Obtaining a Mortgage
I have been discharged from Bankruptcy for 2 years now. I have a small mortgage on an old place that needs to be upgraded. Am I going to be able to obtain a mortgage yet?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Effective Date Question
Is a person considered bankrupt from the moment they sign the papers at the trustees office?
Surplus Income ?
What are the factors used to determine if a bankrupt has a surplus Income? If a bankrupt has nothing indicated on their initial bankruptcy documents upon signing about surplus income can a Trustee claim a bankrupt has surplus income after the fact?
Utilities & House and bankruptcy
I am married and all utilites (hydro, telephone, internet, satelite…basically everything is in my name). They are all current and are not behind in payments at all. My question is that if I file a bankruptcy, what happens, should these utilites be put into my spouses name before I file? Also, how is home equity […]
certificate registration
the cra has secured a certificate in federal court. I understand that if we declare bankruptcy it wont go away, but how do we deal with what we owe…it is a very very large sum….we are dealing with a trustee presently and we were going to file a division 1 with the courts and try […]
Out of the reach of the CRA…
The CRA is all powerful… and has far reaching powers… but how far do they really extend ? I assume the CRA has bilateral agreements with other countries to collect money owed to the CRA by people who leave Canada and go to live elsewhere in other countries. Is there any countries where the CRA’s […]
Monthly income statement
I am currently in bankruptcy in BC and have another 3 months to report before I am discharged. This last week my wife who is not in bankruptcy lost her job and given severance of 4 months pay (net $10 000). When I fill in my monthly income sheet do I have to declare this […]
Unemployed by Choice
How does the courts/creditors look upon someone who files for bankruptcy and is unemployed by choice. I have chosen to stay home with my children since the cost of daycare is high and not worth going to work for the small amount I would bring home. My husband fully supports the family, but I have […]
insurance policy
if my husband declares bankruptcy and he has a whole life insurance policy for 50,000 and I am the beneficiary (wife)will this policy be declared in the bankruptcy for the creditors! If it is not declared and bankruptcy does go through can it come back to haunt us in later years????? We are in complete […]
Divorce and Debts
My husband and I are separated. He is being extremely difficult in the closure. Our JOINT debts include credit cards and lines of credits. Our house is entirely paid off. He is threatening to go bankrupt. What will happen to me? I am joint owner on the house. Do I have to pay all the […]