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Most Recent ‘Q&A’ Posts

allowable income for 2008

This website lists the allowable income as $1755 for 2006. What is the amount for 2008? I`m researching for a friend who is seperated and paying $1000/month child support. Is there any consideration made for additional expenses (ie, clothing, lessons, organized sports. etc) that he pays for the children over and above the amount of […]

Joint condo ownership

Three of my sons purchased a… Any suggestions/comments would be greatly appreciated.

rent not paid for 6 months

rent not paid and lessee is declaring bankruptcy Would you please tell me if the landlord is a secured creditor

Bank Statements

I am in a position that I need to claim bankruptcy but in recent months I have become married and at times my husband has deposited money into my account so I could pay some of his bills through telephone banking.Will this negatively affect me? ….even though the money clearly shows going out to bills […]

ageing parent

We have an ageing parent, he added my sister and myself to his bank account with signing power . My sister is haveing finacial problems and is considering bankruptcy. Would my fathers account be at risk?

credit cards and airmiles

Hi, It might be a stupid question but if I declare bankruptcy will I lose all my airmiles that I have colected over years with my credit cards.

personally cover business debt

I opened an incorporated business in 2005, and borrowed 25k for equipment and tools. This business has never produced any results on paper or in real life! I ran into financial difficulty and started working for another company to pay bills. 9 months later I ended up with an injury and got laid of from […]

House Sale – Years Ago

I was told a recent home sale, the proceeds goto the creditors. But what if it was a long time ago – a couple of years. Could you clarify what is the rule on this time frame?

What about my wife?

I owned a business and it failed after accumulating lots of debt to suppliers and CRA ($75,000 in unpaid GST and Source Deductions). I have maxed all credit cards and lines of credit and am considering Bankruptcy. How does this affect my wife who doesn`t want to claim bankruptcy personally. All the main credit cards […]

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