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Most Recent ‘Q&A’ Posts

debt responsibilty

My mother is declaring bankruptcy. I have a good income and no debt. I received a call from one of my mothers creditors. They want the full amount from me . They have me listed on her account. Several years ago she asked for a supplemental card for me.My mother decided not to give it […]

debt management program

I have 35,000 in credit card debt. My creditor advised me to contact a non profit counselling service.I did apply and I also went to a meeting with a counsellor .She saw how much my income,expenses and assets were. These things are not very likely to change as I approach retirement.The counsellor told me that […]

garnishment

What type of income can a card company garnish? I injured myself working several years a go. I can never return to the workforce. My income is from the canada pension plan.My 2 daughters also receive monthy checks from CPP because of my disablity.Can they garnish my cpp? If I was working I assume they […]

morality and debt.

Am I a bad person if I cant pay my bills? I am taking someone’s money who owns part of the credit card company .Now that I owe so much and can’t pay I feel like I stole it.I used it to live on .I have had the cards for more than 10 years and […]

lost with no hope or understanding

I have a minnimum wage job.I guess you could call me one of the working poor. I have little education and will probably not earn more than minnimum wage in my lifetime.For sometime I worked 80 hrs a week.I did this for 3-4 years and was able to get credit cards at the time. I […]

professional liability claim and bankruptcy

I have excellent credits and always pay my bills on time. I presently have a professional liabiltiy claim against me. Unfortunately I did not take out liability insurance. What will happen to me when I declare bankruptcy when not able to pay my liability which may be in the millions of dollars?

What will happen?

I’m about 55000$ in debt with credit cards! When you go bankrupt you have to pay a trustee right? For how long? and how much? I’m self employed so I will have to get a job right and I will loose my compagny?? I’m just scared… I don’t know what to do.

Legal fees

I hired a lawyer few years ago to deal with some legal matter (under 10k), we did not win at the end and the lawyer wants me to pay his bill. I owe him over 30k plus my loss of the 10k and I cannot afford the legal bill. I am thinking of filing bankruptcy, […]

estranged ex declaring bankruptcy – home at risk?

My recently separated husband is declaring bankruptcy. We jointly own a home which is in my possession. I intend to purchase his interest as part of our separation agreement but this agreement is not yet in place. If he declares bankruptcy before I purchase the home, how will it affect my keeping ownership?

Co-signed Loans

I am presently in severe credit card debt and am considering bankruptcy. I have recently changed jobs and have had a drastic decrease in wages. I also bought a new car and am still paying the loan from my old car. My father took out the loan for my first car with the banks understanding […]

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