Revenue Canada Debts
Is a consumer proposal feasable to work with Revenue Canda debts (income tax and GST back taxes)?
Q&A: Answers to Questions
Most Recent ‘Q&A’ Posts
Seperated husband lives in the states
I am seperated from my husband who is living in the USA. He has dual citizenship. I am Canadian. Can I declare bankrupcy when most of our debt is in both names? Our seperation is not a legal one.
RRSP’s and Bankruptcy
I have appox 10k in RRSP’s with a life insurance company, I have my daugther as my benifictary, will this be seized by my trustee when i file for bankruptcy.
Transfering a family asset to protect it
Almost seven years ago, I purchased my parents’s home in order to give them a wonderful retirement. They continue to live in the home. Since then, I have been involved with a business that is seriously failing and am afraid that if things can’t be turned around, I will be faced with the prospect of […]
Surplus Income Owed – Conditional Discharge recommended
Just wondering – 1st time bankrupt, just finished 9 months and submitted last monthly budget. Surplus income calcuated owing. If a family member (parent of bankrupt) provided a loan, to pay the exact amount of the remaining surplus – what would happen. Would it be considered income or would then be completed? Thank you for […]
Bill C-55
“To soften the blow, the bankrupt may apply to the court if their student loans are more than five years old, and the court may discharge the debt if the bankrupt has acted in good faith, and the bankrupt has and will continue to experience financial difficulty to such an extent that the bankrupt will […]
help with debt
I pay out all my income with debt, if i claim bankruptcy will i lose my house and car and what is a proposal I need to reduce my debt, I have used up all my saving i have about 1 month left
Do I need a trustee?????
Im coming back from china to a financial nightmare, I owe money to credit cards, cell phone company, and the bank. My question is, can i declare personal bankruptcy myself? I owe about 10K in total, and i have no assets. I do have 2 years of taxes which are owed to me from the […]
Exemption for Multiple Automobiles?
Hello. I know that in Ontario, one can keep an automobile up to $5000 during a bankruptcy. If a bankrupt owns two vehicles with a combined value of under $5000, are both exempt or is only one exempt? If the later is the case, is it a different case if the second car is a […]
Can’t afford to pay the trustees fees
My husband has filed bankruptcy for the first time and in now discharged we paid his bill to the trustee in full on time to accomplish this. I have filed for the third time. The first two times were to clear up debts with my previous husband and again upon our devorce. I have sole […]