Bankruptcy & Insurance policies
Bankruptcy & Insurance policies What if two weeks before signing the assignment for bankruptcy I receive a payout from an insurance policy from my father’s death that is not tax deductible. Posted from: Saskatchewan
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
I have some old debts – how do I deal with this situation?
I have 5 debts all over 3 years old including one government debt over 17 years old incurred through overpayment in another province. I am gainfully employed but I am a sole support mother trying to get out of old debts so I can get on with my life. How do I deal with this […]
Secured Car Loans
I currently have 2 secured car loans in my name. 1. $5000, 0% interest, 2 years left 2. $50,000, 4% interest, 8 years left If I go bankrupt, am I able to keep car loan #1 by making the payments and having the 2nd voluntarily repossessed? Thanks! Posted from: Ontario
Surplus Income Calculation Explained
Ok. I have a couple of questions. I have heard different answers so I thought I would check with the experts. First I will explain the current situation. I filed for bankruptcy and then meet someone. She later moved in with me. The trustee told me that we were considered common law the moment she […]
What is our best option? We don’t want to lose our home.
My husband and I owe 30,000 in credit card debt, 6,000 in income tax, 94,000 unsecured loans. Our house is worth 260,000 and our mortgage is 204,000. Our combined income is 110,000. What is our best option. We don’t want to lose our home. Posted from: Quebec
Unemployed in Quebec
I am 64 years old and unemployed in Quebec, I have a pension of $460.00 and E.I benefits of $1,400 a month. In August my E.I will end and I cannot find work. I am managing my credit card payments at the moment as I have a flat-mate that pays half the rent, but when […]
I have just sold my house to my son for $1.00
I have just sold my house to my son for $1.00. I will be starting the process of bankruptcy, will this affect my son or I. Thanks for your assistance. Posted from: Alberta
Rental Income & Bankruptcy
If after declaring bankruptcy rental income is collected for a couple of months is it considered income or does the trustee take all of it? thanks Posted from: British Columbia
Transfer at Undervalue
Transfer at undervalue: If I move my contribution from an RESP to my sons bank account and he uses it to pay for university then I file for bankruptcy within the year can my child be forced out of school? Can the university be asked to return the money he paid over in a bankruptcy because it is […]
Do Child Support Cheques Not in My Name Count as Surplus Income?
Do child support cheques not in my name count as surplus income? My ex spouse sends child support cheques to my house in my child’s name. Does this count as surplus income if I declare bankruptcy? Technically legally speaking if the check is not in my name it is not part of my income. If […]