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

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

Debt with Canada revenue. I cannot afford wage garnishes.

I have a massive debt owing with Canada Revenue…I cannot afford wage garnishes…what can I do…I cannot get a loan from the bank that they are suggesting…I have sent them a letter from the bank confirming this. I am afraid of what can happen to me and I need some help on what to do?

Are RRSP’s exempt from seizure in bankruptcy?.

I have an RRSP, which was my wife’s who passed away in 2012. I have been an undischarged bankrupt since 2002. My Licensed Insolvency Trustee himself was recently discharged from my file. I have just received a letter from CRA claiming taxes are owing from before my bankruptcy. Can the CRA seize this RRSP which […]

Will I Lose My Long Term Disability Settlement Pay Out

I am in a second bankruptcy. When I filed, I was in the process of filing for long term disability. I was turned down twice and then won my appeal. I am two years into my bankruptcy and have just been paid out a settlement of $29,000. Will I Lose My Long Term Disability Settlement […]

Will I lose the life insurance money?

My spouse has passed away leaving me with a small amount of money from his life insurance policy. If I declare bankruptcy will I lose the life insurance money? My monthly income as I am a senior is approx 1250.00.

What happens to the financial obligations to the trustee?

If a person is a trustee for a family member and files for bankruptcy, what happens to the financial obligations to the trustee Posted from: Saskatchewan

What happens with my tax return if I file bankruptcy?

If I file bankruptcy and have already received my tax return… What happens?? If I’ve already spent it on clothing or food.. Will I need proof? Posted from: Newfoundland and Labrador

Why does he get to keep his vehicle?

A relative by marriage filed for bankruptcy 2012. Lied to the trustees about debts and is suppose to go to bankruptcy court. In 2013 he received a new vehicle as a buyout from company he retired from as well as a cash settlement. Why does he still have the vehicle? I told the trustee and […]

I can’t afford all my bills since I was between jobs

If I am a single mom of three small children who lost her job but has since secured a new one but the new job wage does not cover enough for my mortgage , car loan and bills I have incurred while off work will I lose my home and car as I pay what […]

Will my kids lose their belongings?

Just wondering if I claim bankrupcy, will they take my children’s belongings (ie. Toys, their furnature(bed, dresser))? Posted from: New Brunswick

Will I lose my home, car & business if I declare bankruptcy?

Will I lose my home, vehicle and business if I declare personal bankruptcy? Posted from: Nova Scotia

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