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Most Recent ‘Q&A’ Posts

student loans and bankruptcy while attending school

My wife and I will most likely be filing for bankruptcy, my wife is currently attending school, and subsequently has student loans. If we file for Bankruptcy what happens with the student loans, and will she still be able to receive a student loan for tuition afterwards?

jewelry

my wife has her engagement ring and wedding band as well as a necklace all from before we got married. will we get to keep these things? We live in Ontario

Incomplete Bankruptcy

I filled bankruptcy in 2004, but never completed it with the trustee i was dealing with. Now I want to start over and complete it do I have to return to the same trustee, or can I re-file with a new one? The origenal trustee want me to pay a $1000 penalty before they will […]

credit card while in bankruptcy

I have just entered into assignment of bankruptcy and I require a credit card for work purposes, specifically for reserving hotel rooms and renting cars. Are there any options available to me? It seems even a secured credit card requires you to be discharged before acceptance.

Choosing a Trustee

Are all Licensed Insolvency Trustee the same? Or should I shop around? If I visited one, can I visit a second one to compare? What is the normal process?

windfall amounts

If I were to receive a `windfall` sum during my bankruptcy and the amount exceeded what I owed to my creditors, would I get to keep the amount in excess of what I owed? Or do I lose all of it? Also, if I have filed for bankruptcy, and then receive a windfall amount which […]

Power of attorney -claiming bankruptsy

my mother has a loan based on her income (old age and supplemental for the provice of Ontario. She has lived with us for 13 yrs and has no expences. Shortly she will be going to a long term care facility. The facility will charge her based on her income which the governmnet will contribute […]

Line of Credit

Approximately 6 years ago my father co-signed for a $30,000 line of credit from my bank that I was to use for university and residence fees because they wanted me to have the `full experience`. All of the money was gone in a year and a half. We are struggling to make payments on it, […]

house in wifes name

I am probably going to file for bankruptcy soon. My common-law wife (of 5 years), and I have a home together which was purchased 6 months ago. The house is 100% in her name, my name is nowhere on the mortgage or any of the monthly bills. If I go bankrupt can anyone `claim` it […]

Spousal Support

I am in debt to CRA for over $80,000 and there is no way I can pay it back. I am considering bankruptcy. Part of my financial problem is the huge child and spousal support payments. If I file for bankruptcy will it be easier to plead a case to the court that my spousal […]

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