Jim
1. Is a debt to cmhc wiped out 2. I am self employed with a net income of 35k and physical assets of 15k. What happens to my business. Thanks Posted from: Alberta
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
buisness owner
I own a Ltd. company. I am wanting to go personal bankrupt but am told I would need to resign as director. Do I have to transfer the company to someone or can I appoint a new director and then resign as a director myself? What would be the easiest and most reasonable way to […]
Secured line of credit/bankruptcy.
We have a mortgage that is also a line of credit ($197,000 mortgage part and $69,000 line of credit part). This is all at a very low rate of interest. We only have about $2000 left in our line of credit part. It’s only a matter of time before we have to go bankrupt (our […]
Debt Priority in Bankruptcy
If a debtor goes bankrupt and their house is sold as part of the proceedings, I understand that the mortgage company has first right to those proceeds to pay off the outstanding mortgage balance. If there is remaining funds after that resulting from the sale of the home, does the mortgage prepayment penalty that would […]
business
If you claim bankruptcy does your business name and number became invalid? Posted from: Ontario
confirmation
I am not sure I understand the surplus income/21 month bankruptcy. my household income will be about 250 over the threshold meaning I will have to make 125 payment to my estate. Ok the part I am confused about is whether the 250 means its a 21 month bankruptcy or does the 125 payment amount […]
surplus income payments
When you have surplus income and a 21 month bankruptcy, do you still have to submit income/expense reports to the trustee after month 7? Also can your surplus payments change after it is established eg. Increase in pay? Posted from: Ontario
Mr D
I had a bankruptcy in 1977, which I found out just now has not been discharged as I was applying for my second bankruptcy. What are my options. I did not realize that I had not been discharged all these years. Posted from: Ontario
bankruptsy
what if the house that was lost was in both spouses name when the bank took it back and you know longer even talk to your spouse can you clear up the debt on your own? Posted from: Ontario
lost and confused and at the end of my rope
I have been to see two trustees who will not consider filing a proposal because my wife doesn’t want me to disclose her info. One even said if I knew the info I was obligated to disclose it for both a proposal and bankruptcy. The pressure that I am getting to do the bankruptcy is […]