co signer`
Will I be able to obtain a mortgage immediately after being discharged if I have a co signer and proof of mortgage payments being made out of my account over the last two years?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
mortgage and proposals
We filed a consumer proposal over one year ago.We have just under 2 years left to pay. Our situation has much improved since filing and I was wondering if a person can get a mortgage for a house while still under a proposal….say from a private lender?
Children’s bank accounts
If personal bankruptcy is filed, what happens to our children’s bank accounts? will they be seized?
Completed the Proposal
I had approx $40,000 debt in student loans (finished school in 1999). I have since completed a 5 year consumer proposal totalling $15,000. Now what happens? I have been told that I immediately owe the remaining $25,000. Do I file another proposal? Can I get the remainder forgiven? I am a single mother (no support) […]
Bill C-55 Bankruptcy reform etc
How will this pending bill/legislation affect someone who is already in 1st time bankruptcy’s final stages (1 month remaining) and discharge date Nov 15th? I am just barely over the surplus income guidelines, and have completed all duties required. Will this bill be retroactive, or will it have an effective date, ie. for bankrupts declaring […]
Furniture and Kitchen Appliances
If I bought furniture and kitchen appliances using store credit/credit cards, am I to return all these items in bankruptcy? Even if I need a stove to cook and bed to sleep in?
Co-signed Line of Credit
I have recently declared bankruptcy, my husband has not, nor does he need to. My husband has a line of credit on his house, not mine, never has been. He recently made some changes to his line of credit(paid of large sum then renegotiated another amount). They asked me to signed also, beleiving that this […]
Insurance Policies
I just filed for bankruptcy and my trustee took photo copies of two insurance policies of which I am the owner. Both polices are whole life, one has $0.00 accummulated above the insurance value, the other has $18,000.00 value, but is locked in for ten years due to a non redemption clause. Will my trustee […]
When is a person fit to declare bankruptcy?
If you have total indebtedness to four creditors, including a mortgage company, of about $180,000.00, and the sale of your house by one of these creditors will realise about $80,000.00, and your total joint monthly take home salaries (husband and wife), amount to $4,000.00, after a garnishment by CRA from one of the salaries and […]
Salary
Can a creditor who has a court order for a repayment of debt to him, with a variety of repayment measures open to him, recoup his debt by garnishing your bank account, which is comprised only of your salary, and take more than 20% in violation of Section 7 of the wages act?