions

Most Recent ‘After Bankruptcy’ Posts

loans

hi there my question is i have went bankrupt 2 years again at that time i owed a relative money and said should i tell the bankrupt person and they said to forget about what i owe them but now they are trying to get money from me from then. what can i do? thanks […]

Timing of Cashing of RRSPs

I am declaring bankruptcy. I am currently on welfare and soon to go on disability. I am told I am allowed to keep for myself up to $500 of a RRSP I have by the welfare people. The rest they would want. I have been told by financial folk if I cash the RRSP before […]

Tax benefits will put me over surplus income

Hi, I recently had a baby and have not applied for the Canada Child Tax Benefit because my income would be over the threshold if I receive it. Am I obligated to collect this money? It would mean that I would be in bankruptcy for the extended period. Can I just apply after my bankruptcy […]

susie

I declared bankrupty in june 2009 and was discharged in aug 2010, my taxes we done by my trustee for the period stated for my bankruptcy. I went to do my taxes for this year and they wouldnt allow me to. they said that my trustee had to file it. Does this mean that if […]

bankruptcy and surplus income

I will have to pay surplus income payments based on my net monthly salary. Is is possible to have more income tax taken off my paycheck each month to reduce my surplus income? What happens to the income tax I would recieve back next year if I am discharged before I recieve back that tax […]

Severance Pay After Filing for Bankruptcy

Suppose I file for bankruptcy and have to wait 21 months for discharge due to surplus income, and one year after filing, receive a substantial severance from an employer. How will that money be treated in a bankruptcy? Posted from: Ontario

Rasp withdrawals

If you withdraw money from an rrsp during bankruptcy is it considered income and do you have to pay half of it to the trustee? Posted from: Nova Scotia

7 years

here is a question i can’t even get accountants to answer…why is a bankruptcy on your records for 7 years after the bankruptcy is stayed? .. i am guessing this is the time at which the rate of second bankruptcies falls to almost zero..am i right or is this some unfair arbitrary number? Posted from: […]

“all the right things” after bankruptcy

We were discharged in ’07 and immediately started working on repairing our credit. We each got secured credit cards. My husband got a car loan (by necessity – another baby on the way meant we had no choice but to get a new-to-us vehicle) which we have been paying on for the last 30 months […]

What Can I expect??

Hi there I did not get discharged from bankrupcy two and a half years ago. I had some money still owing to the trustee before I could be discharged. Since then I have become common law and had two children. I was too embarassed to tell him and now I am so embarrassed I have […]

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