Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

What credit score is worth struggling for?

I have been struggling with debt since leaving university 7.5 years ago. I am happy to report I have paid off $25,000 in student loans but have managed to rack up a $23,000 in line of credit in that time. So I`ve really only paid off $2000, but I haven`t missed a payment and now […]

pensions and bankruptcy

We are filing for bankruptcy, i am able to get my pension funds…$20,000 how is that taken into consideration? Posted from: Nunavut

Is your employer informed

If you file a consumer proposal or bankruptcy, is your employer and your financial institution informed of this? Posted from: Manitoba

Joint equity in home and bankruptcy

My spouse (common law of 12 years) left and took his belongings while I was out of town. He is claiming bankruptcy of approx $175,000.00 Revenue Canada. My question is that we own a home together with joint title. If and when he claims bankruptcy are they entitled to my 1/2 of the equity in […]

EI

I am considering bankruptcy. As my spouse is not signed on any of my debt (all is unsecured), she will not file. I am currently unemployed and receiving EI benefits. My question is…. for the purpose of determining `surplus income`, are EI benefits considered to be income? Posted from: Ontario

general question

Do credit cards with a zero balance have to be included in a personal bankruptcy, i.e. will my relationship with any unsecured creditors with whom I have no debt be adversely affected. Thank You Posted from: British Columbia

maxing credit cards prior to bankruptcy

What happens if I max my credit cards right before bankruptcy ?? thanks ! Posted from: Ontario

surplus

Hello, I am wondering if dental expenses fall under non-discretionary expenses when calculating surplus income? They are sort of a medical expense, so I wasn’t sure. Thank you Posted from: Ontario

Bankruptcy and returning to college?

I`am married and both of us are employed. I don`t have a well paying job but my wife does. I`am saddled with about 100K in unsecured personal debt which is entirely due to living beyond my means for the last 4 years. I`am current on all accounts but turns out that 70% of my after […]

does personal bankruptcy affect the spouse`s income/asset

When personal bankruptcy is claimed, does it affect the spouse`s income/asset, etc…? Your response is highly appreciated. Thank you. Posted from: Ontario

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