Q&A: Answers to Questions

Most Recent ‘Q&A’ Posts

proposal – bankruptcy

can i go bankrupt after i realized a proposal is still hard for me to live? Posted from: Ontario

My father in law owns half of my home. My husband and I own the other half. My husband and I would like to declare bankruptcy. My husband and I have a secured loan on the home that has nothing to do with my father in law. He is not listed on the loan or […]

Benefit to filing?

I am recently separated and my ex-spouse has left me in a shockingly disastrous financial situation. We currently both own the family home, which is valued at $250,000, and we have about $160,000 equity in it. Through the separation agreement, I ‘inherited’ a $50,000 line of credit. My ex-spouse has 2 lines of credit in […]

Commissioned Spouse of Bankruptcee

I declared bankruptcy last year, and my wife is disclosing her income. My wife is a 100% commissioned sales person, making around $50K before expenses. She has been submitting her business expenses, and net income on the monthly schedule, however our trustee is discounting many expenses – ones that our accountant submits to Revenue Canada […]

Bankrupcty affect common-law spouse?

I declared bankruptcy in Feb. of this year and will not be discharged until approximately November 2012 as this is my second bankruptcy. I have a new common-law relationship. I’m nervous about informing my trustee of my new address and relationship because I’m worried they may ask for her financial information to report along with […]

Bankruptcy

Can a civil judgement and lawyer fees be included in a bankruptcy. Posted from: British Columbia

How is household size determined?

Good afternoon. With regards to the calculation of surplus income based on household size, how exactly is the household size determined by the trustee? I have my parents living with me but because they did not work in Canada at all and have not reached 65, their only source of income comes from my wife […]

Mrs.

Hi. I need to know if the taxes on excess TFSA amounts for a year before the bankruptcy are included in the bankruptcy. I recently received a TFSA Notice of Assessment showing BO, Please advise. Thank you Posted from: Ontario

Individual filing for a spouce

Can a spouce file as an individual to clear the debts that are in their name only without affecting the other spouce finacially? Posted from: Manitoba

Ms. L.

I am debating whether to claim bankruptcy as I co-signed on a car loan & that person has declared bankruptcy. The car is not driveable let alone I can’t afford $14,000 pay-out to the bank. I already have credit card bills etc. The person who has already declared bankruptcy was in an accident with the […]

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