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Most Recent ‘Q&A’ Posts

Family Home

If a home is in both spouses’ names and only one spouse declares bankruptcy and the home is sold by the trustee as part of the bankruptcy process,is the spouse who has not declared bankruptcy entitled to her portion of the equity if any after the secured debt ( mortgage ) is paid? Posted from: […]

no assets

I am concerned about claiming bankruptcy, I have no assets and am in dept in the appropriated amount of 25,000. This is not something I planned, but at the moment have no job and haven’t in months. I moved to another province to help a family member. In this dept there is a car loan, […]

Default on car loan during bankruptcy

I filed bankruptcy in August 2010 but decided to keep my car and continue with payments on it. I am now thinking this was a big mistake. I am having difficulty making the payments (though have never missed one). Could I decide now to include this in my bankruptcy or I am stuck with the […]

owner/director hold 1005 share

if I declair personal bankrupcy then what will happend to my corporation, since i am only director of the company, do I to declair corporation bankrupcy too? please guide me in ths matter Posted from: Ontario

CP Vs Bankrupcy

If CP is refused, can we declare voluntary Bankrubcy? Posted from: Ontario

immigration

If you have sponsored family members to come to canada and declare CP or Bankrupcy, does this take away the responsability to take care of people who were sponsored so they can go and benefit from social services? Posted from: Ontario

claiming bankurptcy on revenue canada

my accountant told me i owe 60 thousands to revenue canada do i claim bankrupt now or wait for revenue canada to send me there copy they are garnishing my wages this is from 2004 until present Posted from: Alberta

Dire Straits

I’m in deep, cannot service my debt, some of my assets are being transferred to my children in trust as part of a seperation agreement. If I do decide to declare bancruptcy (I hope I don’t have too) will the assets that go to my children be seized (assets are 50% of 2 companies that […]

wage garnishment

im already involved in a credit counsiling program. But cant remove or include a wage garnishment…what can i do? Posted from: Ontario

Foreclosure

I have read some of your responses to the foreclosure questions asked by others and am still a little confused, I obviously do not know all the facts. If my property does go into foreclosure and since I did pay for CMHC, which should cover the amount owing after the auction/sale of my property. Why […]

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