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I have recently filed a consumer proposal. In the meantime, I have become ill and will have a $25,000 payout from a Critical Illness Insurance Policy. Must I include this money in the settlement? Is it considered a windfall? Must I declare that I am receiving this money?
Hello, I am currently in a consumer proposal and have been monitoring my credit rating. My concern is that I have noticed my FICO score has been lowering, but everything else in the report seems to be accurate. I will have a personal loan paid off this November, will this help raise that number?? What […]
In ONtario, if one spouse files personal bankruptcy what happens to the matrimonial home if it is in the name of both spouses?
I have filed a bankruptcy and have been making income surplus payments since last November. I am told that I will be making these payments for at least another 12 months. I am a seasonal worker and might not have the job that I have for another 12 months. What happens if I am unable […]
What is considered a substantial equity in a lived-in home in the event of bankruptcy filing ? For example, my mortgage is 240K and my home was valued at 260K. Would this mean there’s an equity of 20K ? What about the real estate agent fees, land transfer taxes and lawyer fees ? Are these […]
I have just, in the last 5 months taken on the role as bookkeeper… … answers from me before they go talk to someone. Thank you
we have shut down a failing business. The debt we have left is credit card debt, our government guaranteed business loan (SBL), some PST and some GST. Can GST, PST and our SBL be included in a consumer proposal with the credit card debt – or do they have to be treated entiredly separately?? Also […]
A few years ago I filed a consumer proposal and it was completed and fully paid in 2005. Now in 2007, I am trying to apply for new credit but on some of the forms I’m asked if I’ve filed for bankruptcy in the last 7 years. I did not file for bankruptcy, it was […]
Four of us incorporated a business in 2001 with each of us owning 25% of the shares. The business is doing well and it has a book value of over 500,000 dollars. The problem: One of the four has declared personal bankruptcy. The questions: Will the company’s books be audited by the trustee? Will any […]
My fiance has a student loan, started out at about 14,000 ten years ago and is now almost 30,000. Not sure how that is possible but o well. He has been out of school for just over 10 years. So we’re debating consumer proposal or bankruptcy. We sought help from our MP, he told him […]
