What I Keep or Lose in Bankruptcy in Canada: Answers to Questions

Most Recent ‘What I Keep or Lose in Bankruptcy in Canada’ Posts

Bankruptcy and money in bank account

I was told by a credit counsellor that if I declare bankruptcy, I would only have to pay $1800 or $200 for nine months and I could keep my car. I don’t own a house or have any investments and only have a part time job. I have saved $4000 towards my $10,000 debt but […]

Filing bankruptcy and trustee of family estate

Can a person in bankruptcy still be a trustee of a family estate?

insolvent, moving

If I am insolvent and considering bankruptcy, can I move to a more favourable province to improve my situation in a bankruptcy?

RRSP in bankruptcy

If I declare, bankruptcy do I lose my RRSP?

Repossession of house

I got a letter from the bank stating they will repo my house if we don’t pay our debt in full which we can’t. We are considering bankruptcy, will we lose our home?

How much of his insurance settlement would he receive?

Three years ago a relative was injured severely in an auto accident that was not his fault. He has received no compensation to date – only some medical expenses(?). He is not able to earn an income due to his injuries. Somehow he negotiated an auto loan (with no income!) in which he has tens […]

keep my vehicle and still file bankruptcy?

I have a new vehicle (Ford credit loan) as I need to travel to a different province for my medical (WCB) problems and I need something that is reliable in winter and summer. Is it possible that I can keep my vehicle and still file bankruptcy?

Do medical/dental benefit repayments count as surplus income?

Do medical/dental benefit repayments count as surplus income? Example: I spend $100 on eyeglasses and submit the receipt to benefits who then reimburse the cost. Will the reimbursement of my initial expense count as surplus income?

Will the bankruptcy take the insurance money from me?

I am thinking of going bankrupt. My husband has health problems and can’t work like he used to on his construction business. We owe a lot of money and will never be able to pay it all. I also put in a claim for Critical Insurance for my husband’s heart attack and I am wondering […]

Will my wife and I lose our home?

My ex and I own a rental property together that is in danger of making myself and her go bankrupt. But my wife and I own a home that we live in. If the worst happens and I go bankrupt, will my wife and I lose our home?

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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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