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Most Recent ‘Q&A’ Posts

what is considered `wages or income`

I have a canada pension disability pension and disability income from an insurance carrier. I have not been able to work since 1995 and my pension has been in place since then. I am 60 years old and these incomes have remained at the same amount since 1995. I have used credit cards in order […]

assest

I had made a verbal agreement with my ex girlfriends brother to borrow money to make some payments on loans. I signed my vehicle over to him as collateral untill i payed him back, then he would sign it back over to me. How would this affect myself or him? The vehicle is only worth […]

Assets

If someone doesn`t have assets like a house, car etc because they do live at home, is it possible for them to file for bankruptcy? Posted from: Ontario

confidentiality

I`m thinking about filing for personal bankruptcy. I can`t keep up with payments and i`m getting the phone calls from the companies. A few questions: 1. If one files for personal bankruptcy, how confidential is it? 2. What are the steps that one needs to do before going to see a `trustee`? 3. Does the […]

sponsoring a family from another country

If I file for bankruptcy, will I be able to sponsor my husband to live in Canada from another country? will the bankruptcy affect the sponsorship in any way? Posted from: Ontario

Total Monthly Income

My assessed monthly income has decreased by about $500 per month after the first month of bankruptcy. Does my monthly payment decrease as my income fluctuates? Posted from: British Columbia

RRSP`S protection

There is apparently a new canadian law as of this year that prevents the RRSP`S from banks not to be part of a bancruptcy. Can you give me some light or updated info on this matter? Posted from: British Columbia

BC Blues

How does a co-signer get affected by going bankrupt? Ie. Does it affect their credit rating? Are they obligated to re-pay the debt? And, is it possible for the co-signer to pay the co-signed debt off (prior to going bankrupt for other debts), then the bankruptee pay the co-signer back so it doesn`t affect the […]

no job

I have no job (i don`t get paid for it). I am looking for a fresh start. My common law husband, is a sole propietor; I answer calls and deal with customers, but don`t draw an income. If I need grocery or something (not luxury). I withdraw from the business account. I want to file […]

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