Is BORROWED money considered income ?
If during bankruptcy I BORROW $5,000 from a relative, would that money be considered income and “surplus income” would then occur?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Am I protected from income taxes being incurred during the pre-bankruptcy period?
More specifically, I went bankrupt in Sept. 2005 and am now successfully discharged. Am I liable today to pay taxes on income earned up to sept. 2005? I know that previous years’ amounts due can be written off, but since the assessment for 2005 is only performed in 2006, am I still protected?
Seniors Financial Problems
I stumbled across documents during a recent visit to my parents (80+) that suggest that they are in a position of significant debt. I found at least four credit card statements for more than $15,000, and recent payment stubs showing the use of one credit card to pay another. Although they own their own home […]
Filing Bankruptcy for a Non Canadian
I’m not a Canadian citizen. I’m a failure refugee claiment here. Right now I’m staying here on Humanitarian and compassionate ground. I tried to open up a business in partnership with someone I know. But, he cheated me.I gave him the money from my credit card and right now he doesn’t wanna pay me back. […]
Trustees
If a firm resigns from being your trustee during bankruptcy; In other words, they mailed out letters to myself and all creditors involved that they have discharged themselves as my trustees; Can they re-assign themselves as trustees, after all these letters have been sent out and without contacting me ?
Consumer Proposal – Credit report
I am making payments under my consumer proposal and I thought it was to report on the Credit Bureau as a R7. Equifax lists their credit rating as an R7 for “making payment under a special arrangement” They have refused to change things to a 7 and insist it is a 9 – what recourse […]
future jobs
I filed bankruptcy this year. What jobs will it prevent be from getting in the future?
Joint Proposal Possible?
is it possible to file a joint consumer proposal? i have unsecured debts of about $95,000 and my wife has unsecured debts of about $45,000.Some of the credit card companies are the same but none of the accounts are joint. I am hoping this way i don’t have to file a division 1 proposal and […]
Winnings
I am going through a personal bankruptcy but my husband is not. If he were to win something big… like if he had a raffle ticket in his name on a car or boat or house or something… and he won, could they take that because of my bankruptcy? Just curious.
tax refund before bankruptcy going to trustee?
I filed for bankruptcy in 2001-discharged 2002. I am getting a tax credit for the years 1999 to 2000 because my daughter is disabled. The government says that my file did not clear through them until 2003 so they have to send everything before that year to the trustee. Now my trustee is saying they […]