Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

Is Bankruptcy necessary even if we have been outside of Canada?

My wife and I have some credit card debt four years ago, we had been live outside Canada since then, do we still need file bankruptcy when we return to Canada? Thanks. Posted from: Ontario

loss of all income during bankruptcy

I did my bankruptcy during a period that I was on unemployment and now has run out. I have to pay a monthly fee to my trustee but now I am without income. Are these montly fees at the discretion of the trustee or is this non negotiable and what are the consequences? I was […]

what is 7 month surplus income

what is surplus income and in what circumstances does it trigger an extended bankruptcy? Posted from: Ontario

almost 3000000 in unsecured debt

my friend owes 300,000 in unsecured debt but fears filing bankruptcy because of how long the bankruptcy will take. Does the length of bankruptcy increase with the amount of debt? Posted from: Ontario

Income during bankruptcy

Are taxable benefits, other than salary/money, included in the income to be reported during bankruptcy in Ontario? For example, if the employer buys a gift of some kind or pays for something on behalf of the bankrupt employee, does that need to be reported as income? Posted from: Ontario

How to Change a Trustee

Is it possible to change the trustees after i received opposition from trustee . Posted from: Ontario

Credit Manager

Hello, I am a Credit Manager and wanted to know if I can request a Creditor`s list from a Licensed Insolvency Trustee eventhough the Company I work for is not a creditor of the bankrupt ? Thanks. Posted from: Ontario

Do you lose your RRSP’s. LIRA’s or Pension through a consumer proposal?

Do you lose your RRSP`s. LIRA`s and any other pension money through a consumer proposal or bankruptcy? Posted from: Ontario

Surplus income and bankruptcy

I live with my boyfriend.. He is currently in school and has no income.. He pays for his school through his personal savings as well as student loan and scholarships. He is not employed. I am employed full time and bring home approx 975$ every 2 weeks. Would I fall under surplus income or would […]

Property in foreign country and bankruptcy

I have to file bankruptcy, but I have house in foreign country which I can not sale for many years, will I lost it? Posted from: Ontario

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