 |
Please tell me how long the bankruptcy information remains on your
credit history. My wife and I declared bankruptcy in February 1997 and
final closure occured in November 1997. I understand that the status remains for seven years. Is this the case? Thank you .
response from Ann Clarke (January 5/2004) |
|
What does OPD do to my credit rating?
response from Ann Clarke (January 5/2004) |
|
I need to sell my car but it needs work and I can't afford to
repair it. The loan has been sent to collections and they have agreed
to settle for substantially less than the loan but I can't get a loan to
even take them up on this offer. I am not getting a single call from
anyone to buy the car. What happens if I let them repossess the car?
response from Ann Clarke (January 5/2004) |
|
I have $35,000.00 in credit card debt. All my name only. Having severe trouble in keeping up. Considering OPD or bankrupcy. Will my wife be cosidered on my personal debt? Joint title on house (est 50000.00 equity) Have some consulting firm. Wife is partner. What could happen here? Help please. Thank you .
response from Ann Clarke (December 23/2003) |
|
I am in a dispute with a collection agency. They are telling me that we are proceeding to court and they have a list of my assets and
that they will be getting a judgement. What happens?
response from Ann Clarke (December 19/2003) |
|
My husband and I had to declare bankruptsy in early October. My
daughter, who is 20 years old, is a single parent, and is in full time
post secondary school. She does not live with us, but we support her in
many ways, including groceries, school fees, and items for the baby as
she cannot manage all of this on her student loans. Do we decare her as
a dependant? how about her child?
response from Ann Clarke (December 7/2003) |
|
I am thinking about filing for bankruptcy and decided to buy an
engagement ring on credit. Will the ring be taken away?
response from Ann Clarke (December 5/2003) |
|
How long does it stay on the credit bureau if it's a second bankruptcy?
response from Ann Clarke (December 4/2003) |
|
About two years ago my wife & I remortgaged our home that was in joint ownership. We deposited the funds into my wife's bank account.
I am now considering bankruptcy. Will the trustee attempt to recover these funds from my wife's bank account?
response from Ann Clarke (December 3/2003) |
|
My wife & I jointly own our home.
If I transfer the title to her name only, 14 months before filing for bankruptcy, can it be seized by the trustee? Is
there a legal timeframe to gift or transfer property prior to claiming bankruptcy?
response from Ann Clarke (December 1/2003) |
|
Can a person be garnisheed while in bankruptcy?
response from Ann Clarke (November 24/2003) |
|
I have recently been discharged and am rebuilding my life! Before
I went bankrupt I had 40K plus in unused RRSP room. Does this survive
and do I still have that room or did I lose it in bankruptcy?
response from Ann Clarke (November 24/2003) |
|
Will bankruptcy keep me from getting a goverment student loan?
response from Ann Clarke (November 21/2003) |
|
I went through bankrutcy in 82.
I just retired, no pensions yet,(jan 04 start) 3 credit cards $20K, $26K CIBC loan (wife & I joint,
she's lead), $50K on returned eqipment that I leased and returned as I
couldn't keep up payments, $2500 to Revenue Canada, am 2 payments
behind on wife's car to HSBC, have $35K equity in our house, I ran up
$18K on wifes credit card(I'm not named on it) and I owe my bookkeeper
$1400. I am not working, 64.5 years of age, no other assets other than my
pickup valued at about $5000 invested (sale value slightly higher). Am I able to declare bankruptcy without affecting my wife's job and income?
response from Ann Clarke (November 19/2003) |
|
I recently claimed bankruptcy due to a business loss. I was
being sued by a company and they had a judgement against me that I
disputed. During the dispute the bailiff allowed me to keep my car. I
filed for bankrupty after my car was seized. Now the company has a court
order to seize and sell the car. I claimed the car as a personal asset
when I declared bankruptsy. Can the court seize my car as it was part of
a judgement prior to my bankruptcy?
response from Ann Clarke (November 18/2003) |
|
I claimed personal bankruptcy 2 years ago. I just received a letter from a credit collector saying I owe $7000.00 dollars for a past Visa. Is this possible?
response from Ann Clarke (November 17/2003) |
|
My girlfriend lost a good paying job, and while she was between
jobs her car went to collections because she couldn't afford the
payments. She is working again but her income is now half of what it once was!
She is making her monthly payments but "just barely." The car is also
aging and is starting to require regular costly repairs. She simply
cannot afford the car and she is going further and further into debt
simply because of the car. There are a few interesting problems in this particular case ...
response from Ann Clarke (November 12/2003) |
|
If a student loan has been transfered to a collection agency, can I declare bankruptcy on it, or does the ten year rule still apply?
response from Ann Clarke (November 12/2003) |
|
Can you advise if a trustee has an obligation to respond to a creditor's proof of claim? i.e. should they acknowledge receipt of the claim and advise you of the status of the bankruptcy? In my case the
proof of claim was filed in July and bankrupt's discharge was in August.
I have yet to receive any acknowledgment of my proof of claim despite
sending 2 follow-up letters.
response from Ann Clarke (November 10/2003) |
|
I recently applied for a secured credit card and was told that I had an undischarged bankruptcy. What exactly does this mean?
response from Ann Clarke (November 10/2003) |
|
I was wondering how soon after signing the forms to become bankrupt will it show on the credit bureau(s)? Also, how long do you have to wait after declaring bankruptcy before you are allowed to apply for credit? Thank you.
response from Ann Clarke (November 4/2003) |
|
My fiance was recently diagnosed as bipolar. Over the past few years when he was not diagnosed and very ill he accumulated about 30K in unsecured debt and 50K in income tax. He functions well at work (except when he cycles into deep/suicidal depression) and outisde of work is not really able to focus, function or deal with any stress. He is being sued, harassed and CCRA has frozen his bank account. He has finally been relatively stabilized on medication and has been offered a position at 80K in his field. Will his work find out if he declares bankruptcy? Will bankruptcy unfreeze his bank account so he can get paid by direct deposit? Is there any clemency that can be sought? He has aggreed for the futureto have a bookkeeper deal with bills and so forth. I'm worried that even the stress of this will sending him "cycling' down again - CCRA did not give a hoot when we called and the Trustee he had a free consultaion with was synical and unempathetic. How does he (with my help) navigate this process with his neurotransmitters intact?!?!
response from Ann Clarke (November 3/2003) |
|
Hi there. I have a truck that I currently am leasing, my
question is, can I return the vehicle that I no longer can afford
without getting sued for it. In B.C. I heard it was either seize the
car "OR" sue for the amount oweing. Is Alberta seize or sue or is it
seize "AND" sue?
response from Ann Clarke (November 3/2003) |
|
CMHC has come after my wife for her previous home with her first husband for $30,000. They will settle for a lump sum of $4000. However that is not possible and they are threatening to garnish her pay at the tune of 50% of gross. Is that legal/possible? Is there recourse, if that leaves us no possibility of surviving?
response from Ann Clarke (November 3/2003) |
|
Can credit card companies "force" a person into bankrupcy? If I just choose not to pay them, what is the most that they can do to
me? Thanks.
response from Ann Clarke (November 3/2003) |
|
My wife and I have amassed approx $145.000.00 in credit card debts. Our combined income over the last 3 years has been approx $40,000. We are still paying on our home (bal.. approx $10,000) but are
no longer able to make our monthly credit card payments ($3,600.). If we
cannot keep up our card payments, can the card companies take our home?
response from Ann Clarke (October 30/2003) |
|
I have given my daughter a second card on some of my credit
cards and now might be considering bankruptcy. Will the card issue-ers now pursue her?
response from Ann Clarke (October 30/2003) |
|
How much would it cost me to go bankrupt?
response from Ann Clarke (October 23/2003) |
|
I have an unsecured credit card debt, of 22,000 dollars. I want
to declare bankruptcy, but I have a question. If I declare bankruptcy
will the creditors take a sum of money that I have in a profit sharing
plan where I work? Can I pay this amount of money on my husbands credit
card to help lower his debt, before I declare bankruptcy?
response from Ann Clarke (October 23/2003) |
|
I have a loan and my mother is a co-signer on. If I were to file bankruptcy in California, is there any way to protect her from
being liable for the loan or of it affecting her credit in the future?
response from Ann Clarke (October 23/2003) |
|
If I have a student loan from Quebec older then 10 years can I put it in bankruptcy in Alberta?
response from Ann Clarke (October 23/2003) |
|
Our renter moved out and left damage of a substential amount. After we filed our claim with the court he declared bankruptcy. Now we
found out that in the "Offer to Lease" he lied about his former landlord (because he skipped out on his landlord) and a car that was owned not by him but by his wife. Is this enough to claim the debt was obtained by
misrepresentation? If yes, does this mean we have to go to court?
response from Ann Clarke (October 22/2003) |
|
My husband's truck was recently reposessed. How will that affect us in trying to buy a home?
response from Ann Clarke (October 14/2003) |
|
We have a mortgage on a house in Kitimat BC which we still owe
$80000 on. We left Kitimat to another community in BC. We put the house up
for sale and even had it rented out for the first few years. But then our
tenants moved out,leaving the house in a mess,and with no one to rent
it.We managed to pay the mortgage on it for several months but then
things started getting tight(financially).We asked the bank to take the house back, but they refused. What I would
like to know is can we declare bankruptcy on just the mortgage or do we
have to do it for all creditors.
response from Ann Clarke (October 14/2003) |
|
I would like to know if only certain people with certain circumstances can file for bankrupcy. Are there any special requirements
before you can file for bankrupcy?
response from Ann Clarke (October 14/2003) |
|
I leased a car under my name for my boyfriend a few years ago. He agreed to make the payments for the car. Two years later we split up,
I get a phone call saying that I owe $9000 to the dealer because payments have not been made. They repossess the car from him but they are charging me for the amount due that he has not made. I haven't been able
to get in contact with my ex-boyfrienb. I don't know his whereabouts. The only thing is I have his social security number. How can I resolve this sittution?
response from Ann Clarke (October 14/2003) |
|
I have incurred about 50,000 in debt, including student loan
debt (a judgement for 10,000 was made against me on this). I am now in
the middle of negotiating a divorce and wonder if I should file for
personal bankruptsy because much of the debt I have incurred was on my
supplemental credit card in my spouse's name. She also has significant
debt from credit cards in her own name.
response from Ann Clarke (October 14/2003) |
|
I am applying to the Alberta Government to release Funds from a
LIRA to pay personal income tax for the 2003 taxation year. I am
currently in a proposal accepted by my creditors in the spring. If I get
permission to have the funds released is it possible for my creditors to
claim these funds?
response from Ann Clarke (October 14/2003) |
|
If I file bankruptcy can I still buy a house?
response from Ann Clarke (October 14/2003) |
|
Please explain how lottery winnings would be handled during my bankruptcy: if it's a small amount--less than the amount I still owe you (the trustee); if it's a medium amount--more than I owe you, but less than I owe my creditors; if it's a large amount--much more than I owe you and my creditors. Whatever the amount, would I be allowed to keep some of the winnings for medical expenses? E.g., to buy much-needed medical equipment prescribed by a doctor? Or to get much-needed dental work done? If the winning ticket belongs to two people--my friend and me, will my friend still get his share? If I write a cheque to buy a lottery subscription and then my friend pays me for his share, what proof would you require that the subscription is shared so any winnings would be shared? Thanks.
response from Ann Clarke (September 30/2003) |
|
Hello, I was just wondering if there was something saying that people can't come to your house at 9 pm on a Sunday evening to reposess your vehicle? Are there restrictions on when they can do this? Thanks.
response from Ann Clarke (September 30/2003) |
|
About ten years ago my husband and I filed for bakruptcy. Two years ago he passed away and left me with some credit card bills. I now pay a very high rent and have credit card bills of my own that I just cannot pay.
response from Ann Clarke (September 30/2003) |
|
I only have about $10,000 equity in my house. I'm thinking of moving from Edmonton to Red Deer. I would be selling my house if I moved. What would happen to the money I received from selling the house if I was in bankruptcy? Thanks.
response from Ann Clarke (September 29/2003) |
|
I have an unsecured loan, the bank does not have any lean on my car title. The car is 100% in my name. Can they still repossess my car if payments are not made?
response from Ann Clarke (September 27/2003) |
|
Can I claim bankruptcy if I am a landed immigrant and have been in Alberta for 5 years, I have my own business will that be affected, I am a self employed massage therapist, I do not own but rent, the money I make is my only income, my overhead is my rent and oils only.... How do I find out if my line of credit is secured or not?
response from Ann Clarke (September 24/2003) |
|
How do they determine how much $4,000 worth of personal goods you can keep ... it is based on retail value or what you can sell for it now ... how does jewellery fit into this in how much it costs as I do not want to lose my grandmother's ring?
response from Ann Clarke (September 16/2003) |
|
For bankrupty, is the $40,000 equity limit per person or per couple?
response from Ann Clarke (September 16/2003) |
|
I am married and I may be losing my job in the near future. If I declare bankruptcy because I have no income, is my husband's income affected? What if we have shared debt?
response from Ann Clarke (September 16/2003) |
|
I understand after filing bankrupty that you have the option of either returning the vehicle to the dealer or keeping it as long as my payments are up-to-date. The part where I get confused is that why does the trustee's office tell you not to make any payments til they do "something"? 1) what is the "something?" they have to do and why is it important 2) If it takes the trustee to do "something" for 3 months, then do I have to make the whole 3 months payment upon the completion of "something?" 3) what happens if keep on making these payments anyway to GMCC? Please advise as I want to understand this before I declare bankrupty.
response from Ann Clarke (September 15/2003) |
|
I may be soon out of a job or any income and I have been paying into my proposal for over a year and still have two years left. Do I have to declare bankruptcy? I will be getting married next month ... what happens if I declare bankrupty after I get married? Appreciate any help you can give.
response from Ann Clarke (September 8/2003) |
|
If I declare bankruptcy, do I lose my RRSP's I have with the bank or with a mutual fund company? I work for the provincial government ... will I lose my government pension?
response from Ann Clarke (September 8/2003) |
|
Both my parents are making payments under a proposal. However my mom will soon be losing her income and is looking at doing the bankruptcy process for herself only. How does this affect my dad ... should he declare bankruptcy or keep up his share of the proposal? If they have over 40,000 in equity in the house do they have to sell it? If they don't sell it how do the creditors get the amount over the 40,000 (let's say its 16,000 over)? Thanks.
response from Ann Clarke (September 8/2003) |
|
My husband and I are co-owners of a house with 53,000 in equity. I will soon be unemployed with no income. Will we have to sell our house as it is over the 40,000 limit?
response from Ann Clarke (September 8/2003) |
|
If a person goes into a proposal and then a year into the proposal finds themselves with no income, what happens to the proposal and the debt?
response from Ann Clarke (September 8/2003) |
|
I am an AB resident with a Canada student loan. I am thinking about claiming bankruptcy due to finacial hardships. My Canada Student Loan has now been sent to collections. Does this mean I am now able to include it in my debt(bankruptcy)? I have only been out of school for 5 yrs. And I know all about the 10 yr law. Just wondering if a student loan that has been sent to collections is now under a different status. Is the Student loan and now just condsidered debt?
response from Ann Clarke (September 4/2003) |
|
My husband and I are separated and I just found out he is filing for
bankruptcy. Will this affect me?
response from Ann Clarke (September 2/2003) |
|
My boyfriend whom I lived with for over 1 year is going to be claiming
bankrupcy. All of his debt occured before we moved in together. I fear that I
will get tied into his financial problem as I own the house and most of the
property inside. Can you give me any insight? Thank you .
response from Ann Clarke (August 5/2003) |
|
Could you please let me know what fees that you charge, what it would cost me? My husband and myself are looking into filing bankruptcy, caused to us from a business that we operated and now closed .
response from Ann Clarke (August 5/2003) |
|
I own an apartment with my father, 50/50 and he is thinking about claiming bankruptcy, will this affect my half of the apartment, will I loose my money, or does the bank sell the property, give me my share and take his share as part of his assets? Please let me know. Thank you .
response from Ann Clarke (August 1/2003) |
|
I work a great distance from Edmonton, but if I can make a trip into see you, plus bring all the documents you have listed on the web, can I get my banckrupcy done in 2 days, in order for me to get back to work on time? One would be better. Thank you .
response from Ann Clarke (July 31/2003) |
|
Can a person be exempt from paying g.s.t when going bankrupt?
response from Ann Clarke (July 29/2003) |
|
Is there such a thing as a modified proposal? I have substantial debt, but I want to pay it all off. Do you think my credit card companies would accept payments lower than my minimum for about six months and then allow me to make full minimum payments after that? (Of course, I wouldn't use the cards anymore.) Doing this would allow me to pay off two loans faster and get my finances on track .
response from Ann Clarke (July 28/2003) |
|
I got into trouble by gambling. How will that affect a bankruptcy of $32,000? I have quit, but I don't think that will matter to my creditors .
response from Ann Clarke (July 28/2003) |
|
If the husband files for bankruptcy, and he lives with his wife and dependent children, and the wife also works, is her income considered part of the husband's income? That is, would his wife be dragged into the proceedings also?
response from Ann Clarke (July 28/2003) |
|
Am in Ontario on a work transfer. Am out of Alberta. Was reassessed in taxes, and cannot sustain large debt load caused by many factors. Wish to declare bankruptcy. Should that be done in Alberta or Ontario? Also have almost no assets and am below the 50% figure. Is there a chance my bankrupcy would not be discharged? Thank you .
response from Ann Clarke (July 28/2003) |
|
I work in different project locations away from my principle residence and receive a tax free allowance to cover the costs of my travel home and my daily expences while away from home.The allowance varies from project to project and the time frame varies from project to project. Does this LOA need to be reported as income/asset if I declare bankruptcy considering it is strictly for the purpose of covering unsolicited expenses created by my company posting me to distant work sites?
response from Ann Clarke (July 28/2003) |
|
My husband is going to file a bankruptcy. Is it going to affect our house right now? We own 75% of it .
response from Ann Clarke (July 23/2003) |
|
I was recently approved as a Canadian permanent resident and I am moving to Alberta soon. I have had a problem paying my credit cards lately in the U.S., and my wages may soon be garnished. Will a U.S. court have jurisdiction over my wages in Canada? Can my Canadian wages be garnished for U.S debts? Thanks .
response from Ann Clarke (July 18/2003) |
|
I recently got store credit for some furniture. Can I put that into my bankruptcy? What other credits can I put in or take out?
response from Ann Clarke (July 17/2003) |
|
I'm aware that I may have to declare bankruptcy, for the second time. However, as I have a relationship with a man in England and there is a possiblity that I may want to emigrate there in the future, I have some concerns. In doing some research on obtaining a work visa I noted that if a person is bankrupt they cannot obtain a work visa. I'm wondering then if it possible to emigrate to England on a fiance visa if a person is bankrupt? This is a bit complex of an area but I'm hoping you can help .
response from Ann Clarke (July 16/2003) |
|
My spouse and I recently filed a bankruptcy. Included in the bankruptcy is a loan for $5000.00 which was secured with some old furniture. If they do decide to come and get the collateral, and it is not worth the amount stated on the collateral list, can they go through our house and take other furniture to make up for the difference? What action could they take if any?
response from Ann Clarke (July 14/2003) |
|
I received a copy of an affidavit sent to the courts regarding an application for an order pursuant to sec 68. What does this all mean?
response from Ann Clarke (July 14/2003) |
|
My few assets (including a house) are all in Manitoba yet I recently moved to Alberta to stay permanently. The guidelines for what can be kept or what must be seized by trustee is different in both provinces. Which one would apply to me? Alberta? or Manitoba?
response from Ann Clarke (July 14/2003) |
|
In 1994 I was involved in a small fender bender. At the time I was not driving my own vehicle and the vehicle I was driving was not insured. A few months after the accident I was served papers that I was being sued for damages. At the time I had some debts and was told that if I filed for bankruptcy that any judgements passed against me would be covered in the bankruptcy. I have since been discharged from that bankruptcy. In 2000 the accident was settled and a judgement was filed against me for $195,000. I thought that the previous bankruptcy was supposed to take care of this but I am now told different. I am having a hard time now because of an injury and have been unable to work. Without a steady income I was unable to pay my monthly "Judgement" fee and therefore they suspended my licence. So now I'm in a catch 22 because I can't go back to work without a licence because I have no transportation. I live in Spruce Grove and there is not even a bus that will take me into the city to work. So the question - If I file for bankruptcy again will it cover the judgement or should that judgement have been covered in the first place? Thanks for any advice .
response from Ann Clarke (July 14/2003) |
|
Hi, my husband and I purchased an expensive motorcycle last June. Since then I have lost my job and moved into a lower paying position. We have tried to sell the bike in Bike magazines newspaper ads, etc. It is sitting at a Motorcycle dealers now, we owe 26,500 and are asking 24,500 we have not had any offers and have been trying to sell since Nov/02. Because we have to pay 500/mth for the bike we have racked up our credit card debt.We have never missed a payment we have really good credit but are beginning to feel overwhelmed by debt. If we voluntarily have our bike repossessed how bad does this look on our credit? I know we will have an R8 but what does that mean if everything else is R1?
response from Ann Clarke (July 14/2003) |
|
If you file bancruptcy and then get married, how will this affect your spouse's credit?
response from Ann Clarke (July 14/2003) |
|
On November 1, 2002, I took possesion of a laundromat as a sole propriotor ... I have read the information on bankruptcy and proposals, but it is unclear that a business proposal would be to my advantage since the business is not incorporated. Could you please advise as to what would be a viable option for this case?
response from Ann Clarke (July 14/2003) |
|
My husband and I are filing bankruptcy. I am considering leaving the marriage in the near future. When I leave I may not be able to get a job for a couple of months. How would I be able to pay my trustees when I have no income coming in. I will probably be staying with relatives till I can find employment .
response from Ann Clarke (July 10/2003) |
|
My husband and I are filing bankruptcy. I am considering leaving the marriage in the near future. When I leave I may not be able to get a job for a couple of months. How would I be able to pay my trustees when I have no income coming in. I will probably be staying with relatives till I can find employment .
response from Ann Clarke (July 10/2003) |
|
I have unsecured debt of $57,000.00 and basically no assets,vehicle, rrsp, bonds. Mmy question is what are the chances of there being no objections to my bankruptcy ending in 9 months? It would be my first bankruptcy and I haven't even been late on any bills for 20 years, but me and my spouse split up and I can't make ends meet with my current wage. Me and my son rent a place and I have 44,000.00 unsecured loan and 13,000.00 in credit card debt.People I have talked to say creditors may object and make me stay in bankruptcy until I pay them back.Does this normally happen?
response from Ann Clarke (July 8/2003) |
|
If a joint bankruptcy is filed would it be possible to retain more than one vehicle? I am thinking of one that is owned (less than $5K) and one that would be leased, with payments continuing. It is important as we would both still need to get to work and need transportation (no alternatives) .
response from Ann Clarke (July 7/2003) |
|
I had student loans in Canada and Alberta from 1997-2000. I currently live in the USA and have been here from 1997. I married a US Citizen and have been sitting here waiting for my Green Card for over a year. I have been unable to work since 2000 and i owe over 30,000 in loans from Canada. Now the loans have gone to collectoin agencies and we are trying to pay what we can. Is there anything I can do, such as file for bankrupty? Thank you .
response from Ann Clarke (July 7/2003) |
|
Hello, I have a question regarding proposals. If I have a proposal and during that time I take a loan and it too becomes difficult to make the payments, is it possible to add that loan to the existing proposal? And if not, is it possible to cancel an existing proposal and make a new one that will include this loan (a secured loan)? Another question, is it possible to make a second amendment to a proposal (say I started at $450mo, than went down to $350 after getting it amended, but can't make those payments anymore and would like to request an amendment of $200)?
response from Ann Clarke (July 7/2003) |
|
My husband and I are facing bankruptcy as we have accumulated HUGE credit card debt through job loss, moving costs, repairs to our only vehicle, etc. I am still on maternity leave and we have sold our only real asset (older truck) a few months ago. I've also used up my Canada Savings Bonds and I just cashed my small RRSP to try to meet the bills for another month or two. We are going to have to move again, too, for work reasons. Can we use the RRSP funds to cover our day-to-day bills and moving costs, or will we have to repay the funds into the estate if we declare bankruptcy in a couple of months (very likely)? We also have some sporting and camping equipment, and a couple of bicycles which we use to commute to work (all this not really worth very much to liquidate). Do we lose this equipment and bikes if we declare bankruptcy? We live in Alberta - are these items included in the household goods or clothing exemptions? Are the exemptions of $4000 per category for EACH of us (we would each file for bankruptcy), or are they for the whole family unit? What about the equipment we have for our 9-month-old son (stroller, car seat, crib, clothing, toys, etc.) - will we have to liquidate these essentials (most of which were gifts)? Thanks for your help!
response from Ann Clarke (July 7/2003) |
|
My parents filed for bankruptcy - can that affect my credit (I'm currently 25 years old)?
response from Ann Clarke (July 4/2003) |
|
What are the first steps to claim bankruptcy and how do I find a trustee?
response from Ann Clarke (July 3/2003) |
|
Hi, I was just wondering about the bankrupcy process. I was in the position a few months ago and did not make any payments to creditors and considered getting some credit counseling. However, I now believe my only option is bankrupcy as my income is drastically changing for the worse right now. I am wondering about my bank accounts and whether they are investigated and if so, how far back do they trace - in order to determine if I am eligible for bankrupcy - because a couple of months ago, I probably could have made some sort of payments?
response from Ann Clarke (July 3/2003) |
|
Can you file banruptcy on a checking account?
response from Ann Clarke (July 2/2003) |
|
Can I keep the points (club z, airmiles etc) that I acquired if I file on these credit cards?
response from Ann Clarke (July 2/2003) |
|
Is it okay to file for divorce during banruptcy?
response from Ann Clarke (July 2/2003) |
|
I am in the middle of divorce proceedings. My husband signed over his half of the house prior to commencing his bankruptcy. His statement of affairs indicated he had no assets and that the house was in my name as I had always and would continue to make all mortgage payments. A separation agreement was drawn up which confirmed the house was mine.We are not sure if the separation agreement was signed before or after he commenced bankruptcy. He is now trying to claim half of the house saying that he should not have signed over the house. My understanding is that any interest he had would have vested in the trustee. A family law judge said it depends on when the separation agreement was signed, i.e. before or after he commenced bankruptcy proceedings, but he wasn't sure. Do you know the answer to this question? Are there any cases on this subject that I could refer to?
response from Ann Clarke (July 2/2003) |
|
I have a car loan and a holiday trailer loan that I can't afford to make the payments on anymore as I have lost my job. Do banks take back the property and cancel the loan? I know that this will hurt my credit rating, but not as bad a bankruptcy. I was wondering if this was an option. Thank you .
response from Ann Clarke (June 30/2003) |
|
I have a Canada Student Loan which I have been paying on since 1992. I am residing in the state of Texas and have been since getting a job after graduation. Due to financial problems, I have not been paying my full amount owed for my Canada Student Loan for the last few years. I do send post dated cheques but all I can afford is 75.00 U.S./month presently.Due to an illness that I have, I am unable to work full time so I just work part time because of this. My question is this, I have been paying for my student loan for over 10 years now. Is it possible to claim bankruptcy in Canada if I am a resident of the U.S. now and receive only wages in the U.S.? I have a great credit rating in the U.S. and would this affect my U.S. credit rating here? Can the Canadian government garnishee my wages in the U.S.? Thank you .
response from Ann Clarke (June 25/2003) |
|
After going through your site I am still not sure whether a bankruptcy absolves any personal incomevtax owed, also GST owed. If it does, then I will need to declare asap. Thank you in advance .
response from Ann Clarke (June 25/2003) |
|
I have recently married a man that claimed bankruptcy with his first wife, 8 yrs ago.
He has just lost his job and we owe $66000.00 on the house, 22000.00 on a car, 17000.00 on a truck, 15000.00 on a holiday trailer, 24000.00 line of credit and some other bills.
My question is: Can we file for bankruptcy, even though he has filed once before with a different wife? Or can I file alone and on the things that are in both of our names?
response from Ann Clarke (June 18/2003) |
|
I filed a chapter 7 bankruptcy. Is filing bankruptcy the same as having a judgment. I recently filled out a credit application for a loan. The loan officer checked judgment as well as bankruptcy. judgement was listed on the same line as garnishment , attachment, foreclosure, repossession,collection action or judgment. I explained to her I had no garnishments foerclosurs repossessions or collection actions. She said bankruptcy and judgment was the same thing .
response from Ann Clarke (June 17/2003) |
|
I receive weekly wages by direct deposit. I am concerened that my creditors seize the deposits. Is it legal to ask my employer to deposit my wages into a friend's account (as long as the friend agrees)? and can my creditors seize this account too?
response from Ann Clarke (June 17/2003) |
|
I would like to declare personal bankruptcy in Alberta but I have sinced moved to Ontario with my parents as I have no money to stay in Alberta. I was in a serious car accident in Alberta in November and am no longer able to work and haven't since the accident. Can you please tell me if I can accomplish this from Ontario or must I return to Alberta?
response from Ann Clarke (June 17/2003) |
|
I will be out of my seven years "quarantine" after my bankruptcy soon. Can I be named a director of a corporation prior to the expiration of the quarantine period?
response from Ann Clarke (June 17/2003) |
|
I recently permanently moved to Alberta and have found the need to declare bankruptcy. Most of my belongings and all of my debts are from another province which I do not plan to return to. Where do I claim bankruptcy? Can I do it in Alberta or is there a residency requirement?
response from Ann Clarke (June 16/2003) |
|
Issues have come up reguarding my personal credit, and they have far exceded my financial limits, and feal bankruptcy to be my only option. I am currently in a relationship, and do share a bank account, as well as a few bills in both names(which I would not want to claim). Anything I would be looking at claiming are pre-existing to our relationship, and do not have his name on them at all. Thus not his responsibility. One of the creditors(HFC/Patriot Computers) I would claim towards was in joint with my mother. She has, in the last 6 months, declaired bankruptcy, and they have been informed of this. This was for a computer for her, so nothing I even posses, as I was just a signer to aid her in the purchase. There were also never any papers signed(ie-contract), so I would like to know how that would effect the situation as well. What would be considered a binding agreement in this? Can they still pursue me even though she has filed bankruptcy, and reported this to them? Your aid in these questions would be met with extreme gratitude. Thank you for your time, and I will be in touch in the near future .
response from Ann Clarke (June 16/2003) |
|
I am currently filing for divorce. I live in Edmonton, AB ... Will I be able to keep my vehicle? A car cannot hold 4 children plus myself? What would the trustee payment be? My husband does not want to sell his vehicle and trailer. But I cannot make the payments. What happens to him if I declare bankrupcy? What are my options? What kind of rental housing can I look for for a family of 5 after declaring bankrupcy? What should I be budgeting for? What are my options?
response from Ann Clarke (June 16/2003) |
|
I am a twenty-five-year-old student who has returned to university. I brought substantial credit card debt ($6000) back to school with me and it has become unmanageable. I am wondering a) What effects declaring bankruptcy would have on my ability to remain at school and recieve student loans? and b)What other options might I have? I do work, but my student job barely covers my living expenses .
response from Ann Clarke (June 16/2003) |
|
My ex-husband was discharged couple years back and the trustee still has not attempted to contact me regarding a house sale that has no mortgage and was jointly owned. Is there a time limit where all the bankruptcy processes end?
response from Ann Clarke (June 16/2003) |
|
Can you advise if a bankrupt individual is expecting an amount of
money on the settlement of a lawsuit, and the bankrupt is scheduled for
discharge on Aug 1 but the settlement monies may not be paid to the
trustee (or bankrupt) until Sept 1, will the discharge still go through on
Aug 1? Would the bankrupt individual then not have to pay the settlement
proceeds (settlement was listed on Statement of Affairs but no amount
indicated)to the Trustee/creditors or would the discharge be delayed?
response from Ann Clarke (June 10/2003) |
|
Can a company get a wage assignment from a status indian?
response from Ann Clarke (June 10/2003) |
|
I cosigned a mortgage that forclosed in 1990 (Ontario). No attempt to contact me has been made until now (14 years later). Is there not a statute of limitations in this case? Can they legally hold a debt over someone indefinitely?
response from Ann Clarke (June 3/2003) |
|
My common law partner is unable to afford the monthly support payments
for a child in a previous relationship in Ontario. And his current situation
has changed drastically since the first support order was drawn up in 1994. He
now supports three children in our current home. He has tried lowering his
payments through a 3 year court process but was denied and now has to pay his
ex partners lawyer fees of $7000.00 his total bill with arrears on support is
$22000.00 and growing each month due to his support payments being $500.00. We
have fallen behind in a lot of our loans and the payments to everyone has just
gotten out of hand. He wants to file for bankruptcy. Will this include support
arrears and lawyer fees? Who should be priorty with payments? Help! Drowning in Alberta .
response from Ann Clarke (June 3/2003) |
|
Thank you for answering my question about the discharge of trustee. But I need to know how I can go about fixing this problem and have a trustee again .
response from Ann Clarke (May 30/2003) |
|
If I make $60k /yr and owe about $35,000 in credit cards and $4000.00 in a loan, can I do a proposal? I pay all of the bills in time but my balances never go down because it's like $1500/mo in minimum payments. Also how would one of my Visas be affected - I am a cardholder on my Dad's Visa which he hasn't used in 5 yrs which is $15,000 of my debt (all mine). I'd like to get this all resolved without involving him. Also I have a lease through Mazda Canada credit. Can I keep it? Also have a bunch of home theatre stuff ($4000.00 tv, $1800 receiver and so on. ) Any help would be appreciated. Thanks.
response from Ann Clarke (May 30/2003) |
|
If I file bankrupcy do I have to be current on my rent or does my filing allow me to remain in possession of my rented home without paying any rent until the bankrupcy is decided?
response from Ann Clarke (May 29/2003) |
|
I have around $8000 in credit card bills, a vehicle worth $23,000 which I still owe 20,000 of back taxes, and no job. I also have a gambling problem. Most of my credit card debt is because of this and has occured within the last few months. Can I still file for bankruptcy?
response from Ann Clarke (May 29/2003) |
|
I am considering bankruptcy. What are the "qualifications" or guildlines one has to meet before being considered for this and will it affect my wife's credit?
response from Ann Clarke (May 29/2003) |
|
I have been in bankruptcy for quite a few years now and have not been able to pay the trustee fees. I have just found out that my trustee discharged themselves. I have no idea what this means for me. Please help .
response from Ann Clarke (May 28/2003) |
|
At the present time I am in the process of divorce. My husband had a business during the time we were together. We have been separated for 1.5 years now. During this time he has maxed out approximately 5 credit cards, sold his shares of his business and now has informed me that he is going to file for bankruptcy. How will this affect property owned together? Can he file while in the process of divorce?
response from Ann Clarke (May 27/2003) |
|
I am backed up on credit card bills, and owe about $3000 to people. I am only 18, almost 19, and in college full time. I can't pay all this, and I am left feeling sorry for myself and feeling stupid that I could ever get myself in a situation like this. I read all the other inquiries, and I feel ashamed to even ask a question like this over $3000 because there are people out there that owe sooo much more than that. But I feel I have almost no other choice .
response from Ann Clarke (May 27/2003) |
|
I am thinking of filing for bankruptcy. I am currently unemployed, owe $550 in taxes, $650 in back payments for a school grant, $7500 in credit card and a co-signed loan for $8900. I bought a vehicle a few years ago for $26000 and still owe around $20000. How will bankruptcy effect these costs. I was thinking of using a credit card to pay off the loan first so that the co-signer wouldn't be effected. Is this possible or is this fraudulent. Also I will be going on a vacation this summer, however, the plane fare and travel expenses are being paid for by someone else. Will this be questioned?
response from Ann Clarke (May 23/2003) |
|
I own a 2002 Honda Accord and find it necessary to file for bankruptcy. Can I get rid of my leased car through bankruptcy?
response from Ann Clarke (May 23/2003) |
|
My husband is a Canadian citizen and Permenant Resident of the USA. I am a US citizen and Permenant Resident of Canada. My husband and I resided in Calgary, Alberta, Canada from 1999-2002 during which time my husband lost his job and we accumulated significant debt. We are now residing in Florida because we could find employment. Can we use a proposal or bankruptcy for our Canadian debts as we are having a lot of difficulty paying them?
response from Ann Clarke (May 21/2003) |
|
I own a house with a large mortgage still owing on it. I also have a car which I own. I have a 15,000 visa loan and my wife has a 2,500 visa loan, plus we have a 28,000 dollar bank loan which we both had signed for. If we claim bankruptcy, do we keep our car and our home? (the home is mortgaged through the same bank, but the car was not used as collateral for any loans.) I am on Canada disability pension; is this affected also, or can they not touch my pension?
response from Ann Clarke (May 21/2003) |
|
I recently had some major transmission car repairs done on our vehicle. This is the only vehicle we have for my husband to commute to work, so we had no choice but to have it done. It was financed through a local company that puts a lein on the vehicle as a security for the loan. Can they take our car if we were to declare bankruptcy? Is the lein removed?
response from Ann Clarke (May 21/2003) |
|
I was wondering if NSF cheques written for groceries would be included in a bankruptcy? They were written with every intent on paying, but when the pay cheque came in and was lower than expected, they bounced! I could see how this would be perceived as being fraudulent, however, that truly was not the intent...does it matter?
response from Ann Clarke (May 21/2003) |
|
We purchased several household furnishings on our Leons and Brick Cards about 4 months ago on a "do not pay for 15 months" contract. We did not know at that time that we were soon facing a bankruptcy. Can Leons or the Brick come and seize the furniture? Also, you are allowed in Alberta $4000 in house hold furnishings if I remember correctly...is that $4000 for each person living in the home or $4000 total for everyone in the house?? Please help!
response from Ann Clarke (May 21/2003) |
|
Until last year, I operated a sole proprietorship with a registered a GST number. My books were non existent though and I never knew how much tax to remit to CCRA. I finally got help with the books and rolled the company into a corporation which passed a CCRA audit this year. Problem is that now CCRA wants to collect taxes from my proprietorship. I have never filed an income tax return before and never filed or remitted the GST (although I collected GST from my clients since 1998).They are assessing GST of about $48,000 and income tax arrears of about $90,000 and they are moving ahead with garnishing my wages. My first question is: Will bankruptcy remove the GST amounts owing? Also, the assessment is only from 2000 to the present. CCRA doesn't seem to realize the company was operating since 1998. Should I file income tax returns for 1998 to now in case they come back with an additional assessment for 1998 and 1999?
response from Ann Clarke (May 20/2003) |
|
I have about $70,000.00 in student loan debt and cannot make the monthly payments. I know I cannot apply for bankruptcy on student loans. Is there any other options? If I was to go the OPD route, what are the long term negative effects of applying for the OPD program? I am concerned about not being able to get a morgage due to a poor credit rating. Thanks for your help.
response from Ann Clarke (May 20/2003) |
|
I have been discharged from Bankruptcy since November of last year. Would I be able to apply for a studen loan still?
response from Ann Clarke (May 20/2003) |
|
I am submitting this question on behalf of my mother. She and my father are separating as of June 15, 2003. They have sold their home and each will receive approximately $35,000.00 cash from the sale. My mother has accumulated $20,000.00 in credit card debt over the past several years. She is receiving a disability pension which gives her $1100.00 per month. Her vehicle is old and likely valued at approximately $1000.00. The $35,000.00 in theory will be her life savings with the exception of approx. $8000.00 in RRSP's . Her possessions are minimal. She is 63 years old and is planning on moving into Government subsidized house in a small rural community. I have two questions.... If she files for bankruptcy is she able to retain the $35,000.00 she will receive from the house sale? AND What would be her best option?
response from Ann Clarke (May 20/2003) |
|
If the creditors won the personal bankruptcy declaration, are they entitle to request to either the present or the future employer, if currently has no employer to garnish wages?
response from Ann Clarke (May 14/2003) |
|
I am thinking about bankruptcy and was woundering how does the payment thing work with the trustee? Do they take an automatic deposit out of you account every month? If you earn a little extra like 100.00 over the surplus amount allowed, how much of that do they take, if any of it? How much money do they allow you per month for food for a 3 person family? Do you do monthly cheques or how does that work?
response from Ann Clarke (May 14/2003) |
|
Can you tell me what the difference is between companies that you file bankruptcy with? There are just so many out there. Is there some better than others or is there some stuff that some of them do that you have to watch out for?
response from Ann Clarke (May 14/2003) |
|
My husband and I are considering bankruptcy here in Alberta. My question is...accroding to the person that I talked to on the phone we would have to pay to them $400.00 / month for the 9 months. That would leave us with about $500.00-$600.00 extra not including food, gas, entertainment ect a month. Would we be able to put this in a savings account or would they take it? Another question that I have is, my husband may be getting a layoff in about a week or so; if we file prior to that, would they look into what we are paying them and lower our payment if we were having trouble? I also need to know that if they do a layoff with my husband and we are in bankruptcy, will they take the lump sum that is paid out to him prior to unemployment kicking in?
response from Ann Clarke (May 12/2003) |
|
Am I still able to obtain a holiday working visa for the UK if I file bankruptcy?
response from Ann Clarke (May 12/2003) |
|
I am going to file for bankruptcy but I was just wondering if I was
going to have to give my 2003 Honda Civic back. I have made the payments on
time.
response from Ann Clarke (May 9/2003) |
|
Can I still file a bankruptcy even my credit cards bill went to
collection?
response from Ann Clarke (May 9/2003) |
|
Can I file joint bankrupcy with my ex husband, even though I'm already
married to another man? But my credit cards last name still on my ex husband
name, the credit is only mine not my ex husband's.
response from Ann Clarke (May 9/2003) |
|
My spouse and I are in the process of a divorce. My spouse wants to file bankruptcy on pre-marrital debt and half of the debt that he will have to pay in the divorce. Can this be done and not affect myself? I have filed bankruptcy about 5 years ago and I am not willing to do it again.
response from Ann Clarke (May 8/2003) |
|
Hi, I'm thinking of filing for bankruptcy since all efforts to negotiate for a repayment scheme has failed. The bank has issued a Writ of Seziure and Sale. My husband has paid for almost everything that we have in our house with receipts to prove that the he had bought the items. Will the items still be seized? What items are excluded? Can I still file for bankruptcy while waiting for the actual seizure to take place? Your help in answering these questions is very much appreciated. Thanks.
response from Ann Clarke (May 8/2003) |
|
We co-signed a mortgage with my in-law, which she let go into foreclosure in 1990. Now in 2003 CMHC is coming after us and stating that we owe $15,000 plus $60,000 in interest that has accrued since 1990. Do we claim bankrupcy or is there a statute of limitation on how long CMHC can hold a debt over a person?
response from Ann Clarke (May 8/2003) |
|
I am married with 2 children, 11, 19, both in school. My wife has no income and I receive Ont. Disability & CPP Disability. I owe $1,2000 in credit card debts. I rent at $840 & I receive $160 per month. We did go bankrupt about 17 years ago. What's our best hope? We live in Ontario.
response from Ann Clarke (May 8/2003) |
|
I am a cabinet installer that hasn't looked after his income tax in 4 years. I finally went to see an accountant to find what I owe. Turns out to be $30,000 plus GST. I have my 4 year end T1 complete from an accountant but want to know if I can file bankruptcy because I can't live on nothing, if I have to give the government every bit of my pay other than my rent.
response from Ann Clarke (May 6/2003) |
|
I am a self-employed truck driver and I have a loan for $9,000.00. I also have a line of credit for $20,000.00 to cover the truck as well. We are behind almost three months on our mortgage; our monthly bills are running behind, and we owe $10,000.00 in C/C. If I haven't filed the last two years of Income Tax, will it still be covered? What about if we want to keep our cell phones? Would we be able to keep the truck as it is comploetely work related? It's a 5 Ton, and it is never used as a personal vehicle. Please help!!!
response from Ann Clarke (May 5/2003) |
|
My question is I been discharge from Bankruptcy, and I got the trustee to do my post Bankruptcy 2002 income tax. Will I be able to get my tax and GST refund for that year?
response from Ann Clarke (May 5/2003) |
|
I was recently accepted into the Canadian Armed Forces. Prior to being accepted, I filed for Bankruptcy protection in Calgary. My questions are ... Can they refuse my application because I filed for Bankruptcy?
Do I have to inform them that I filed for Bankruptcy protection? I am not sure what to do. This is a dream of mine and to be refused after 1.5 year application process would be devastating. Filing for Bankruptcy will help me start over, nad not make the mistakes that I made in the past. Thanks in advance for your help.
response from Ann Clarke (May 5/2003) |
|
Is it possible to declare personal bankruptcy while I am still employed? We had our house forclosed during the teacher's strike. We had a caveat on our house which was not covered by the sale of the house. This became immediately payable. The creditor was unwilling to deal with us and a garnishee was placed on my salary. My husband is not working and they are garnisheeing $1,300.00 from my monthly cheques. I can no longer pay any of my other creditors, and I am struggling to just pay my rent and car expenses so that I can continue working and feeding my family.
response from Ann Clarke (May 5/2003) |
|
Will there be any changes to bankruptcy laws as far as student loans are concerned (e.g. reducing the time limitation to 5 years?) or is this unlikely?
response from Ann Clarke (April 30/2003) |
|
Thank you for answering my previous questions. As I move closer to filing, I need to ask a few more. As I live in Banff I cannot use your toll free line. Do I have to come to Calgary or is there a consultant from your firm in Canmore or Banff? After doing an assesment of my personal effects I am worried about my poster and video collection. To the best of my appraisal I have reached a figure of 2680.00 including t.v. and vcr cd's etc.. This was based on a form aquired here in Banff. The package also stated that the fees involved are $1560. Is your fee charge the same or less? since 2680.00 of personal effects is less than the $4000.00 I am entitled to, are these posters and videos safe if I go through bankruptcy? Thanks.
response from Ann Clarke (April 30/2003) |
|
I will be claiming bankruptcy in the next few weeks. I have recently started a new job that has a 6 month probabtionary period. I am worried that my employer may find out thru my current bank (Royal Bank)that I am in arrears, threaten to garnish and could cost me my job. I want to open a new account with another bank for direct deposit, no credit or anything else. I live in Calgary and have tried Calgary 1st Savings and was refused. I also owe approx. 35k with CIBC being another creditor. What/who would you suggest in this matter? I am thinking about ATB.
response from Ann Clarke (April 30/2003) |
|
I have filed Bankruptcy in Sask. I incurred the debt in Alberta however. My question: My mother was co-named on a credit card that was included in the bankruptcy. She never used the card. It was a convenience purpose for purchasing for my business. Can the credit card company legally come after her? I had removed her from the card prior to filing but conveniently they have no record of that conversation on their system.
response from Ann Clarke (April 29/2003) |
|
In July 01 I was laid off my job, went back to work in Feb 02. I had to move to a different province to live with family. I am a single mother of one child. I owe about $32,000+ in credit card debt. I make decent money at my job(1700 net/mth) but it is taking everything I make to pay the bills every month. My question is, if I did Bankruptcy, could I move out of the province before the discharge and would it be better to file bankruptcy or to do a proposal? I can't get a loan anywhere but the credit card companies just keep upping my limit all the time. The debts are small amounts on several cards. Thank you for your time.
response from Ann Clarke (April 28/2003) |
|
I am thinking about filing for bankruptcy. I owe about $60,000 on numerous credit cards. One card is from the bank that holds my morgage. It is locked in for 4 years. Will they be able to make me sell my house (house worth 160,000-170,000--- I own about 15-25 thousand of it--It is CMHC approved). My debit has accumulated quite fast over a short period of time (16-24 months) due to some personel problems. I am getting help now. I never had gone so far into debt in my life. I also own a 95 chev cavilar it was paid for many years ago but worth maybe 3-4k but I have it as security on a 11,000 dollar line of credit will that be seized as well? (it is my only way to get to and from work). I make around 55k a year and wonder if this might not be enough to talk to my creditors about a deal? Your time and effort will be greatly appreciated. I have read how you have helped so many people on this site--- it helps take some of their worries away. Keep up the good work.
response from Ann Clarke (April 28/2003) |
|
Hi, if I claim bankruptcy will they take my tax refund and GST cheques? And if they do, is it just for one year or how does that work?
response from Ann Clarke (April 28/2003) |
|
I just filed for banruptcy, and after the trustee meeting I found a credit card that I haven't used yet. Is it ok for me to use it or maybe I should wait sometime first, but I don't want to wait because I am afraid that it will be cancelled.
response from Ann Clarke (April 28/2003) |
|
Can you tell me, please, when I declare bankruptcy, do I stop trying to make the payments to a credit card the day I enter bankruptcy?
response from Ann Clarke (April 28/2003) |
|
Are the individual charges on a credit card looked at to see what was spent, how, when, and where, while in declaring bankruptcy?
response from Ann Clarke (April 28/2003) |
|
I understand you are allowed to keep certain things when going through bankruptcy. How would a video collection fit in to this scenario?
response from Ann Clarke (April 24/2003) |
|
My husband of 10 years has been retired for 7 years now and his source of income is from his pensions (CPP and OAS). Before we were married he helped his friend and signed a mortgage for him (big mistake!). My husband tried to make payments but eventually could not. Since last year, a collection agency for CHMC has been harassing and threatening him for amount over $34K. Prior to serving him, his brother decided to put their names to their 89 year-old mother's properties. So now this collection agency is trying to sell the property that has my husband's name together with his mother's in the title. My husband does not have any assets except for the spousal RRSP that I bought for him last year and some years ago. He's thinking of filing for bankruptcy because I refuse to help him. How would his mom's property be affected? Would he lose the Spousal RRSP? And is it possible for me not to get involved in any way at all from the start of the bankruptcy process to the end?
response from Ann Clarke (April 24/2003) |
|
My husband is in bankrupcy and I was wondering what would happen if he came into an inheritance after his nine months and bankrupcy discharge.
response from Ann Clarke (April 23/2003) |
|
My fiance and I are living with her mother. Her mother's debt load is so large that we were thinking of selling her home, and she would give us the money left after paying bills to use as a down payment on another home but in our name. However, my fiance's mother has just been contacted by an agency over an $11,000 cosigned loan that has been unpaid for over 6 months. If she declares bankruptcy now, would she be able to keep her home, and then sell it afterwards? (She still owes about $25,000 on the mortgage, and her home is worth about $85,000)
response from Ann Clarke (April 23/2003) |
|
My husband declared bankruptcy in 1995, before we met. He made the payments and received a letter explaining his discharge at the end of 9 months, early 1996. He took this to mean he was discharged and not knowing any better, moved on. We got married and moved to Ontario in 1997. We recently did a check on our credit reports and have found out that he is not discharged, due to a creditor contesting. Looking into it, we have found out that he would owe what seems like an arbitrary number the trustee chooses. He claimed for only $1500, but it looks like he may have to pay up to $1000 to get it discharged. If he has already made the monthly payments, what can we do to get rid of this without starting over?
response from Ann Clarke (April 21/2003) |
|
How does bankruptcy affect my RRSP?.
response from Ann Clarke (April 15/2003) |
|
I am thinking about filing for bankruptcy and I am wondering if I do will that cover fines that I owe the court? It is approximately $1,300.00. I also owe the Receiver General for employment insurance over payments and Revenue Canada for taxes. My wages are getting garnished already and I am wondering if it is in my best interest to file for bankruptcy or try and do the OPD plan. Thank you for your time.
response from Ann Clarke (April 15/2003) |
|
I currently am on WCB, soon to be looking for a new job as my current
employer informed me they will not be renewing my contract at the end of April.
I owe $4000 in credit card debt, I owe $4000 on a car that isn't even worth as
much. I owe $1000 to a financing company that for my computer which I make
payments to every month. And my telus bill is adding up as I cannot make the
full payments. I have been making partial payments and it keeps getting
higher. I was in a car accident last year so my insurance premiums will be
increasing substantially this year. And my boyfriend and I are hoping to buy a
house within the next year or two. First... which of these debts are covered
in bankruptcy? Second... if my phone bill is covered, do I still keep the
service? Third... if the financial company is covered, do I lose my computer?
Fourth, how will this affect my credit as far as a mortgage in the near future
is concerned? I want to start fixing my credit, but I can't until I get this
debt under control.
response from Ann Clarke (April 15/2003) |
|
I have 2 credit card debts totalling $8000, that are now both in
collections due to recent pay cuts at my employment. The one in question
is with American Express ($3800) as their collections lawyer is always
calling and bugging me for payment in full. I cannot get a personal or
consolidation loan, even with a cosigner, as I missed 3 months of
payments. I told him I have to file for bankruptcy, and he said that he
"wouldn't let me do that" as he would contest the bankruptcy. He is now
trying to contact my payroll for garnisheeing of wages. What is contesting
the bankruptcy, and what can I do at this point? Thank you.
response from Ann Clarke (April 15/2003) |
|
My boyfriend is currently going through a divorce. He has a two
year old son, which his wife moved to BC with after they split. His
current income is $2000 per month net. They have put forth a court order
that forces him to pay $425 for childsupport (which he agreed was
appropriate), and $565 alimony. (they were only married five years). It
seems the courts didn't take travel expenses to see his son into account.
He owns a new car, valued at around 23,000, with almost no equity. He has
a visa maxed at $5000, and a line of credit for $10,000 that is nearly
maxed as well. With the remaining $1000 that he has for himself, his car
payment is $350, rent is $400, insurance is $150, and gas $150 he is going
into debt without even being able to afford food. I know that
child support won't be affected... but what about the alimony? He's
suffering and she chooses not to work so will he have to continue to
support her even after bankruptcy?
response from Ann Clarke (April 15/2003) |
|
After 7 years of separation a judge has awarded retroactive child support to the ex in the amount of 15k with a demand for payment just 30 days away. The legal fees are about 25-30k. I own a car (3,500) but have no other assets or debts (credit is good). Income was under 10K in a small business. I am remarried and my wife has a good paying job, rrsps and a house in her name. How would bankruptcy affect this?
response from Ann Clarke (April 10/2003) |
|
Hello, My husband and I were on the verge of declaring bankruptcy (within the next couple of weeks) and his mother has just died. He will likely inherit some money from the sale of the apartment, but that could take over a year and we will not survive in the meantime. Will we have to turn over the money if it is received 12-15 months from now? Will the creditors refuse discharge if they know this money might be coming? Thanks.
response from Ann Clarke (April 10/2003) |
|
I have applied for bankruptcy for two credit cards, a Sony card and bank overdraft. I have to pay a monthly fee of $150.00. Now I have the Financial Recovery Systems Default and Investigation Division after me because when I was down and out with no job I did a stupid thing and deposited a blank cheque into my account for eight hundred dollars so I could pay my rent. I realise that I can't add this situation to my bankruptcy claim and I am afraid that they will garnishee my wages. They sent me a notice stating that they know I'm employed and that I need to pay within 48 hours. I'm barely making ends meet now as it is. I'm afraid to call them. I really don't know what to do. Can you please help?
response from Ann Clarke (April 9/2003) |
|
My husband has considerable debt, mostly credit cards due to keeping his business going. If he was to claim bankruptcy what would happen to our house which is jointly owned? We owe about $117,000 and the value is approx. $160,000. Also what can we do to stop the interest on the cards till they are paid off? Can we try to settle on a lesser amount that what's owing now? He owes approx $50,000 in cards. We have already been turned down by the bank to get a loan to cover them.
response from Ann Clarke (April 7/2003) |
|
I am going through a divorce and my husband has been gone
for a year and has maxed all the cards. I am living in the
house and making all the mortgage payments and paying all
the bills. He said I will lose the house and my car and
my snow mobile when he files for bankruptcy.
What can I do?
response from Ann Clarke (April 7/2003) |
|
My mother fell ill in September 2002 and lost her job and lost her medical benefits. Since this time she has lived using her credit cards to pay for her home and food and bills. This spirals naturally. Family is not in position to help due to similar distress. If she files for bankcruptcy, will her debt burden be removed? Will she be able to stay in her little home if filing for this... and what are the long term negative consequences for her being that she is 55 yrs old? Thank you.
response from Ann Clarke (March 31/2003) |
|
I am separated from my husband. I am claiming bankruptcy as there is no other alternative. My husband and I are owners of a NY co-op of which he resides in. Can my creditors take away this property? What can I do if they can?
response from Ann Clarke (March 31/2003) |
|
My husband and I declared bankruptcy last year. We has 4 job losses between us and couldn't manage. When we filed with the trustee we also filed a form to declare a disability for our disabled kids. Well it was approved by Revenue Canada and they went back over our income tax for the last 6 years and we got a refund of nearly $10,000. Or we would have except they sent it to the trustee. Can they legally seize this money? isn't it for my kids, who could use it for their school tuition and special programs? Can I appeal this?
response from Ann Clarke (March 25/2003) |
|
I am in huge debt with two credit cards one for ten thousand the other for two thousand. I also have a debt of two thousand for bank overdraft and a sony card for a thousand. I was basically using my credit cards to pay my rent and food when I lost my job. When the money ran out I did a terrible thing and wrote a bad cheque for eight hundred dollars and deposited into my account and took out the money. I have dodged the phone calls from my bank and have avoided contacting them. If I apply for bankruptcy will they be able to do anything about the bad cheque incident? Thank you for your time and help. Also how do I find out how many creditors are after me and exactly who I owe?
response from Ann Clarke (March 24/2003) |
|
I filed for bankruptcy, my first meeting of the creditors is scheduled for April 29, 2003. Can I use a credit card before this date, or must I wait until after the meeting?
response from Ann Clarke (March 24/2003) |
|
I am on the verge of settling a lawsuit that a common-law spouse has commenced against me in Alberta. I am on the verge of signing release documents and sending money to her lawyer when I found out that she filed for bankruptcy in Quebec (where she fled from her creditors in Alberta)in November. Does she have the authority to sign a release while in bankruptcy? There is a good chance she has not advised her Legal Aid lawyer about the bankruptcy or her trustee in Quebec about getting this money. I would think that her lawyer would have had to disclose this if he knew and it has not been mentioned in any of her affidavits. Am I at risk if I don't receive approval from her trustee in Quebec?
response from Ann Clarke (March 24/2003) |
|
I currently live in Alberta and incurred $5000 in student loan debt a few years ago, while living in Saskatchewan. Will filing for bankruptcy remove this debt?
response from Ann Clarke (March 21/2003) |
|
I am considering bankruptcy in Alberta because I owe over 20,000 in unsecured debt (mostly credit cards) and over 15,000 to CCRA for personal income tax and GST. GST is owing from GST I collected in real estate deals last year less GST paid. I am a Realtor. Would all of these debt be included in bankruptcy?
response from Ann Clarke (March 19/2003) |
|
My husband filed Chapter 13 and it is showing up on my credit report. It seems like I filed, I never filed Chapter 13. I'm trying to purchase me a car, It's kind of hard since his Chapter 13 is showing up on my credit report. what can I do to get this solved? I wrote the credit bureau, I'm disputing this matter. I haven't heard from them yet. Please let me know if you have any infomation regarding this matter.
response from Ann Clarke (March 19/2003) |
|
My husband was discharged from his bankruptcy in November of 2000. What should be on his credit report? All the debts that were included in his bankruptcy still show up on the credit report, and I am wondering if that should be. There are also two "collections" on there that were filed before his bankruptcy. How long will these stay on there? I know for a fact that his trustee has not paid out the creditors yet.
response from Ann Clarke (March 19/2003) |
|
I filed this 13 Febuary 2002 which included my 2001 real estate taxes. It is now 2003. I haven't paid my taxes for 2002. can these taxes be added to the chapter 13? Can my house be sold for my 2002 taxes? Another question how long does it take to be dischared from the chapter 13?
response from Ann Clarke (March 19/2003) |
|
I have two questions. I currently have $75,000 in credit card debt which was built up over the 12 months trying to build a business. This business has failed and I have come to the realization that I will need to file for bankruptcy. I am married and my spouse has a very good credit rating.. how will this affect her? Also, I am purchasing goods on some department store cards knowing I cannot pay them back, will this be set aside? Secondly, I have a civil judgment against me as a result of a settlement and one stipulation was it would survive bankruptcy.. Can I sign my rights away like this?
response from Ann Clarke (March 17/2003) |
|
I currently work for an employer and earn $40,000/year. The last 3 years I have also had a sole proprietorship business that my husband and son ran, I had nothing to do with it except it was in my name. The company was mismanaged and owes CCRA $42,000.00 for Source deductions and $16,000.00 for personal taxes based on the companies income. The company still functions under my son's name now which is who would pay this debt but it is me that CCRA is coming after. The company is very very slow and can not afford to pay much towards this $60,000.00 debt. I also am owner and director of an incorporated company that no longer exists that owes CCRA $8500.00 for Source deductions and $6100.00 for GST. If I file for personal bankruptcy will ALL of this money owed to CCRA be wiped out or will I have to have my corporation file for bankruptcy as well to wipe out that portion?? Please help!
response from Ann Clarke (March 17/2003) |
|
We declared bankruptcy in Oct. 2002. We need to move to Manitoba to be able to afford to live. Can we fully purchase a property in MB with the equity, which is less than $40K, from our home here before we are discharged? We have been told that in MB the exemption is only $3000.00 on real estate. Would the difference go to the creditors? Or are we only subject to AB's exemptions because that's where we filed? Do we need to inform the seller that we are undischarged bankrupts if there is no mortgage?
response from Ann Clarke (March 17/2003) |
|
I had a wage garnishee put on me which my employer has fully complied with the court orders for me to repay back $8001.50. I have paid it off and now they are saying that I still owe them $1089 plus their lawyers costs. What are my options in this matter?
response from Ann Clarke (March 17/2003) |
|
My ex common-law wife of 6 years recently filed a civil suit against me in Alberta and I was forced to hire a lawyer. If she gets anything close to what she wants I will have to claim bankruptcy? Will this help with the impending judgement? What will I have to pay? what will I be able to keep? How much of my pay will I get to keep? will I garnish it? As my pay is mostly on a bonus scaleit varies greatly from week to week.
response from Ann Clarke (March 17/2003) |
|
If I declare bankruptcy will I lose my car if I can pay for it?
response from Ann Clarke (March 13/2003) |
|
I filed bankruptcy in 1996. I need to obtain papers showing schedule of creditors & discharge.
response from Ann Clarke (March 12/2003) |
|
Hi there, we are going to be claiming bankruptcy soon. We have some clothing etc that we were going to consider putting through a consignment shop of selling out directly. Are we allowed to this and keep the profits? Or do they have to go to the trustee?
response from Ann Clarke (March 11/2003) |
|
If I claim brankruptcy will I lose the ability to be bonded? Also I would like to know if I would lose my house. I only have about $12,000 in equity.
response from Ann Clarke (March 11/2003) |
|
Hello, I have unfortunatly had to file personal bankruptcy in 1996. Since then I've had a hard time to acheive credit so that I could rebuild my credit and you can't blame them. What I was wondering is I've been approved to lease a car with the finances being available from TransCanada. I've leased the vehicle since Sept/02 and have made payments on time all the time. I'm not going to mess up this time but what I was wondering is will this re-establish my credit or after the 72 month term they will just thank me for all payments made? Will I be able to deal with a bank later on after this car is paid off so that I will be able to get lower interest rates so that maybe I will be able to purchase a home> Please reply. Thanks for your time.
response from Ann Clarke (March 8/2003) |
|
If I have a lease on a car (not owned), if I claim bankruptcy am I able to keep the vehicle lease arrangment - meaning keep paying the monthly payments? Or will I have to return the car? I can still afford the payments and the reason for the bankruptcy is income taxes only (that is my only debt). Also, my wife owns the house and the current vehicles (I have no assets in my name). If I claim bankruptcy, will she be affected? Meaning, since she owns the house (including the equity as she purchased the house before we were married). Thanks for your time.
response from Ann Clarke (March 6/2003) |
|
My husband and I are separating due to his inability to handle credit cards. We own a house together in which there is $70,000 in equity. There is a secured line of credit on which we owe $35,000 from the last time I consolidated and paid off credit cards. There is now owing another $32,000 on credit cards. I intend to keep the house but the bank won't let me take over the mortgage so long as I have the credit card debt. My question is this: if my husband while we are still married gets a loan in his name only and pays off the credit cards, then later (after divorce) declares bankruptcy, can I be sued for the loan that he got in his own name while we were still married?
response from Ann Clarke (March 6/2003) |
|
My friend is going through a divorce and owned a small business in her name that her ex-husband ran and racked up major bills on and walked away. She did not work at the store for the past year as she had her own job. It looks like she will have to file for bankruptcy soon. How does the liquidation process work and how would someone be able to buy out the stock at liquidation prices ? Is there some sort of bid system set up by the trustee? Any info appreciated.
response from Ann Clarke (March 6/2003) |
|
Regarding my earlier question, I thought a bank could 'seize' (offset) accounts with balances in account when bankruptcy is being declared?
response from Ann Clarke (March 5/2003) |
|
What is the status with a locked in RSP in Ontario? The pension plan was in Ontario.
response from Ann Clarke (March 4/2003) |
|
If a person who is in bankruptcy because of a gambling addiction is
seen in a gambling establishment by one of his personal creditors, what should
they do? The gambling establishment where they were seen in was a bingo hall. As a
part of their gambling counselling, is a casino out of the question, but a
bingo hall ok?
response from Ann Clarke (March 4/2003) |
|
What happens when my credit cards companies sue me? Can I still claim bankruptcy the same as if I had not been sued?
response from Ann Clarke (March 4/2003) |
|
We are considering bankruptcy. We have a second mortgage on our home and are wanting to sell our house so we can pay that off and then move into another home by porting our current mortgage or assuming a mortgage. Can we do this while we are claiming bankruptcy or do we have to wait until after is is discharged?
response from Ann Clarke (March 3/2003) |
|
I am being pursued in civil court, (by my own brother). My financial situation leaves me unable to afford a lawyer & I will have to represent myself. If there is a judgement against me, will declaring bankruptcy clear this debt? Secondly, does bankruptcy clear any outstanding taxes due to Revenue Canada.
response from Ann Clarke (March 3/2003) |
|
Can a bank seize my accounts I hold there after I claim bankruptcy?
response from Ann Clarke (March 3/2003) |
|
If my wife and I become legally seperated, and I then declare bankruptcy, will this have any affect on her and my family? We have a number of joint credit cards, which I am willing to take responsibility for.
response from Ann Clarke (March 3/2003) |
|
I am considering bankruptcy here in Alberta and some of the debt I have is common utility bills, electriciy of 400.00, nat. gas of 450.00, phone of 300.00 and cablevision of 250.00. Can these debts be included in a bankruptcy, and if so, can they then refuse to give me power, heat, telephone or cablevision once I do file for bankruptcy?
response from Ann Clarke (February 27/2003) |
|
My husband and I filed for bankrupcy in January 2003. Before we filed my husband was working, but became ill. He had to go on medical leave and is currently receiving Unemployment benefits. I on the other had am not working as of yet. I am a stay home mom and am looking to work out of the home. Our debt was in excess of $80,000.00, which accumulated over the last 12 years. My husband is thinking of working for himself, but we are unsure how this will affect our bankrupcy. We were told that we had to file a tax return at the time of discharge which is in mid October. How do we claim his income? (net or gross? and When filing the return, what sort of document will we need? Your immediate response would be greatly appreciated. Thank you.
response from Ann Clarke (February 27/2003) |
|
I filed for bankruptcy in Alberta in November. I want to move to Winnipeg. Am I able to move or can I not because I filed for bankruptcy in Alberta? What happens now? I have to move.
response from Ann Clarke (February 26/2003) |
|
I'm in the process of going Bankrupt and I would like to ask a few questions. 1)Will I be able to take out a student loan once I go bankrupt? 2) Will I be able to keep my American Express card? 3)Can they take my car that I own?
response from Ann Clarke (February 25/2003) |
|
I have been separated from my husband for a year now and our divorce is supposed to be going through in March this year. I was given exclusive rights to our matrimonial home. We were married for seven years and during that time I have been responsible for bringing in 99% of the income. However, business got bad in the past couple of years and I accumulated lots of debts from credit cards etc., Although some of the credit cards are joint ownership, the majority are just in my name. So, I have been doing my best to make the necessary payments to the cards and servicing our debts until now. However, things have gotten so bad for me that I had to declare bankruptcy today ...
response from Ann Clarke (February 25/2003) |
|
My husband lost his job and we got so behind on our mortgage we had to foreclose. We are in the process of doing that now. We are also not able to afford our car payments any longer. If we were to voluntarily give the car back to the bank, what is the normal proceeding that would take place after giving it up?
response from Ann Clarke (February 24/2003) |
|
My husband is in bankruptcy but it has been about 1 and a half years
since declaring. Can he apply for a loan without it affecting his bankruptcy?
Also, we are close to having too much equity in our home. Is the equity amount
only taken from delaring date or is it ongoing during the entire bankruptcy?
response from Ann Clarke (February 21/2003) |
|
I have one outstanding debt that first happened in 1997. The company
didn't actually report it until 2001. It's for less than $1000.00 It was for
a spa membership that I never once used. I went to buy a new car recently and
this debt showed up on my credit report. I contacted the agency and am
awaiting a copy of the agreement. Are there any statutes barring me from
having to repay this debt after this many years? What are my options? Can
companies wait that long to file for an outstanding payment?
response from Ann Clarke (February 21/2003) |
|
I declared bankruptcy 7 years ago when I could not afford to pay back my student loan. My case was approved by the courts. Now, is there any form I must complete to be released from the bankruptcy status?
response from Ann Clarke (February 20/2003) |
|
Though I have read through most of your questions, I do not see one like mine. I have been legally separated for over 2 years, divorced for almost a year. My ex-husband is a dentist, who threatened to make me pay him if I left. I have a disability & am a student on scholarships which must be turned back to the granting agency in the event of bankruptcy. During the marriage, my ex-husband had been bouncing our home mortgage around all over the place, & each time he was offered a line of credit to go with the mortgage. As he did this, he dissipated all assets out of the marriage of 20 years.
During the marriage, he concealed this from me, and at times, woke me up from a deep sleep to get my co-signature. Last year, he declared bankruptcy, & had a proposal accepted. Now some collection agencies are coming after me on these lines of credit. Immediately after the separation, I had a bad feeling & contacted most of the major banks to see if my name was on anything & had been told no. Eventually, they came up with my name waaaay back in the documentation. When my lawyer asked for proof that I used or even activated my interest (she did this for the better part of a year) they could not show that even my bank cards had been activated, nor had any of the funds gone into my or even joint accounts....in fact, all the money went to his girlfriends! There is, to the best of my knowledge, no evidence that I ever benefitted or used the lines of credit or anything else. Another aspect is that there is a credit card debt that the bank the card came from told me did not look like my signature on it! My understanding is that there is no proof that I ever used or benefitted from these lines of credit or the credit card. Additionally, the national credit agency has suggested that had my rights as a borrower been properly considered, I would never have met the criteria as a co-signator & that the amounts loaned to my ex were based on his huge salary as a dentist. Each line of credit is almost 65% of what my salary was at the time.
During my divorce, the justice overseeing the case was shocked & felt that under the circumstances, I could not be held liable. Furthermore, I have been told that the acceptance of a proposal on a debt might constitute legal estoppel.
Can you please help me? I can't even get child support out of this guy. He bankrupted me & everyone else, including some members of my family who trusted him.
response from Ann Clarke (February 19/2003) |
|
How can a person newly residing out of Canada, file a bankruptcy for Canada, from outside Canada? Thanks.
response from Ann Clarke (February 19/2003) |
|
I was surprised to learn theat your corporation merged or was bought out by Alger & Associates. I am confused as to what happens now.
response from Ann Clarke (February 19/2003) |
|
My husband and I have been married for 5 years and practically everything we have in terms of credit is joint. My husband was laid off from a $80,000/year job and is now working within the same field making $32,000. He is a strong believer of working for something is better than nothing. He did receive a $33,000 severance, but with taxes and the difference each month from salaries going to bills and CC's and loans, etc...., we have tapped ourselves out. At this point we still have wonderful credit. We owe $70,000 in an unsecured loan (the guarantor was taken off in December), two leased vehicles ($500.00 per month), personal LOC $25,000, CC's totalling $50,000 and god knows whatever else I am forgetting. Can we still look at bankruptcy or a proposal even though we are still sitting with an R1 rating, or do we have to wait and stop paying everything other than the house and have creditor's down our throat to file? What other options might we be able to look at?
response from Shane Brenneis (February 17/2003) |
|
I am considering bankruptcy, and have approximately $80,000 owning to outstanding bills and credit cards and one vehicle I gave back but they want more money. I own land, but the amount owing on it is still 80% of the market value. Will I be able to keep it as my home is located on it?
response from Shane Brenneis (February 17/2003) |
|
My husband and I owe approximately Cdn $52,000 on loans and credit cards. He is the only one working and in the US earning US$3,200/mo. No house, one vehicle and two dependants. If we are entitled to file bankruptcy, can it be processed without his presence? How long does it take?
response from Shane Brenneis (February 17/2003) |
|
I'm a Canadian and have lived in the US for over 2 years. I have a significant amount of debt in Canada and I wish to file bankruptcy in Canada. My credit is excellent in the US. Do assets (like a home) in the US have to be declared in the Canadian filing? Will my US credit rating be impacted by this filing?
response from Shane Brenneis (February 17/2003) |
|
I have $46,000 in U.S. based (U.S. finance co) student loans which I am not able to pay. They have obtained a Canadian collection agency. My wife and I just sold our house and we have $45,000 that we put down on another house to close in Aug. The previous house was all her in her name and I don't have any personal assets. I don't want her to lose her $45, 000 and thus the new house. If I go bankrupt will they take this money?
response from Shane Brenneis (February 17/2003) |
|
I am in credit card debt of over $8,000 and have not been able to pay down the payments in over 2 years. Recently I also got into a serious car accident and I owe $12,000 in damages to a rental car as a result.
Can I declare partial bankrupcy declaring only the above debts? Also how will this affect the condo that I own which is worth $170,000 and my mortgage (owing is $40,000). Will they take my condo if I declare bankrupcy?
response from Shane Brenneis (February 17/2003) |
|
If I file for personal bankruptcy, and I need my car for work, will I lose my car?
response from Shane Brenneis (February 17/2003) |
|
When did the Bankcruptcy Act Law come out? If you had a 2nd bankruptcy, after 14 years name will be clear? I would appreciate the month and year.
response from Shane Brenneis (February 17/2003) |
|
If I were to file personal bankruptcy, what would happen to my 2002 tax refund if I were to receive one?
response from Shane Brenneis (February 17/2003) |
|
I will meet with a Trustee soon. I will claim personal bankruptcy. Can I go out of country during these 9 months (visit somebody), I mean go and be back and after these 9 months move forever out of country?
response from Shane Brenneis (February 17/2003) |
|
Are USA credit card debts incurred while living there able to be included in a Proposal or Bankruptcy filed in Canada, or is it preferable to file both in Canada, for Canadian debts, and in US for US debts? I am a Canadian, living in Canada, but I work in both countries.
response from Shane Brenneis (February 3/2003) |
|
Are whole life insurance policies an asset that is required to be surrendered? What about an LRIF - Locked in Retirement fund? An RRSP (used as security on a loan)?
response from Shane Brenneis (February 3/2003) |
|
In 1997 I claimed personal bankruptcy on my behalf. VISA was included in those debts and was wiped away. Now, 2003, they have chosen to come after my husband to collect the debt plus interest. 1) Can they get the money from my husband? 2) Isn't there a 2 year Statute of Limitations to sue/collect a debt?
response from Shane Brenneis (February 3/2003) |
|
Is an RESP in my name for my children part of the estate for the creditors in a bankruptcy? Eoes it belong to the children, or do they lose it to the creditors?
response from Shane Brenneis (February 3/2003) |
|
I have recently been contacted by a Canadian Collection agency informing me that an American student loan has been defaulted and now the full amount is due within one week. The loans went to collection in the states last April and I paid the owing amount and I was informed that all loans were up to date. Payments have continued monthly and 'all is well'. Apparently within the group of loans one did not reach this particular agency and has been defaulted for almost one year. This is after the catch up cheque was cashed, and no further correspondence was received. These were student loans and albeit from the same company, different dispersement dates, four different company changes over four years, and difficulty contacting the Guarantor (voice mails) has left me confused. My credit card, mortgage, Canadian student loans, etc., have never gone without being paid. I have expressed a desire to the collection agency to get everything up to date, but have been treated poorly and even hung up on. My question is 1) should I not have received written notification of this loan (if in fact it is defaulted, and 2) what should my next steps be legally or financially? The company has requested either $12,000 US in 48 hours, or three monthly payments of $4,000 US. Both these proposals are extreme. I am going to ask to speak with the manager and propose a 1 to 2 year payment plan. Is this reasonable?
response from Ann Clarke (January 29/2003) |
|
Thank you for your response to my earlier question regarding Proposals. Just so that people are aware, Credit Counselling Services of Alberta does do Proposals (for a small fee) for clients as a means of resolving financial issues. In June 2002 they negotiated a settlement on my behalf with my creditors so that I paid them a lump sum portion of what I owed them and the creditors released me of any further financial obligations to them. This worked well for me because my debts were 4+ years old and they could not take any legal action against me.
response from Ann Clarke (January 29/2003) |
|
I have a friend who is going to declare bankruptcy. Due to her 1995 Ford Windstar lemon she still owes Royal Bank $9,000 and can't afford the payments. If she has no assets etc and walks in and gives them the keys, what recourse do they have other than take back the vehicle? She has a full time job. Can they garnish her wages? If she can dump the losing van now she will survive. Any help would be appreciated. I know GMAC has no recourse on their loans but are banks the same?
response from Ann Clarke (January 29/2003) |
|
I'm not quite clear on your response. Suppose he were to owe $20,000 in tax would this be "written off" in his bankruptcy or we he have to make arrangements to pay Rev. Canada? Thank you.
response from Ann Clarke (January 28/2003) |
|
When do you have to meet with the Trustee? Before, during or after you file? Is it sometime within the 9 month period? How much does it cost to file?
response from Ann Clarke (January 28/2003) |
|
I just had a judgement obtained against me for over 40,000 for a car accident. Can this be cleared by bankruptcy and will my common-law be affected?
response from Ann Clarke (January 28/2003) |
|
I have approximately $50,000 in unsecured debt. Credit cards and line of credit. I am selling my home and expect to get about 10 to $12,000 to put towards the debt. I also have about $16,000 in a LIRA. Is there any way I can access it to put towards the debt? Or would a proposal be a better option. I am self-employed and gross approximately $50,000 annually.
response from Ann Clarke (January 27/2003) |
|
I am considering bankruptcy. I understand that in the year you declare bankruptcy you have to do two separate tax returns, one prior to declaration and one after. Will I be able to keep any funds returned to me for the 2002 tax year? And, when would I file the other two tax returns? Next year? If I have funds returned to me for the 2003 year (the year I declare bankruptcy) will those funds need to be turned over to my trustee - even though I will have been discharged by then?.
response from Ann Clarke (January 27/2003) |
|
My common-law received a severance package from his employer in the the fall of 2001. Since that time he has been working as a consultant for them. He currently has approx. $15,000 in credit card debt and $57,000 owing on a personal loan secured by his truck. We are thinking of selling the truck (should get about $30,000) for it putting this on the loan and he will probably have to declare bankruptcy. He has also not been submitting income tax payments for this consulting income. If he declares bankruptcy can revenue Canada come after him? He will be seeking other employment but his wages will not cover the debt he currently owes. The property we live in is in my name only and I own a vehicle (are these protected as they are in my name?) Thank you.
response from Ann Clarke (January 27/2003) |
|
If I owe less than $30,000 in credit card debt how much do I have to pay back if I file bankruptcy?
response from Ann Clarke (January 27/2003) |
|
I have a large debt in credit cards I can not pay and find no other way but to file bankruptcy. The only problem I have is I have just married a man from the United States of America and am still waiting for a green card so coming back to Canada at this point to file in person is not possible. Can I still file bankruptcy?
response from Ann Clarke (January 27/2003) |
|
If, when declaring bankruptcy, one holds a credit card that has a zero balance, will that that credit card be cancelled? If so, is it possible to obtain a "guaranteed" credit card prior to the discharge of the bankrupty? (my work often requires me to travel, a credit card is required to reserve hotel etc)
response from Ann Clarke (January 27/2003) |
|
I have a HUGE student loan debt - $36,000 in gov't back student loans, plus $56,000 "student line of credit" with CIBC (CIBC started offering large unsecured LOC's to professional students in '97 or so). I understand that the gov't student loans will not be discharged, but what about the "private" LOC from the bank?
response from Ann Clarke (January 27/2003) |
|
My current unsecured debt is over $100,000 ($20,000 in credit cards - mainly due to failed home business attempts, $36,000 in student loans, $56,000 in personal line of credit, $12,000 personal loan). This does not include a $12,000 loan for a holiday trailer purchased jointly with my common-law spouse. If I declare bankruptcy, will this joint loan be included or can we keep the trailer so long as my spouse continues to meet the loan payments?
response from Ann Clarke (January 27/2003) |
|
I have been married a year but I have debt from before we were married. Can I go bankrupt without my husband? I'm currently not working. How will that work for payment to the Trustee? There is also one debt that the company took it upon themselves to put my name on it. Can I include this in bankruptcy? Thank you.
response from Ann Clarke (January 27/2003) |
|
I noticed in the section "What is a Proposal" it states that in 45 days if no creditors respond or they vote yes then your proposal is approved. I entered into a Proposal with Credit Counselling Services of Alberta and 4 out of the 5 creditors accepted the Proposal. The 5th creditor would not respond at all after numerous documented phone calls from CCSA. Now this debt (the smallest one out of all of them) still remains on my credit history as an unpaid debt. If they didn't respond at all to the Proposal then why wasn't it deemed approved? Can I still get it approved if nobody will call me back and allow me to pay them? I have tried to persue them on my own after my file was closed with CCSA but I'm still getting no response from them.
response from Ann Clarke (January 27/2003) |
|
I currently have $100k in debt and make a $70k salary. I make good money but I still can't get out of debt so I am considering bankruptcy. Will I qualify?
response from Ann Clarke (January 22/2003) |
|
I have two maxed out credit cards and I have lost my job. I have the help of my father with my rent and food, but he can't help with the credit card payments. I am so deep in debt, would it be possible to claim bankruptcy in a situation like this? And if so how does it affect my future credit? Will I ever be able to get a credit card again?
response from Ann Clarke (January 22/2003) |
|
I've been given a letter from my bank making a "formal demand for immediate of my indebtedness"
What does indebetdness mean? The amount that is owed is quite large and not manageable. Will bankruptcy cover this debt or do I have to pay the bank?
response from Ann Clarke (January 22/2003) |
|
I am in a position where I might have to consider bankruptcy. This would be my first (and hopefully last) bankruptcy. I do not own a home, but I would like to in the very near future. Likely, a lot shorther than the amount of time I will carry bankruptcy status. Is there any way that I can still buy a home?
response from Ann Clarke (January 21/2003) |
|
My ex and I are both on title to a condo. I didn't contribute any of the equity to get into the condo and the mortgage is up for renewal in June 2003. My ex will renew the mortgage and have my name taken off title at the time of renewal. If I file bankruptcy, I will have to state that my name is on property, but like I said, I didn't put any money into it myself. Will my filing bankruptcy with my name on title to the condo affect him? (I think there should be about $50,000 equity in it - none contributed my me)
response from Ann Clarke (January 20/2003) |
|
I am a self-employed, sole proprietor of a non-incorporated business. As a result of an audit several years ago, I am facing over 50,000 in CCRA debt including penalties and interest. Currently, I have a non-binding verbal re-payment arrangement with them which will result in this debt being paid in about 28 years. However, they still continue to demand more money from me. Do I have another option?
response from Ann Clarke (January 16/2003) |
|
If I own farm land in a joint title with my father and the farm is rental income can I take my name off the title and give the farm to my father before I go bankrupt?
response from Ann Clarke (January 16/2003) |
|
Hi, I am divorced. It states in our agreement, done by ourselves Jan. 1999 and notarized, that I owe a debt for our mutual overdraft. I have paid her cash (stupid) for the debt and she was to sign an affidavit swearing to this, never did, and has now chosen to pursue collection because she is choked about another matter. #1, is there a statute of limitations on such matters? #2, would this debt be covered if I filed bankruptcy? #3, do arrears maintenance payments get covered by bankruptcy? (She had agreed to lower payments and has changed her mind on that now too)
response from Ann Clarke (January 15/2003) |
|
My husband and I have been married for 5 years. We have a joint checking and I have credit cards that he is an authorized user on. If I file bankrupcty will it hurt his credit? Will he still be able to apply for a mortage loan? Currently I am unemployed and owe about 10,000. of credit card debt that we have used to pay house payments and pay utilities bills. Will we lose any personal possessions that we have?
response from Ann Clarke (January 15/2003) |
|
My husband wants to go bankrupt. My name is not on any of credit cards. Will it affect me too?
response from Ann Clarke (January 14/2003) |
|
My husband and I are considering bankruptcy. We have 20,000 in credit card debt, a car loan, a first and second mortgage. 2 of our credit cards have gone into collections, and a notice was sent to us from a barristor/solicitor. My question is, if we declare joint bankruptcy, can CIBC refuse a renewal on my house? We bought our house in 2000, and do not have $40,000 equity in it. Will I lose my house?
response from Ann Clarke (January 14/2003) |
|
If I were to go bankrupt must I involve my employer as they are a bank and I do have a car loan and visa through the bank?
response from Ann Clarke (January 13/2003) |
|
I've just recently received a letter from Revenue Canada that from now on my tax refunds would be withheld due to a debt I had with CMHC - This was for a house in Ontario - The paperwork they've sent me is dated Nov/97 - Now I'm receiving phone calls from a collection agency threatening to seize all my assets - I've told them that this is the first I heard about this debt and would like more info - The debt is $38,000 and there is no way I can pay this. Is bankruptcy the only option? Do they not have to provide me with with more information if I request it? Can they seize all our assets?
response from Ann Clarke (January 10/2003) |
|
I`ve been married for 10 years, we had two girls aged 11 and 7 years old. Our relation started to fall apart and I went to consult with a lawyer after learning that my husband was changing a lots of his assets transferring it in his father`s name including his ownership of the business and so much more. When my husband learned that I had engaged a lawyer, he entreated me to disengage my lawyer or else he would go bankrupt so I wouldn`t get nothing and he would go on welfare so he would pay me only little! The agent who filed the bankruptcy did not investigate this bankruptcy. He would of found out that my husband was not in position to do so, earning in excess of $145,000 a year. This agent did not inform some important creditor like, the bank etc, and failed to do other necessary procedured which brings me to believe that there was complicity between the parties. I tried to defend myself with a lawyer who deal with such a case and he agrees with me that there was obviously "shame", was his exact words, then he worked for only the money that he could have out of the sale of the house and quit leaving with nothing! What can I do about this? I need help to be able to provide for my children and to have justice done!.
response from Ann Clarke (January 10/2003) |
|
I am currently in personal bankruptcy as of Dec. 02 in Calgary AB and I am seeking new employment. If a position requires me to be bonded do I qualify? Secondly, if the employer ask me if i have ever filed for bankruptcy and they require me to be bonded could they legally say they cannot accept me as the position requires someone who can be bonded?
response from Ann Clarke (January 10/2003) |
|
If I make approx $2,600 a month and owe $60,000 in debt to unsecure debt and own a co-op worth $26,000 and claim chapter #13 how much per month approx will I have to pay towards debt? The co-op is paid off, just pay common charges each month of approx. $500.00......but I owe several months on until...and have to catch up..I also have a 14 yr old daughter I support and lives w/me.
response from Ann Clarke (January 9/2003) |
|
Do you have a contact e-mail for Ontario questions?
response from Ann Clarke (January 8/2003) |
|
I filed Chapter 13 in September of 2002 to bring me current on mortgage, car loan and other past due expenses. I was suppose to start paying my mortgage in October which is $636.56 and the agreed bankruptcy amount starting in November of $400.00 per month, which includes my car, but I was not able to find a job to support this amount. I am now behind again owing my mortgage for October, November, December and now January and I still owe the bankruptcy amount for November, December and January. My lawyer is no help and is simply saying that there is nothing that they can do. I am now employed as of December making $9.50 per hour and the job is stable. I am considering filing a Chapter 7 in which I will lose my home and my car and just start over. What should I do? If I file Chapter 7, can I still get the equity in my home since I have lived there since September,2001? Please let me know ASAP, running out of time...
response from Ann Clarke (January 8/2003) |
|
We moved from Ontario to northern Alberta. Finding it very expensive to live. We are falling behind on several bills. We do pay off the major bills, mortgage, van loan, however, some bills each month go unpaid. Which is getting worse each month. I am starting to work in a couple of days which should help. I can't get a loan anywhere, not enough equity in the house. I did contact the credit cousellers however, because of my van loan, which is a secured credit. If I did go with dpp program, I wouldn't have enough money for other stuff. What should I do next?
response from Ann Clarke (January 6/2003) |
|
I am currently dealing with a company in B.C that has sent up a proposal to my creditors. They have accepted the proposal however it is repaying 100% of my debt and is costing me 545.00 bi-weekly. I am finding this very hard as I also have a car payment of 289.00 and since I work for a bank I also retained their credit card so that I would not have to involve my employer. However it's just to much. I want to pay my creditors something as I feel I owe them, so I really don't want to go bankrupt. I owe about $75,000. Any suggestions?
response from Ann Clarke (January 3/2003) |
|
I have been divorced from my wife for two years and am currently living with another partner. I was left with all the debt from my previous marriage and am having trouble paying it off. If I declare personal bankruptcy how will this affect my new partner's assets? All the debts that I have were acquired during my previous marriage.
response from Ann Clarke (January 3/2003) |
|
I am unemployed and my benefits will be running out in about 1 month. I owe approximately $12,000 to three credit card companies. I own a 1999 Saturn. If I declare personal bankruptcy, will I lose my car? I have just moved from NS to BC. Will the person I'm living with be affected by my filing?
response from Ann Clarke (January 2/2003) |
|
If you filed chapter 7 in 1993 and then in 1997 you filed chaper 13 but couldn't keep up with the payments each month and the bankruptcy was dismissed, can you file for chapter 7 in 2003?
response from Ann Clarke (January 2/2003) |
