Should I file for Banruptcy?
I owe under $25,000 – should I file for Bankruptcy or write to my creditors for help. I have $6,000 in rrsp’s – should I take them out to lower my debt load before I file?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
75,000 in debts and two kids
These are very stressful times for my wife and me as we are expecting second child but the problem is that we are already in a serious debts (75,000). We are still able to pay our cards and lines of credits (minimum monthly payments) but I’m afraid that soon we won’t be able to pay, […]
mortgage renewal after bankruptcy
Hi, i was discharged from bankruptcy 4 months ago. My mortgage is up for renewal in a little under 3 years. At that time i will have almost 25% paid off. My concern is that my lender will force me to take a higher rate knowing that my past will limit me in shopping around.Is […]
Debt management program
I have been in a debt management program for two years . I have approx 3 years to go. Based on my income I pay 1200 a month. I had 60,000 in debt and now have paid approx 20,000. For the past 5 years I have been working 7 days a week /12hr days.I work […]
Blog questions
I have read quite a few of the questions and think this is a great site . I am having a financial crisis .When a question is answered in the blog they are short but very informative.I understand it is difficult to comment on situations that you do not have the facts. Usually the advice […]
removal of co-signer on a credit card
I am retired and I live on pension income. My financial situation has been slowly worsening in the past years .In all likelyhood I will need to declare bankruptcy in the next 12 months . I have several larger credit card bills (approx 10,000) and several smaller ones (1,000). I am holding my own at […]
second bankruptcy
I feel awful and totally irresponsible-I first declared bankruptcy 5 years ago due to some incorrect advice from my accountant and I owed revenue canada about $40,000-I am a very small business and am self employed with 2 employees. I have now run into trouble -again-with revenue Canada due to some very unexpected health issues […]
debt responsibilty
I was unaware that a supplemental card I have made me repsonsible for the entire debt . The application states the primary card holder is responsible for any debt incurred by the supplemental card holder. I assumed this meant I wouldn’t be if the card was in default. I just signed the card when it […]
Are consumer proposals often refused?
My husband and I are considering contacting a trustee about filing a consumer proposal. We owe over $55,000. How common is if for creditors to turn down a consumer proposal? And what are our options if that happens? Thanks for your time.
C.P.P disability payments
I have recently applied for disbility through C.P.P and will receive a large back payment of benefits.Will I have to report this to the trustee if I file for bankruptsy as I have not worked for some time or will it affect my filing.