Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

Can Disability Benefits be exempted?

Can creditors or Revenue Canada garnish from people who are on disability pension or benefits?

bankruptcy

I live in Ontario and entered into personal bankruptcy in May 2007. My son wants to take on a summer job. If he does, do I have to declare his income on my monthly income statement?

i established an education saving plan for my sons, to go to the university but now i eill have to file in bankrupcty with the funds 5,000 will be taken away for the trustee, my debt total is 40,000/ is there any solution for this.?

Unexpected inheritance from overseas, half-way through a Consumer Proposal

I am just over half way through my Consumer Proposal. I’ve never missed a payment, and have completed my credit counseling obligations. I have just learned that I may receive an inheritance from an overseas relative: What are my obligations / options while under the Consumer Proposal?

overseas pension

My husband is ex british military and has a pension which is secured overseas. Does this money have to be declared as income when he declares bankruptcy?

Bankruptcy and Separation.

My wife left me 3 months ago due to financial difficulties. We are separated but not divorced. She is now outside Canada. I need to declare bankruptcy. We had both incorporated a business in Canada in 2000 with her holding 51% of the shares and me holding 49%. We both had signing authority of the […]

Accounting for BUSINESS income during bankruptcy?

I run a business as a sole propreitorship. Will I be allowed to continue the business if I declare bankruptcy? If the answer is yes , will I be allowed to keep raw materials/supplies required for the business? The machinery and the work premises are leased. How is the income from the business treated during […]

Sponsoring and Bankruptcy

Hi, Three months ago, I got married with someone who had temporary status in Canada (visitor). I have filed a bankruptcy two weeks ago. Am I still eligible to sponsor this person since I am bankrupt.

what do I give up

If I file for bankrupcy will I loose my personal items or have to seel household items

Buying the equity in my home

I was forced into bankruptcy this morning after the creditors rejected my DIV 1 proposal. My question is regarding my house, which I’d like to keep. My mortgage stands at 228 K and my home was appraised at 255 K. Does this mean that I must pay 27 K in order to keep the house? […]

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