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Most Recent ‘Q&A’ Posts

Lump Sum Payment

Due to extenuating circumstances, I will be filing for bankruptcy in 2009. Would there be any repercussions if my in-laws paid off my secured loan now? I`m anticipating that a trustee/creditors will be reviewing my records, which may go back 12 months prior to an assignment and I don`t want this to be considered a […]

credit card cash advances

I am a grandmother, living with my daughter and her 2 children. I have been taking cash advances on my credit cards to pay rent, food etc….I do not make a lot of money, hardly any to get by. If I am able to claim bankuptcy, are those cash advances part of it?

income allowance

If a person has a meal allowance (or living out allowance) from their employer, while on a job, is that allowance considered part of their income?

rent or not

I`m living with a woman in a relationship that I pay her rent every month and I thinking of going into bankrupticy, and would like to know if this would afect her in any way .

Preferential payment?

If a family member is willing to pay off one of my secured loan now, prior to bankruptcy in 6 months, would that be considered `preferential payment`? Would a trustee make me pay back?

Marital status

I filed for bankruptcy in 2007. Since then I have started living common law. Is it feasible to claim this fact? Will my fiance have to get his taxes done by the trustee also?

Incorporated Company

Hello, I have a small incorporated company, I`m the only share holder and I`m the only administrator, the company has no assets and the bank account for the company is almost empty. Still I`d like to keep it to do future business. I am now forced to declared personal bankruptcy, is there anyway I can […]

money don`t have any

hello happy new year Do you need to be employed to go bankrupt? I lost my job, divorced and just plain tired of not seeing the light at the end of the tunnel. I want some time for myself with no worries other than food.

will my employer and/or landlord be notified that I have declared bankruptcy?

If I were to follow all of the rules as outlined by the trustee concerning the bankruptcy process, would I be protected under the law such as FIPP to not have my employer and /or landlord advised and/or contacted for any kind of information specific to the bankruptcy? Or by declaring bankruptcy do I automatically […]

Secured Creditor

Good day. I have a secured car loan with 24 month term remaining. Unfortunately, I will be filing for a consumer proposal or bankruptcy in 2008 as my overall debts are becoming unbearable. My car is worth about $6000 but it`s very reliable and I would like to keep it. Would other creditors consider it […]

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