Does a consumer proposal cover income tax debt?
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posted by Questions @ If I declare bankruptcy does a trustee or somebody come to my house and make a list of my property? I live in a household with other people and was wondering if somebody came to the house how would they know what is my stuff and what belongs to my roommates? Or do I just have to make a list of everything I own?
i am going to sponsor my spouse, but before she comes here i would like to take control of my debts. i am thinking of applying for consumer proposal, and a friend told me it is one step before bankruptcy. will it affect my application for sponsorship? because i am not allowed to have bankruptcy on my record if i am sponsoring my spouse.
We filed a Consumer Proposal almost a year ago and now find the payments difficult to make each month. We / I have a car it is my only asset. The payment s are high on it also, but I work in the country and there is no transit system. Is there any thing we can do now regarding possibly going from an already existing Consumer proposal to a Bankruptcy and still keep my vehicle so I can work. The vehicle is a 2006 and I have paid off 14,000 and still owe 7,000. We really have to do something.
We have already sat down and realized that we have 111,000 in unsecured debt. We met with a trustee prior to the bankruptcy act changing and he said that a proposal was our best way but we should still consider our house as the mortgage payments are so high. So no rush now that its not a bankruptcy under old terms (we have excess montly income to deal with). Again, met to go over the paper work and brings up the house and tells us to strongly think about it. We take a month and think about it alot and decide to give up the house (we will be in a deficit on our mortgage payout on a cmhc mortgage) so we talk about foreclosure. After the month I call him back and let him know we have decided to let go of the house to be told that it cannot be dealt with in a proposal only a bankruptcy which with the changes is not in our favor at all. what are our choices? Wait for foreclosure and then deal with a foreclosure defecit ina proposal or is bankrupcty the only way? In which our bankruptcy payment would be so huge it wouldnt be feasible? Feeling very trapped!
In 1999/2000 I recieved a Student loan from the province of Alberta to attend school. In March of 2000 I was in a debilitating accident and had to stop attending. Up till 2006 I was a stay at home mom, and not able to pay off my loan. Since 2007, when I started working, Alberta Student Loans thru NCO has put a lein on my Revenue Canada benefits, including GST and any Income tax rebates I may receive. I still have my 3 children to support and I do work, but is there someway I can stop them from taking these moneys directly from Revenue Canada? also, its important to note that last year someone made a mistake and I did receive my income tax refund.
I now live common law, but am still listed on a number of my ex`s debts and he has been spending more than he should. I must admit I really didn`t pay attention to what he was doing as I am no longer a part of that relationship, but just recently some of his creditors have started calling me. Now I haven`t spend any of the money relating to these amounts, but am I responsible? Is this debt mine as well?
Rigth now I am facing a situaiton that I just can`t seem to manage. It has been some time since I have been able to pay bills on time. How long should I go before I look into filing for bankruptcy? What happens if my creditors don’t accept the bankruptcy, do I have any other options ?
I own a condo in Arizona with my brother.
I understand that in a bankruptcy I would loose my share, but would this happen if I file a proposal instead?
I am going to file a consumer proposal but I have a question. My husband and I have a joint bank account. Do I have to declare the money in this account, even though I am not declaring his income (I have discussed this with a trustee, my cost of bankrutpcy would be higher by doing htis and I will have to offer more to my creditors, but that is what I want). So do I need to declare the amount of money in the joint account or not?
