Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

bankruptcy

a husband and wife have filed bankruptcy, live with 2 children and 2 parents, so 6 in total. what is the amount they are allowed to keep? Is trustee allowed to ask for receipts for non discretionary expenses which we do under our allowed income.thanks Posted from: Ontario

House

can we keep our house even if we file for bankruptcy ? Posted from: British Columbia

Alimony

my spouse and i are being divorced and is asking me to give her $50,000. if i am in bankruptcy, will i have to pay her? Posted from: British Columbia

LIF Pension Income

I am receiving pension income from my LIF (locked-in fund) created when I left my previous employer. A) Is this income exempt from my asset calculation? and B) should I include this income in my declaration of earned income? Posted from: Alberta

keeping the home

If I was to file personal bankruptcy myself, not my wife. Would we be able to keep our home which all equity was taken out already. Also, is my wife allowed to keep her credit open and available. Posted from: New Brunswick

divorce and had joint debts together

I am going through a divorce where we had some joint debts together, and I need to declare bankrupcy. What happens if she defaults too? will they come back to me or not since I have already filed bankruptcy? Posted from: Nova Scotia

Cpp contribution overpayments

If You have declared bankruptcy and the trustee asked for your pre and post tax returns are they intitled to 100% or 50% (if you have been paying a surplus payment) of cpp and ei contributions over the annual maximums for that year because of a change of jobs creating you to over pay. Posted […]

Is my verbal contract with trustedd binding??

I own a house (presently rented to a third party) in co-ownership (with a secured line of credit) with a person that declared personal bankruptcy. The trustee who is taking care of the bankruptcy made me a verbal offer on two occasions (mid December and early January) involving buying the co-owner`s share of the house. […]

meeting with a trustee

What should one bring to the first meeting with a trustee. I am planning on making a meeting for a consultation to discuss either a consumer proposal or bankruptcy. Posted from: Alberta

income tax refunds and bankruptcy

If I went bankrupt in february of 2009-and I am waiting on income tax refunds and back child tax credits for the years 2004-2007..do I also have to surrender these or do I just have to surrender my 2008 refund? Posted from: Ontario

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