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Most Recent ‘Q&A’ Posts

Debt Settlement almost paid off

In 2004 I signed papers with NCCC on a debt management plan for a few months over 5 years and I have only 3 payments left and am so `happy.` My case worker negotiated with my creditor Scotiabank and we all agreed in order to pay full amount of ove $18,71.39 I needed extened time […]

Bankruptcy and EI

Hi, a quick question. I have filed for bankruptcy back in march, and have also recently been laid off from my job. Can I still receive EI payments, while going thru the bankruptcy process? Thanks Posted from: Newfoundland and Labrador

New bankruptcy laws in Canada

My husband and I claimed bankruptcy in February 2009 and we are of the understanding that as first time bankrupts we will be automatically discharged in November 2009. We have been paying surplus payments monthly. Will we now be required to pay for 21 months as opposed to 9 months. Posted from: Ontario

Debt owed to past employer – taking legal action

I had a Amex corporate card from my past company I worked at and used the card for many personal purchases given the benefits of collecting points, etc. Due to my horrible spending habits I racked up quite a balance on the card over the past 2 years. I was not being charged interest and […]

Can I keep a credit card with no balance?

I have several credit cards near their limit (totaling closet to $40k) and have been working hard trying to pay them off. Its been tough and slow (paying nearly the minimum) but I managed have managed to pay off one of the credit cards. I have recently suffered a job loss and its been too […]

Options to Bankruptcy

My parents currently have quite a bit of unsecured debt between the two of them. They recently sold their home to try and use some of the equity to clear up some debt. However, even after doing this, they will still owe approximately 80K in debt. Also, my mum`s income has been reduced due to […]

Co-sign Question

Hi, the situation is: I have a student credit line from years ago that is up to date in payments and has a co-signer. If I declare bankruptcy, does the co-signer just take over the remaining payments with the same account/terms/interest rate, etc. or is the amount demanded in lump sum and/or a new loan? […]

taxes

I`m a little confused about the tax situation. If my bankruptcy is discharged in Jan 2010 does my 2010 refund (if there is one) go to the trustee or just my 2009 refund? Posted from: British Columbia

Bankruptcy and Writ of Seizure and Sale

If there is a Writ of Seizure and Sale filed on a home, and the person claims bankruptcy, when your creditor fills out the proof of claim would the creditor be considered as an unsecured claim or a secured claim Posted from: Ontario

add on to bankruptcy?

have a question….my son has been in bankruptcy since may 2009 ..he recently received a statement from a lawyer that he had put down on his bankruptcy. He used the lawyer from July 2007 to May 2009 for one trial….the lawyers bill was doubled in price and he was told that it was to late […]

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