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Most Recent ‘Q&A’ Posts

Transfer of Property

Transfer of Property – I may have to declare bankruptcy because I have substantial CRA debt. I am going to try and pay it off but am not sure I can. My income is not what it used to be. Several months ago, I removed my name from the titles of two properties – 1 with […]

Bankruptcy Questions

Bankruptcy Questions: I make $850/week (approx $3,600 per month) at Vancouver’s best daycare centre. My total debts are $125,000. These include substantial tax debts to the Federal Government and a student loan with a balance of $26,432 that I took out to pay for training at an Early Childhood Education training school. My assets include […]

Consumer Proposal & FRO

Consumer Proposal & FRO.  I owe 25000 to family responsibility office, if I file a consumer proposal or bankruptcy what happens with that? Posted from: Ontario

Is it better to have the trustee sell my house?

I own a house but i hardly have any equity and falling behind in mortgage. My (private lender) lender is telling me he will foreclose the house. Is it better to have the trustee sell my house instead? How would this affect my lender. can he override and enforce foreclosure? Thanks, Posted from: British Columbia

CRA lien on house

I owe CRA $237,000 and Line of Credit and Credit Cards a total of $35,000. I still have a mortgage of $188,000. My house is valued at $299,900. My question is Will a consumer proposal be possible? If yes or how will bankruptcy or a consumer proposal help me solve my secured tax debt? Posted […]

If I file bankruptcy what happens to my boat?

I live in a water access only location (no roads) while i have a car ($600) i also have a small boat to get to road.   If i go for a bankruptcy will they attach the boat too, without it i would not be able to get to any land or services. Posted from: […]

What Happens to my House and Vehicle in Bankruptcy?

If I declare bankruptcy will my house and vehicle be taken from me? I have a chattel loan/mortgage on a mobile home, secure line of credit, I have never been late on a payment. I also have a vehicle , I owe 30,000.00 on that, I have missed several payments on my vehicle loan. I […]

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