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Most Recent ‘Q&A’ Posts

Repair Credit

I have an illness that has affected me over the years-I had to claim bankruptcy over 10 years ago and have had a struggle getting back on my feet. I would like to repair my credit over time but I have absolutely no idea of how to go about it. The frustrations of bad credit […]

Do I have options?

Hello, I earn over 30,000 dollars per year and have about 20,000 credit card debt. I don’t have any real assets to my name. I feel that with the high interest rates I never seem to get ahead as I do try to pay off as much as I can every month. I work very […]

Re sale of common shares in manulife 6 months before filing bankruptcy

I filed for bankruptcy in Feb. of this year, was I required to disclose the sale of these shares to the trustree? At the time when I sold the shares and used all the money I had no intention of filing for bancruptcy. I Filed for the proposal and was turned down, therefore, forced into […]

Wait for Judgement or declare bankruptcy?

I have received a Summons on a $35,000 personal line of credit I owe the bank for my business. The deadline to respond passed a few days ago. I am trying to decide the best option. I have very little in assets, not even $1000 in household goods, no RSVP, no savings, no vehicle. I […]

Money in bank account

I currently have money in my bank account to pay my mortgage due in a few days and the $200 downpayment for the Licensed Insolvency Trustee. That’s all I have, no cash on hand. If I file, will they take the money if I leave it in the bank and I have to come up […]

new business ?

Hello, I am considering filing for bankruptcy. I owe 75K in payroll taxes and GST. I have a new business idea and I was wondering if I claim bankruptcy, can I open a new business before I claim ? will it be touched ? What if I incorporate it and then claim ?

Entering a common-law relationship with a bankrupt in process of discharge.

If a person is entering into a common-law relationship with someone currently in the process of having their bankruptcy discharged, will this affect the ultimate date of discharge of the bankrupt and will the non-bankrupt partner’s income and assets be a factor in the ultimate discharge of the bankrupt? In short, is entering into a […]

Vehicles when bankrupt

how many vehicles are you able to have while you are bankrupt? my husband is in bankruptcy and has a work truck, are we allowed to have a car?

Collectors taking money from my account without asking

CIBC revoked my visa about a year ago and ever since a canadian collection agency has been after me. I recently had some monies put into my account out of province to pay some bills, but before I could collect the monies from the bank, the collection agency took it all except for 1 dollar. […]

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