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When I declared bankruptcy. The equity in the house was about $25,000 and the trustee figured that once the house was sold an all fees were paid, it was not worth selling off as an asset. Two things are happening. Im paying down two mortgages, and the housing prices in our area have skyrocketed, so […]
I just started a small company to do bookkeeping out of. It has no assets and is in a loss position. How does me going bankrupt effect it if I’m the only director/shareholder? Should I get another shareholder to take 50% of the shares prior to the bankruptcy? I’m not trying to hide income, I’m […]
Can anyone provide the answers (or even some answers !) to these questions ? 1. How can I keep my car if the actual value is over 5000 $ ? Its worth around 6000 $ . 2. Does bankruptcy really hurt me ? If so, how ? 3. Can I enter into a consumer proposal […]
I have creditors harassing me and I’m definitely going bankrupt. The problem is Bill C-55 and the 10 year student bankruptcy rule. I want to wait until C-55 is passed as, if I understand it correctly, if I go bankrupt before C-55 passes I’m locked in for 10 years but if I go bankrupt after […]
My partner has been hit with a tax bill in the tens of thousands of dollars. It is due to a failure to pay Ontario taxes on a business he and his ex-wife ran in the mid-nineties. The company they ran together hasn’t been generating income for several years and they were in the process […]
Hi, I live in Canada and I am considering bankrupty due to being “underemployed” the last 5 years. I have a job but it does not sufficiently pay the bills. I have been using credit card cash advances to help pay my minimum amounts due. I am currently up to 70K in total credit card […]
One of my friends went to a trustee to deal with outstanding debt and owed over $32000 in debt and only had to pay back $3200 in a proposal. These cash settlements are they common and would I be eligible for it when I have over $18000 in debt I am trying to deal with […]
I have been discharged from bankruptcy for 3 years now. My boyfriend has a mortgage already and would like to consolidate all of his debts including the mortgage. Will adding my name to the mortgage hurt him?
If I have shares in a corporation and go personally bankrupt what happens to my shares in the company?
My wife and I are facing bankruptcy due to each of us having illnesses last year: me with cancer diagnoses and her with a troubled pregnancy. We were both on STD. This year we have baby expenses, I have been diagnosed with sleep Apnea and have my license pulled and can not work for about […]
