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Hi, Canada Revenue Agency reassess my tax return in 2005 (I was a returning resident at that time) and sent some money back to Canada to purchase my house. CRA treated as the business income and as the result, I owe them $450,000. Beside that I am having a personal debts of about $300,000 which […]
If a bankruptee receives an inheritance which is a large sum of money before they are discharged will the inheritance be taken by the trustee to pay the debts. Posted from: Ontario
Hello, My partner and I are buying a house together. He’s name will be going on Title only. If we make a cohabitation agreement which means that I will have rights to the property, and if I decide claim bankcruptcy, will the house be considered as an asset for me? Posted from: Ontario
My question is 3 parts, thanks If my wife and I file bankruptcy can we file separately even though we have some joint debt? If I my net income is 3,990 and hers is 700, would her term be 9 months and mine 21? And is your monthly payment solely determinded by your net income, […]
As soon as children are born – does that raise the # of the family members at that time or is there a minimum age that it falls into – for affecting the surplus income levels? If a family declares bankruptcy, how do they take into account the things needed when children are added to […]
I’m currently self-employed and am considering bankruptcy, once I do and am making payments, if I get a job what happens then? is my new employer contacted which could hurt if on probation? Are my payments adjusted higher? Posted from: Ontario
If I declare bankruptcy in 2011 which would be for 21 months I understand I would lose my 2011 tax refund. Do I get to keep any 2012 tax refund? Thanks Posted from: Ontario
If I file bankruptcy this month how many GST refunds do I loose? This is going to be my 1 st bankruptcy, so I should be done in 9 months. Will I still loose GST refunds for July 2012, October 2012, January 2013, and April 2113?Thanks. Posted from: Ontario
We are a 3 person household, one of which is a school age girl. Is the Child Tax Benefit included as income, we were informed that it is not part of the bankruptcy process. Should it be reported on our income sheets or just mentioned. Posted from: Alberta
Hello, we need guidance. We most likely will have to declare bankruptcy. Included in bankruptcy would be our vehicle which we cannot afford to keep. There is no equity in it. Question is, we need a vehicle for work, can we cash out or RESP to purchase a vehicle for work. That is the only […]
