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

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

keeping the car

my question is can my friend purchase a cheaper car after she declares bankruptcy after giving up the financed one or she wont be able to until say the 9 months are over.thanks Posted from: Ontario

I am in a 21-month bankruptcy due to excess income. I filed in July of last year. My trustee filed my post-bankruptcy return. Today, I received a an income tax refund cheque from CRA. Do I have to turn the entirety of it over to my trustee, or do I get to keep it, just […]

Donna

I have home with a $150K Secured line of credit and a 2nd mtg of $75K. I am on a LTD disability and I work only 3 days a week 4 hours per day at $10.00 per hour. I am finding it hard to meet my financial obligations and experiencing an increase in poor health […]

matrimonial home

My soon to be ex is trying to file bankruptcy to get his name off the mortgage. I live in the house with our 2 children, I have been paying the mortgage. We bought the house with my inheritance. Will the house be effected? Posted from: Ontario

Death and Bankruptcy

My wifes father recently passed away and had declared bankruptcy. He was 3 months into his payments and died of cancer. He had a life insurance policy that he has left for her mom, they separated 10 years ago – not divorced. Is this policy protected or is she going to have to hand it […]

Company RRSP/Pension

Do I get to keep my rrsp. My company contribute and so do I. Been there 20 year. Posted from: Alberta

Inheritance

What Happens If I Inherit Property While I’m In Bankruptcy? I am to be discharged in September. Posted from: Ontario

Husbands Debt

Am I responsible for my husbands debts?He is considering bankruptcy. He has assets of about $100,000 and debt of $200,000 – all in his name. I have assets of about $100,000 – in my name mostly RRSPs about $20,000. cash. Posted from: Alberta

Senior Thinking Of Bankruptcy

I’m 65 but working still. Is age taken into account if I declare bankruptcy? Will my CPP be taken too? Posted from: Ontario

part owner of company

we bought a business in 08, can’t continue, to purchase the company we signed a general security agreement, putting a property up for security. What if after all assets are sold off, money owing to company is included, what happens next? Posted from: Ontario

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