Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

how much maximum I have to propose to get an acceptable proposal

I have almost $110 k debt altogether in my credit card and line of credit excluding mortgage. my mortgage is around 93000 dollar, and my income $3400 after tax permonth.Market value of my condo is approximately $130k . We are a 3 member family with an 8 year old child. my spouse is not working. […]

RRIF

Are RRIFs surrendered in either Consumer Proposal or Personal bankruptcy in Ontario?

separation

My wife and I are separated, but not legally. I am contemplating bankruptcy and I am wondering if she will need to file as well.

Proceeds from exempted vehicle while in bankruptcy

when I filed for bankruptcy recently i was allowed to keep my vehicle, which was free of any lien, as it was worth less than the $5650. If I were to sell this vehicle prior to my discharge, what happens to the proceeds? Can I use it as a down payment on another vehicle … […]

waiting to be discharged

I filed for bankruptcy Aug. 2006. But I have not received by discharge papers yet. What does it mean? I am a first time bankrupt.

Personal Bankruptcy

Can bankrupt leave Canada and live in another country during the bankruptcy?

car

I am considering declaring personal bankruptcy, my car lease is almost up, what are my best options. Should I go and buy a car (loan) or lease a car. I just want to make sure because I need a vehicle for work.

Can I sell my car during my bankruptcy period?

I recently filed for bankruptcy and was allowed to keep my car as it qualified for the exemption …. value of less than $5000. If I sell my car prior to discharge do I have to turn that money into my trustee …or can it be used as a deposit towards the future purchase of […]

Creditors and information

If I talk to a Licensed Insolvency Trustee about whether or not I should declare bankruptcy, will the trustee log it into my credit report for all to see? or is the information kept private until I actually declare bankruptcy? I am concerned that creditors might find out that either myself or a trustee has […]

vehicle

My father is declaring bankrupcy, i put my vehicle in his name for insurance reasons. I am transfering the truck to my name. Can they take my truck?

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