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The short answer is “no”. When you declare bankruptcy in Canada, there are still some types of debt that you will need to pay later on. The goal of declaring bankruptcy isn’t to create a clean slate and wipe your debt record, but instead to alleviate your burden and make the remainder of your debts […]
Wage garnishment can be devastating. You’re already paying overwhelming debts and then suddenly your paycheck is smaller and you’ve got to cope with less money and mounting bills. So how can you stop wage garnishment in Canada? There are a number of resources available to you if your wages are being garnished and several ways […]
I am on disability. A couple of months ago I received a letter from Long Term Disability (LTD) to pay them back around $ 50,000.00. I am not able to pay this amount. I asked many different financial institutions to get a loan. But my request was declined everywhere because I can’t work anymore. Can […]
My ex. left me three years ago, and I have been paying the mortgage on my own, and he won’t resign the mortgage. I can’t pay the mortgage as it is a high-interest rollover and if I go bankrupt am I liable for any debt if he sold the house or goes bankrupt himself. We […]
Wondering what happens if we file bankruptcy, and we have a secured line of credit with my mother in law? We have a $30000 line of credit that my mother in law secured with her savings, but we are faced with filing for bankruptcy and want to know what will happen to her and her […]
When I was 19, my husband and I filed a consumer proposal. We have had perfect credit since then. Our scores were well above average. We bought our first house three years ago. All was good for the first two years. Year 3 full of unexpected trouble. Mortgage company offered to refinance to consolidate, then […]
My wife’s ex. declared bankruptcy. He spent two years obtaining as much $ in loans and credit that he could while all the while sending her emails that he was going to destroy her financially. All she was asking for was that he either buy out her share of the condo or sell it on […]
My name is the only name on my mini home. My husband and I both have our names on our truck. Both are secured. How do we keep them? I do have equity in my home but not much. We have never missed payments on either of them. How do I keep my home? What […]
I have been living abroad for 2 years and no longer can make payments to any debts I have. I have a credit card that has gone to collections and have been told I have 2 weeks to come up with the total debt balance in which I cannot come up with the money. I […]
Andy and Cynthia are a smart young couple, but they’ve gotten into trouble with consumer credit. Like most people, they certainly didn’t see money troubles around the corner when they started their small business. They were filled with optimism! And, things went well for a couple of years. Sales were actually better than they had […]
