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My situation is complicated. Six years ago my spouse and I seperated. Within hours I was voted out as a director of our limited corporation although I did remain a partial owner. Because I was not a director, I was unable to have any influence on financial or legal decisions made by the company. My […]
I got divorced about 5 years ago and received approx $168,000 as my divorce settlement. I purchased a house outright with all the money. I immediately met a man and became pregnant. I sold my house and moved in with him into his rented accomodation. He gave up work. I paid the rent and all […]
I have been self-employed for over 15 years and through out those years i managed to save about $75 000 in RRSP (segregated fund, insurance company with my daughter as beneficiary). I have become ill in the last year, and I am forced to close my business as i can no longer work or afford […]
My agency has lost funding an i may be getting severance pay. Am I entitled to keep this money under personal bankruptcy? I may not be able to collect Employment Insurance for a while because of the severance pay.
Over the last 6 month serious health issues have led to the part time hours of our business resulting in major finacial issues both business and personal. We are trying to sell our house hoping to cover a portion of debts still owed. We have a cottage that we sold 4 months ago and that […]
Not knowing the new changes in the bankruptcy act, should declaration be made in 2005 (this week) or in the new year? Which is better for the debtor?
We are concerened of the possibility of having to declare bankruptcy,we have about $8,000 left in RRSP’s. Should we cash these before we declare.
In a personal bankruptcy, if there is an amount owing to CRA, is that amount treated the same as other debt (ie. credit card debt, mortgage)?
I filed a consumer proposal almost three years ago. The payment portion will be completed in September. I understand that I then have to go through a “3 year clearance period”. Once I get in to this clearance period will my credit rating be improved enough so that I can purchase a house? My wife […]
My wife and I were granted absolute discharge from personal bankruptcy in 1998. Since then we re-established our credit, the bankruptcy was deleted from our Credit Report, and we bought a residential property. Recently we applied to a bank to re-finance our morgage. Our application was approved subject to approval from CHMC/GENWORTH to ensure the […]
