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Most Recent ‘Q&A’ Posts

From consumer proposal to personal bankruptcy

I am in 36monthx$700 per month consumer proposal, the trustee fee (such as trustee fee, conselling fee) will be paid from the amount of $252000(36×700). In the middle of consumer proposal, asseume in the 20th month of the consumer proposal, I will suffer from permanent cash income reduce, which may lead me to file bankruptcy […]

tax refund and personal bankruptcy

If I receive tax refund for tax year 2007 (example:$2000) in March2008, and, in May2008, I file bankruptcy. Will my unsecured creditors (or Licensed Insolvency Trustee) ask me to surrender this tax refund of $2000? If I file bankruptcy in May2008, definitely there will be 9 months before discharge, so let`s assume that I will […]

Cra

special collection abilities of the of the cra what are they? Also what is a trust examiner? Thanks for time this is good website

Bankruptcy

I hope my question is in place at this site. I was a subcontractor to a firm; last week the contract was resiliated. I did not receive a paycheck for two last month. Moreover the employer fooling around and do not tell me if he is willing to pay or not. I respected this person […]

Cost

How mush is it to go bankrupt

uncleared cheques

When I file application for personal bankruptcy, and I`m asked about cash on hand and my bank balance, what happens to a cheque that was written hasn`t cleared yet and therefore hasn`t been taken off the bank balance? Are any cheques that haven`t been cleared through my bank account considered NSF then, even if I […]

Joint account

My child is in University overseas. We opened a joint account so that he could withdraw money for his expenses. That account is overdrawn by about $1500 which is about 2.5% of my overall debt. If I file for bankruptcy, will the bank go after him for the payment and damage his credit rating?. Should […]

Mr. I

I am a disabled person who may be filing for bankruptcy. I pay a lot of bills for medications and various other medical supplies. What will happen when I have to pay 50% or more into my bankruptcy?

Post Bankruptcy tax return

I know that the pre bankruptcy tax return is allocated to the trustee for disburement, but I was reading the government web site that sayed it is the debtors choice as to weather or not to assign the post return to the trustee and that you can recind authorization and direction, does this mean I […]

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