Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

CRA Back Taxes

If some one files for bankruptcy, will CRA back taxes be cleared as an unsecured debt? Posted from: Ontario

pension

Do my pension count has an income Posted from: Ontario

passport

During a bankruptcy process, is one’s passport affected or ability to travel outside the country either for business or personal use? Posted from: New Brunswick

Can bankruptcy affect immigration requests. either to immigrate to another country or to marry someone from another country and have him/her immigrate to Canada. I assume the answer is probably yes during process, but what after a nine month successful discharge? Posted from: New Brunswick

Wait For House To Foreclose?

Would it be wise to wait for the bank to foreclose Before filing for bankruptcy? I am about to miss my 1st payment and can no longer afford the house or wish to keep it. Equity is next to zero, income is zero, savings have dried up. Have LOC and credit cards also that I […]

income tax and personal bankruptcy

if i declare personal bankruptcy, what are the arrangements with revenue canada? what if i owe them money at the time of bankruptcy? Posted from: Ontario

fraudulent bankruptcy

ive been added as a creditor in a bankcruptcy and know that the the person has lied on bankruptcy paperwork as to his financial situation as well as his living situation – how do i report this and what are the repercutions? Posted from: Ontario

HST Debt

My common law partner and I are filing a joint personal bankruptcy. We are self-employed and our limited company has no assets so we were advised that instead of bankrupting the company, it would just cease operating. The company owes ~$30,000 to CRA for HST collected – once we declare bankruptcy, will this debt also […]

Lawyer or trustee?

At what point does one need to consult with an insolvency lawyer and not a trustee? Posted from: British Columbia

Concerned

My friends business went belly up and she is thinking about filing for personal bankruptcy. She’s been told that she will have to get a divorce as part of the bankruptcy process. Is this correct? Posted from: New Brunswick

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