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Most Recent ‘Q&A’ Posts

Undischarged bankruptcy

I thought I was discharged from my bankruptcy which I filed for in 2000. I am now finding out I am undischarged. I currently have a car loan. What happens to my car and how do I get discharged? I was finally able to get my paper work and the last court document says, It […]

Reinstatement of GST and Income Tax Refund

I filed for personal bankruptcy in 2005, and was discharged in December 2005. I want to enquire when I would start receiving my GST payments again. Also, I didn’t realize that I would have to assign my 2005 tax refund to the trustee. Could you please verify this?

Is a Co-Lessee’s obligation discharged in bankuptcy ?

We have a car that was leased under a limited company name and under my name. I declared bankuptcy in Decemeber of 2004, but the limited company kept up the lease payments, although 1 or 2 months behind. I was dismayed to find that my personal credit file is still reporting credit history for me […]

Spousal RRSP

If i have a spousal RRSP – i am the contributor and my wife is the annuitant -and if she files for bankruptcy – is this counted as her asset and does this go in the bankruptcy estate? Thanks for your answer.

Why does my credit score get worse?

I was discharged from bankruptcy in 2001. Since then I have followed all the standard advice for rebuilding my credit. I obtained and paid off RRSP loans from my credit union every year. I obtained two secured credit cards and paid them in full every month. I obtained and paid off before the due date […]

including my home in a bankruptcy

I am at the point where I have to declare bankruptcy. I will have to include the mortgage on my home in this bankruptcy. How much time do I have from the time I see a Licensed Insolvency Trustee before I have to move from my home?

Collectibles Personal Assets?

Will creditors assume or collect personal items such as collectibles ie. A rock collection, comic books, or a picture signed by all 4 beatles? Or just fixed assets?

What are my options?

I owe about $100,000 to several credit cards which charge about 20% interest and I also owe $60,000 to line of credit which charges 7.5% interest. I manage to make minimum monthly payments but I would never be able to pay them off. I do not want to file bankruptcy. What are my options?

GOING BACK TO SCHOOL

I want to go back to school this year (Sept. 2006). I currently work full-time in Winnipeg, MB; however, the school I wish to attend is in Ontario. I am approx. $16,000 in debt (including Student loans). Where do I start? Bankruptcy? Consumer Proposal? If I can get another student loan, how do I repay […]

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