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Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

Student Loans and Wage Garnishment Rates

I’m having some issues with Student loans right now. I was curious as to what percentage that Student Loans can garnish of a person’s wage? (Currently, making 11 dollars an hour for 37.5 hours a week in PEI.) Thanks.

Division 1 Proposal

I lost a High Salaried Position in April. I have now taken a a job as a Realtor – Full Commission and have been doing for 3 month. How long does one have to be in this kind of position before a Division One Proposal could be considered?

Once the Bankruptcy is processed

How soon can you apply for a secured credit card ? Someone mentioned getting a loan ? What’s the easiest way to do this a how soon ?

16 years later

My ex-husband signed an agreement to take over a mortgage in 1991. I did not sign anything I was on holidays when he did this. He kept the house for two years, we were separated but not legally. He finally walked away from the dump and declared bankruptcy in 1995, we were back together then. […]

starting my own business

i am going to file a CP soon and was wondering what happen i incorporate during the propsal? if i start my own corporation during the propsal will i be able to get a business line of credit or credit cards to devlop the business ? or my bad personal credit will prevent it?

how much should I expect to offer in a proposal to be accepted

hi, About four years ago i lost my job in the high tech industry and was not able to get a new job for some time, i had about 25000$ in creit card debt that went into colection at the time and was harrased by the collection agencies, eventually i left canada for some time. […]

Bankruptcy and joint bank account

Hi, My husband filed for bankruptcy in June and since then RBC is harrassing my mother-in-law and I saying we are responsible for the overdraft on the account. All three of our names on the acct, however my mother-in-law had no access to the acct in years and the overdraft to my knowledge was in […]

Bankruptcy and taxes on capital gains/income.

When a bankrupt’s assets are liquidated how are the capital gains and accumulated income taxed? Are they included in the pre-bankruptcy return filed by the trustee or the post-bankruptcy return? If the bankrupt is the sole owner of a CCPC what happens to the tax liabilities of the corporation when the trustee assumes control? At […]

Want to Buy property

Hi there, My common-law husband and I filed Bankruptcy almost 9 months ago. A few months ago I received a buy out package from my previous employer. I gave half of that as requested to my trustee. I am set to be discharged On July 31, my husband Aug. 31. I have the chance to […]

Advantage of declaring bankruptcy

Assume I’am earning a low income , don’t have significant assets in Canada to seize and am planning to leave the country in a couple of years….. Is there any advantage for me by declaring bankruptcy? The only advantage I can think of is that I will be able to reestablish credit a few years […]

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