Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

Vehicle

I still owe payments on my vehicle in AB but I use my vehicle everyday for work and live in BC, will I need to give up my car if I still owe more then $5000 but less then $10,000? Posted from: Alberta

What happens if I dont declare bankruptcy?

I just wondering if I dont declare bankruptcy, my credit would be clear after 7 years or I have to declare bankruptcy in order my credit goes back to normal after 7 years. Posted from: Ontario

Finding the debt.

I’ve been so good at running away from my debts that I don’t know where to begin to hunt them down. Apart from my debts from TD (Visa and Line of Credit) all my other debts have went into 3rd party collections. All debts are from 2007 or before. I simply don’t know where to […]

Timing of OAS & CPP Benefits

I will be going bankrupt soon and all I have for income is OAS and CPP of approximately $1,395 per month so I am hoping to qualify for a nine month bankruptcy. My spouse is unemployed but will qualify for OAS and CPP of $1,125 in about one year from now. Nine months of my […]

Very confused

I have a chronic illness but worked two jobs prior to my last surgery. Due to complications, I have been out of work and now collect income assistance. My disability insurance on my mortgage expired, now all of the bills are behind. I found your site, called for an evaluation, then was told that I […]

What’s included?

Are personal private debts included in bankrupcy? Posted from: Ontario

Voluntary Reposession

Due to a very negative circumstance, we are considering allowing our lender to repossess our vehicle. Once they take the vehicle, are they able to sue for any deficiency between what is owing on the loan and what they receive for the vehicle at auction? Posted from: Alberta

FROZEN ACCOUNTS

CRA HAS FROZEN MY ACCOUNTS I OWE 40000 HAVE NO ASSETS NOR DOSE THE BUSINESS WHAT HAPPENS NEXT? I WAS TOLD MONTHS AGO NOT TO WORRY ABOUT ANYTHING TILL THEY CLAIM DIRECTIORS LIABILITY BUT IM STILL HERE IN WORRY Posted from: British Columbia

Can I be protected from legal action?

Hello, I have a few questions would like to ask… 1. what will happen to the annual tax return of mine? Say, I file the 2011 tax return before filing my personal bankruptcy or after filing my bankruptcy?? Also I read that there could be 2 times of filing my tax return during the same […]

Bonuses/RRSP

I have just found out that I will be receiving a bonus from my work. Will this amount have to be included in my surplus? Also are my RRSP contributions included in my surplus income? Posted from: British Columbia

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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