Archive for June, 2008

Hello, I first want to thank you for all the information you provide on this site. I have just finished filing a consumer proposal largely based on your advice and last week our proposal was accepted by our creditors. My proposal covered about $49k of debt, but I just realized I forgot to [...]

I part way through paying off my consumer proposal and have just found out that I have a fairly significant inheritance that will be coming due shortly. Am i required to inform my trustee? Will I be able to use this money to pay off my proposal?

I just found out that my husband has enormous debt and claimed bankruptcy without telling me. What is going to happen to the loans that are in both our names? How is his bankruptcy going to impact me?

I am confused about Bill C-12, has it been enacted? If I file for bankruptcy can I include my student loans which are 8 years old.

Well I have decided I am going to have to file bankruptcy shortly. I live in Edmonton, I owe way to much money but I am expecting a tax refund. I was wondering if wait until I get my refund (will be about $4000), use it to visit my family back in halifax, [...]

Hello,
I had my brother-in-law do my taxes for the last 3 years as I thought he was an `accountant,` at least that is what he told me and I was just audited by revenue canada. I was told my deductions were allowable and now have to pay $23,000 in tax back pay. Am [...]

Is it OK for me to collect employment insurance even if I have declared a bankruptcy?
Thanks

Hello. One question, I have a car loan, my payments are up to date, I have less than $5000 in equity and I need my car for work.
Will I be able to keep my car if I file a consumer proposal or bankruptcy?

My debts are greater thatn the $75k that is allowed in a consumer proposal so I have been considering the filing of a Division 1 proposal instead. However I have 2 questions. First What is an average percentage of payback that people are able to get accepted? As well, Also what does it [...]

I have the following:
4 credit cards = $27,000 owing in total
2 secured loans, one for a car and another personal one.
Is secured debt applicable for consumer proposal/bankruptcy? If it is, do I have to hand over my secured assets?