Q
I just took out a mortgage 3 months ago, i got $20k in credit card bills, i got $18k in student loan, and just spent $12k on electronics. i can`t make any of my payments,if i file for bankruptcy can i get charged with frod.
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Amount of Debt
Does the amount of debt affect the chances of receiving a 9-month automatic discharge? I`m in debt $150,000 to about 10 credit card companies. Will some of these financial institutions oppose my bankruptcy because I owe them over $10,000 (owe $17,000 to one)? Does more and higher debt mean higher chances of having your bankruptcy […]
Payment Distribution
Hello, I filed bankruptcy over a year and made income surplus payment for 9 months. On top of that I had made a payment so that I can get discharge (conditional discharge). My question is, how is total of payment is distributed to the creditors? Equally or based on the amount that I owed them? […]
Basic Question
My question is more of a general question. I will be forced to file for bankruptcy in the next week due to one large debt. Other than this one I am financially doing good. I am terrified of filing and wish I did not have too. In general, is the next 9 months of my […]
prepaid mastercard
I have a question regarding a recent post about a pre-paid Mastercard. I`m confused as to why this would need to be turned into the trustee – it is NOT a credit card. It is a card that you put money on and you can spend what you put on, similar to a card that […]
length of bankruptcy
I claimed bankruptcy in 2005…took a year to get to court because ex objected. Two other debtors did not object. At the discharge hearing, the registrar asked ex how long I should pay. She said ten years. I have never received anything official from the court….just told to pay the trustee for TEN years. Do […]
Regarding Surplus Income
Will I be required to pay anything ? I lost my job a few months ago. I am not working. My wife works and has a $65K annual income (gross). Is there any surplus income in this scenerio ? Will either myself or my wife be required to pay any surplus income ? She works […]
spouse, bankruptcy and privacy
My husband and I have always kept our finances separate and now that I`m considering declaring bankruptcy he is even more adamant not to be involved. He refuses to disclose his income….what should I do? He insists that the `Privacy Act` protects him from having to disclose. Is this true?
Prepaid Mastercard
I have just recently filed for bankruptcy and have a pre-paid mastercard through money mart that I didn`t advise my trustee of as I didn`t find it necessary. It is just that..prepaid..there is no credit extended to me. Before I use it, I am able to keep it right?
Is it fraud?
If someone filed bankruptcy and after making the claim they move out of their house, leave their 5 children in care of their spouse, start a relationship with someone new, keep the vehicle and not give it to the spouse and also claim Canadian Child Tax benefits for the 5 children under their name when […]