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

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

Personal Bankruptcy

If a person declares bankruptcy, is their life insurance policy touched? (it is for their burial) Posted from: Ontario

In bankruptcy Do I Have to return Boat and Trailer if I can afford payments?

Im thinking about going bankrupt. I was without a job for a while and accumulated or 40k in credit card debt. I can no longer afford the credit card payments , but I have a boat and trailer that are financed through a local credit union. I am wondering, if I go bankrupt, will I […]

can i keep my home

I own a 1971 glendale trailer that is approximatly worth $10 000.00. I owe nothing on it and this is where i live. do i have to give up my home if i decide to go bankrupt Posted from: New Brunswick

vehicle and bankruptcy in quebec

My daughters have purchased a $7000 2004 Chrysler vehicle for me a few months ago. If I file for personal bankruptcy will I be entitled to retain this vehicle? Thank you Posted from: Quebec

bankruptcy

our house is in mine and my wife`s name.If she claims bankrupcy can my home be taken? Posted from: Ontario

Is it possible to lose your house because of pre bankruptcy settlement?

I have 60k debt on my credit card with a bank. We went to court and made a settlement on my payment for $350 per month and I gave bank the authority to sell my home if I do not pay that monthly payment (My home has equity like 30k). Now I have calculated and […]

Joint Ownership and bankrutpcy Question

I reside in Alberta but hold a joint mortgage with my mom for her house located in BC. The house is my mom`s principal residence and she has never missed a mort. pmt. I never lived there. If I declare bankruptcy in AB, will her house be affected? She will continue to make the pmt […]

rrsp`s and bankruptcy

do i keep my RRSp`s in bankrupcy Posted from: Yukon

Inheritance

If a relative dies prior to us filing for bankruptcy, but during our bankruptcy period we inherit some money, do we need to turn it over to the trustee? Posted from: Ontario

Redeemed exemptions

Once an asset is considered exempt ie. $40,000 equity in a home, or RRSP in a segregated fund with an insurance company; are the funds also considered exempt if redeemed (the house is sold, the RRSP`s are cashed, life insurance cash value is taken, etc.? Posted from: Alberta

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