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

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

tools for work

I am a renovator who has no work and can`t pay my debts in my limited company. The only assets I have are the tools that I use for work that are worth about $15000. In personal bankruptcy those tools are protected. Is this so in the case of the corporation? or am I not […]

I own two houses

I currently own to homes. One I have a mortgage one plus a secured line of credit. The other I only have a secured line of credit. With the housing drop, my first house has more debt, then it is worth and the other house is about equal to the debt. If I declare bankrupty […]

Is bankruptcy an option

I have had a lot of health problems which have affected my ability to work and pay my mortgage – my former partner is an artist and his earnings have always been varied. We are now separated and I have now discovered he ran up 30000 on one of my credit cards – I have […]

secured loan

what happens to secured loans in bankruptcy if the creditor choosees not to take whatever was pledged as secuity. Is the loan then cleared in the bankruptcy. I have a citifinacial loan that was secured with household furniture (that really isn`t worth much) and was told while signing the paper that they don`t really take […]

personal bankruptcy and surplus income

I have filed personal bankruptcy and I have surplus income. I have spent some of it. Without realizing it. Over 2000.00 Can I get a loan from a relative to pay this back or how do I approach this. Posted from: Ontario

Autopac Registration / Ownership

A few months ago I changed the registration and ownership of our family van with autopac from myself to joint ownership between my wife and I. This was on advice from a family member who had alot of trouble getting ownership of a vehicle that was in her spouses name after the spouse passed away. […]

going thru a divorce/serious health issues

what happens if I file bankruptcy and my ex spouse is not and both of our names are on the mortgage for our house. And we have shared loans. I have become gravely ill and have no income to pay any of my creditors Posted from: British Columbia

My name on someone esles title

What happens if I am on title of my mothers house and I delcare bankruptcy? Posted from: British Columbia

Bonus Pay

If I declare bankruptcy and then due receive a bonus from work. Will I be able to keep any of it? I will already be paying a surplus amount, will this just get added to the surplus equation or will they take it all? Posted from: Ontario

Income Tax Refund

I filed for bankruptcy in March of 2008. My trustee filed an income tax return for 2007 subsequently. I received a refund in excess of $1000.00. Am I entitled to any of this refund? Posted from: Ontario

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