Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

RESP’s

Can RESP’s be protected in any way during a bankruptcy? Can they be transferred to the child’s name/account? Posted from: Ontario

Hi, I’ve searched other questions but nothing has quite answered mine. I’m in credit card debt ($50K-ish…) and unemployed. I understand about being judgement proof, but can I still file for bankruptcy anyway? I’d like to get out of this now so as when I do find work I can quickly get back to building […]

My mother lives with me.

My mother lives with me. The condo is in my name and I really don’t care to keep it. She contributes to the household expenses. Would this be considered income when I declare bankruptcy? Posted from: Ontario

Secured Credit Cards

are you aloud to have a secured credit card while you are in bankruptcy and what is the limit on them..i’m looking to get $200.00 Posted from: Ontario

My spouse refuses to submit paystubs

I am thinking of going bankrupt. I have aproximately 38000 of unsecured debt, wich includes credit cards and a student loan from 2001. It is my understanding that I have to include my spouses income in order to calculate the total household income. He doesn’t wany any part of this. And we do not own […]

I HAVE TO SEE A LAWYER NEXT WEEK ABOUT FILING BANKRUPTCY

I HAVE TO SEE A LAWYER NEXT WEEK ABOUT FILING BANKRUPTCY. I AM ON 2 VERY SMALL PENSIONS, OMERS AND CPP. CAN MY CREDITORS FREEZE OR TAKE MY PENSIONS. I HAD TO QUIT WORKING AT 56 DUE TO MULTIPLE HEALTH ISSUES AND TAKE REDUCED PENSIONS. THIS IS ALL I HAVE TO LIVE ON AND HAVE […]

Deceased Undischarged Bankrupt

My brother died recently as an undischarged bankrupt. He was in court with his ex spouse at the time and she has subsequently appealed the provincial court decision. As he has no estate, no will, and hence no legal representative I as one of the primary creditors wish to act in the court to obtain […]

House and RIF

My daugthter and I own a house. We are tenants in common. If one dies, the house goes to the other owner. The equity in the house is approx. 14%. I am retired with smaller income now and cannot pay my credit card dept. I have locked in RIF. What will hapen to our house […]

Declaring Assets

My parents recently transferred 2 farming properties to myself and 3 other siblings as their health was failing and they wanted to avoid any complications that could arise from willing the properties to us upon their death. I now have joint ownership of these properties on paper. One of my siblings is managing the farm […]

Taxes

I would like to know if bankruptcy payments are tax deductible. Posted from: Ontario

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