Job Loss due to Bankruptcy
I am a Federal government employee, if I declare bankruptcy will I lose my job?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Incorporation and personal bankruptcy
If I own 100% of the shares of an incorporated business , what happens to the corporation if I file personal bankruptcy? Will the corporation also become bankrupt if the trustee can’t find a buyer for the shares? Will all transactions of the corporation in the three months preceding my bankruptcy come under scrutiny? (large […]
If I am not bondable during bankruptcy what about after bankruptcy
i have just filed bankruptcy, I am trying to get a new job, am I bondable? If not during bankruptcy what about after?
How to prepare for a bankruptcy filing
I`am in a financial situation where I will have to file for bankruptcy soon. No judgements/garnishments are there against me still so I have the time to do a little bit of preparation before filing. My questions are: 1. How do you go about selecting a trustee? Is there any `trustee rating` system? 2. What […]
Inheritances during bankruptcy
If you inherit a house while still bankrupt, what happens once the house is put in your name? And if you also inherit enough money along with the house to pay for the total amount of your debts just prior to bankruptcy, can you keep the house?
Fraudulent conveyance
In the case of bankruptcy of an individual are transactions of the last 5 years examined for fraudulent conveyance? In my case I`am filing for bankruptcy over a 200K debt. I own 30% of an incorporated business which I effectively control through my spouse`s 30% shareholding. There was a lot of transactions involving transfer of […]
Unsecured car loan
I have a vehicle loan in the amount of 10,000$ however no lien is registered against the vehicle. The bank gave me loan and did not require security. Value of the vehicle is similar, maybe slightly lower. Due to an additional 25m in unsecured credit card/ credit line debt I have begun to consider declaring […]
Income Tax and Bankrutpcy
What happens if I have gone bankrupt but do not file the income tax form prepared by the trustee and a refund is due to me?
business credit cards
My husband is declaring bankruptcy in his business. He had a small business with his mother and she will probably declare too. The company credit cards are full and he used his personal cards and 1 of mine as well. Will his personal cards be cleared as they were used for the business and so […]
Spousal responsibility during bankruptcy
I lost my job due to disability two years ago and have been underemployed since then making about 2000 dollars a month where I used to make 8000. Until the disability I had excellent credit and at the time that I lost my job I had unsecured credit lines totalling 150K which were rarely used. […]