other creditors
I have other creditors i want to keep doin business with…is it possible to keep them if i chose bankruptcy?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
credit card debt
rather than filing bankruptcy – I have an individual negotiating with credit card companies on my behalf – reduced balances, interest rates etc. At what stage should I assume he’s not successful – I’m concerened that the credit card companies come after me and garnishee my wages or bank accounts – will there be any […]
Bankruptcy and the time lines..
Hi, I am just confused over the time lines involved. IS it correct that you are in bankruptcy for 9 months, then you are discharged, and your credit is still affected for an additional 6 years. In that 7 years total does the trustee file all tax returns or just the one that corresponds to […]
Medical expenses…
When guides say that you can subtract medical expenses from your net income before surplus is calculated, what exactly does that mean? If you have a medical condition that requires daily medication, would the portion that you have to pay for those prescriptions be deducted from your net income? Or is it only very specialized […]
Income Tax refund and bankruptcy in Canada
I’ve been reading through the archive and I am confused… if I file for bankruptcy this month (sep06), I know that the trustee must do the taxes for jan to sep 06 and then seperate one for sep06 to year end to capture the bankruptcy. But… does the trustee go back to my previous tax […]
Credit Bureau Information
If a lump sum cash settlement is given in consumer proposal then the credit report is cleared after 3 years but what happens to accounts that were placed on collection – on the credit report it says collection accounts will remain on for 6 years – is this still valid even if a proposal is […]
Bankruptcy versus Consumer Proposal
If a person has previously filed bankruptcy over 10 years age and now has cash flow issue and is contemplating consumer proposal, will filing a consumer proposal have the same effect on credit in the future as if there were a second bankruptcy filed?
Where to declare
My fiance will be leaving his Ontario job to join me in Saskatchewan after we marry. He is a slave to his loans (about 45K, of which 10K is OSAP), still living with his parents nine years after graduating university to afford to service them. He has no assets, and bankruptcy is looking pretty good. […]
leaving Canada
Hi, I have to leave Canada for a year or so but I have quite a lot of dept towards the Revenue Agency and on Visa card ( 21 ooo $ all together). I am wondering if filing bankruptcy would be a good option for me, sinse I am not able to pay that money […]
bankruptcy time limitations
If a bankruptcy was declared in Ont. in the 1950’s , is it still oweing when that person passed away after this date?