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Most Recent ‘Q&A’ Posts

amendment to bankruptcy law start from Oct2007

I did some search on website and found that an amendment to bankruptcy law is effective from Oct2007? Is it right? Some amendments are such as surplus income and length of bankrutpcy before discharge? Does any experters have this kind of information?

need advice

Hello I am wondering what I should do ….I am considering filing bankruptcy how much does it cost? What information I have to gather or do you find that out and clear it for me…??? How many years I will go without credit?

What happens to equity in home on proposal?

Reading on Consumer proposals, we have a joint situation where myself, wife and mother in law purchased our home together. We have about $30,000 equity in the house. We have $88,000 debt together. We don`t have enough equity to consolidate, but also don`t want to go bankrupt and lose the house. Our combined annual is […]

Repossession of equipment.

A private bailiff company has contacted me and advised that they are going to repossess some electronic equipment that was purchased using financing from a company which retained a `purchase money security interest` in the equipment. To avoid possible embarrassment to my family I want to hand over the equipment to the bailiff rather than […]

car payment in bankruptcy

If in January2008, I buy a car of $5000CAD before bankruptcy and the downpayment is $2000, the rest of $3000CAD is financed over 3 year term. In February2008, I file bankruptcy, and then i will be in a 9 month period of bankruptcy for my first bankruptcy, May I still keep this car and make […]

PLEASE HELP. I have no where to turn.

Hi there. I have a question regarding bankruptcy. I am almost ready to file a calim. I am about 15 – 20 thousand dollars in debt with a loan company, credit cards and a line of credit with the bank. In April of 2006 I was permanently laid off from my job and I was […]

house

when do you have to leave your house when you file for bankruptcy

Repossession prior to possible bankruptcy

I`am a sole propreitor and my business is passing through a tough period. I`am over 6 months past due on most of my credit cards and lines of credit. If I don`t get an order by mid-January 2008 I`ll have to declare bankruptcy. The problem that I have is that I have signed my plant […]

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