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During our initial consultation, we were given a figure of $2141 (two person family)to live on a monthly basis should we go bankrupt. Anything above that amount would be deemed available for disbursement to the creditors. Does that figure include paying for ongoing secured loans such as mortgage, car loan, etc. My mortgage and taxes […]
Over a year ago in June, my new husband and I refinanced my home (bought in my name long before I met him) to pay off a credit card debt of mine that had gone into collections and they were forcing me to come up with the money immediately. When we approached the mortgage broker, […]
What percentage(if applicable) of someone’s take home income is expected to be paid in a consumer proposal, or does it vary due to the person’s circumstances? What if a person knows that there will be higher costs in the future (for instance, housing costs), but not in the present? Should one talk this over with […]
Are amounts owed to Revenue Canada eliminated in a bankruptcy? Are the fess paid to a banruptcy trustee tax deductible?
when you declare bankruptcy,are you allowed enough money to live on? i’ve heard cases of people moving back home with their parents,but thats not an option with me.my parents are deceased.during a bankruptcy are you allowed enough money for a place to live,food and clothing? i intend on declaring bankruptcy,but i’m still working,what happens to […]
what happens in the case of death
I went bankruptcy 9 years ago i got married and i co-signed some loans for my husband about 3 years ago now he wants to go bankruptcy because we can’t afford to pay all our credits cards and loans i don’t want to go bankruptcy again but what happens with the loan that i co-sing […]
If I transfer ownership of my life insurance policy to my son prior to declaring bankruptcy can he be made to transfer it back or cash it in, as to become part of my assets? Could there be any other adverse impact of this action?
I am in debt for about 175k for credit cards, taxes and personal loans. I’m a sole proprietorship and my income is highly unpredictable. I work on a contract basis and my revenue can vary greatly from year to year, depending on the hours I put in at client sites and the rate I charge. […]
I Own a incorperated business (consulting business) I own a house that is values at about 250K. I have 2 children (2y and 12Y) I owe CCRA 40K, Revenu Quebec 20K and other credit crds and credit lines aboout 15K. I make about 5-6K net a month, my husbund make about 3K a month. Our […]
