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Most Recent ‘Q&A’ Posts

Purchase RESP?

I am about to file for bankruptcy, and will be losing my son’s RESP in the process. I have been contributing to it for the past 2 years. Since he is still young, I would like to buy a new one for him as soon as possible. Will it be alright for me to start […]

my daughter’s house

My daughter recently bought a house (she has not lived with me for the last 3 years). I am going to file the bankruptcy in a couple of months. Is there a possibility that my daughter’s house will be put up for a power of sale in order to cover my debts? She has nothing […]

If I live out of Canada

I have a contract job in the foreign country (in the Middle East), and I am going to file the bankruptcy in Ontario, Canada. Is there still the income threshold for the person living out of Canada and how it will be calculated?

Income threshold

I live in Ontario. I have a 24-years old daughter, who lives separately. I am going to file the bankruptcy. What is an income threshold for the single person in Ontario?

Credit rating after discharge

I’m not real clear on this. It seems as though you will have the r9 rating with you for 6 years after discharge. Yet, I’ve read the best way to rebuild your credit back up is to get a secured credit card, or a small loan after dischage, and start paying those diligently and on […]

Seperation and bankruptcy

My parents are in their 80’s, in 2005 they had to be seperated because my mother went into LTC, my mother never in her life had a credit card, my father however has now declared banckruptcy in another province,I am taking care of my mother totally now, we have not had contact with my father […]

BONUS MONEY

BOTH MY HUSBAND AND I HAVE FILED FOR BANKRUPTCY. I RECEIVED A MONEY BONUS FROM WORK. DOES THAT MONEY BECOME A PART OF MONIES OWED TO THE CREDITORS? ARE THEY ENTITLED TO ALL OR PART OF IT? ALSO ARE WE RESTRICTED FROM BUYING THINGS LIKE A NEW COMPUTER OR OTHER HOUSEHOLD ITEMS IF IT IS […]

Bankruptcy and Proposals

I have a question about bankruptcy, I am trying to deside what would be best for me right now, after 9 years of supporting my now ex live in girlfriend I have accumulated about 34,000 of debt to credit cards, line of credit, and concolidation loan. I have reconcolidated 3 times in the last 5 […]

Bankruptcy and Back Taxes

I have not filed my personal income taxes for 8 years. As a self-employed person I have found my self with unmanageable credit card debt (20,0000 and due to an illness I’ve been unable to work. I think that bankruptcy is my only option. Can I file for bankruptcy before coming clean with CCRA?

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