Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

Defaulting on bankruptcy

What happens if someone defaults on their bankruptcy? Do they get fined or sued? Could they wind up facing jail time? I mean this person has already filed for bankruptcy. What happens if it fails? Posted from: Alberta

CMHC and Bankruptcy

Can CMHC come after you for the shortfall if you’ve claimed bankruptcy? Assuming foreclosure came first, then CMHC comes to us for shortfall and we then file bankruptcy….what happens to the shortfall then? Posted from: British Columbia

Ammendments

Can office expenses ie. percentage of mortgage, heat, hydro, etc. be deducted from my surplus income as a necessity of conducting business and earning a living Posted from: Ontario

Gail

Since my unsecured debt is solely in my name, but the house is jointly owned between my husband and myself, can they try to take our house anyway? Thank You Posted from: Nova Scotia

Mr. Robert Michano

I owe $5000. Income $1703. monthly I was looking at orderly payment of debts. Do I qualify? Posted from: Ontario

made a mistake

I filed for personal bankruptcy 5 years ago. I failed to fulfill my duties by not submitting the required monthly payments so I could be discharged. This was poor judgement on my part. What are the consequences of this as I’m now back on my feet with good income? Can creditors still come after me, […]

Claiming bankruptcy – how does that affect family loans

I owe my brother $5000 and am paying him back $200 per month. I borrowed it a few months ago to pay off a loan that had a payment per month of $340 – thereby lowering that repayments by $140. However I am still fighting with additional $650 of debt repayments per month. If I […]

Bankruptcy was not necessary

I went bankrupt on the advise of my trustee as I was assessed by CRA to owe $80K in taxes (amounts were set by CRA as I hadn’t filed my taxes in years). My trustee was supposed to file my back taxes but it wasn’t done and he lost my paperwork for 1.5 years during […]

ex-wife bankruptcy

If my ex-wife files for bankruptcy and we have a line credit with both our names on it what happens to it? Do I have to pay all of it or is it reduced in half since she is going bankrupt? Posted from: British Columbia

Worried

I’m seriously worried I was just told a a landlord has got a judgement against me… Can they attack my bank account Posted from: British Columbia

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