Inheritance
My Mom is probably going to recieve an inheritance – she recently had to go bankrupt. How much will they take? Posted from: British Columbia
What I Keep or Lose in Bankruptcy in Canada: Answers to Questions
Most Recent ‘What I Keep or Lose in Bankruptcy in Canada’ Posts
Joint Asset
My sister and I jointly own a trailer (RV). If I were to claim bankruptcy, what would happen to the trailer? How would this work with regard to it as an asset? Posted from: Ontario
one leased,one paid off
i have two vehicles, one is newly leased, valuing to $30,000 and a paid off valuing to $2,500 or less, if i go on bankruptcy, will i be able to keep both or will i be told to return the leased one? Posted from: British Columbia
Can I go bankrupt for just my credit cards and line of credit
I own my own home and am up to date with my mortgage. My truck is paid off. My debt is mostly with a repoed car, credit cards and a line of credit. Is it possible to go bankrupt with just those debts without losing my home and vehicle(I have a daughter with sevre health […]
exemption for house equity in Nova Scotia
The laws in NS state that for a person who owns a home there is $0 in equity in your are exempt from. Does this mean that no matter what the amount of equity I have, I need to sell my home and put the equity towards the bankruptcy settlement OR can I keep my […]
insurance compensation
lately we got compensated through our rental policy for stolen items we used to have such as jewelery.laptop,camera a GPS…in case of bankruptcy should we surrender this amount although i read that under bankruptcy law we cn keep certain things of an assigned value. Posted from: Ontario
Liens
We had a loan on a tent trailer and about 6 months ago we consolidated our debt on to a line of credit. The original loan on the tent trailer was paid and they used the tent trailer as an asset for the line of credit. We are now thinking of filing for bankruptcy but […]
Do exempt assests double in joint brankruptcy?
Is it per person or household.? For example, if a husband and wife file joint brankruptcy as all debt is joint. Can we have two cars?, value up to $5600 each? Or if we only keep one car after filing, can we be given a gift of another during bankruptcy?. The logistics of our family […]
Equity in Home
My husband and I filed Bankruptcy and were told at the time that there was no equity in our home so we could keep it. Now four months after we file, the trustee is saying that there is equity and we have to pay it if we want to continue ownership. How much equity must […]
Will the full value of my RIFF be taken away
I have an RIFF which has lost considerable value from last year. I will be required to withdraw about 8.5% of the value this year. This is in addition to my modest pension. If I were to file for bankruptcy would the full value of my RIFF or the annual withdrawl amount (in Jan) be […]