Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

should be retired, too much debt, no pension or assets

my husband and i are both in our early seventies. my husband is still working but his health will not allow him to work full time. we have a small government pension, few assets (at least not valuable ones) and are keeping our fingers crossed that my husband does not get ill. we do not […]

Consumer proposal

I have a couple of questions please: 1-Does a credit card with a zero balance have to be included in a proposal? 2-In your experience, will creditors accept a proposal which offers them less than 50% of what is owed even if that means getting more than if the individual files for bankruptcy? Thank you..

bankruptcy and inheritance

I have yet to be discharged but i might be receiving an inheritance will i be able to recieve it?

Credit Counselling Society of Canada

Is using the Credit Counselling Society the same as filing a proposal? I joined with them about 10 months ago, and am starting to have difficulties wth my payments. My common-law husband is not supportive, I was late last month and this month. I owe about $50,000, and am paying $700.00 per month. One of […]

What happens to the house?

I understand that if an individual goes bankrupt, they probably won’t lose their house if they don’t have a lot of equity in it. But what happens in a joint ownership situation? Spouse #1 declares bankruptcy, what happens to ther other spouse?

Bankruptcy tax

I filled for bankruptcy in Aug/04. My Income in 2003 was 12,500. In 2004 my income was 16,359. I am a widow with three children. Canada revenue is saying that I owe $987.0. How is that possible?

Family Heirlooms

Would jewellry with a value of less than $3000. passed down to you through the family be considered a family heirloom? Most is pre 1950.

Life is Totally Ruined

I am a single mother of 53 years old and had to declare bankruptcy in January of 2005. Today I went to see my trustee and he basically threatened me, plus I asked if I could take a copy of the papers home with me (sorry I cannot remember what they are called), the papers […]

Leave the Country after discharge?

Can I move to another country for employment opportunity after discharge?

RRSP

Will my RRSP savings will be forced to cash out to pay off the creditors??

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