Archive for June, 2008

Hello,
I owe $65,000 in credit card debt, $15,000 in student loan debt. I have very few assets, I make $2424 net per month and my living expenses come to approximately $1,700 per month, not including my debt servicing costs. Since I have $a decent amount of surplus, would a trustee prefer I do a proposal? […]

I think I read somewhere that if you are going to file a consumer proposal you can`t have more thank $75K in debt. Is this right?
If so, is there a possibility that the limit be raised soon and if it is going to be changed do you have any idea when that may happen?

Do you always loose your home when you file for bankrutpcy?

My wife and I are having difficulties. Between us we make $120,000 per year but our debt simply is not maneagable and we don`t know what to do. Right now we have approximately $45,000 in lines of credit which have been fully drawn on. We have mountains of credit card debt (a total of roughly […]

Both my wife and I have debts. I have cosigned on some of hers and she has cosigned on some of mine. We live together, have been married for 10 years, and have 2 children. We both work. My question is can the both of us file a consumer proposal togher. I have read your […]

Hi, I have a bit of a problem. The total of my debt is around $45,000. I am going to declare bankruptcy but my question is about my wife. She has signed on my line of credit ($27,000 of the total debt), so will she has to file along with me or I can file […]

I filed bankruptcy back in 2001. I have been stupid with my money and am in exactly the same place I was before I filed a bankruptcy. Can I file another bankruptcy?

I am self employed. I have an Incorporated company and in the company I owe a $30,000 loan, a $20,000 credit card, and $15,000 line of credit.
All this debt is unsecured (if I interpret this term correctly). If I file bankruptcy, how long would this affect my personal credit.
If this is a business bankruptcy will […]

I have been reviewing a number of websites about bankruptcy and must say your sites have been the most useful. But I do have a question. I understand that there is a guideline published by the Superintendant of Bankruptcy that is used to determine what a bankruptcy would cost. Where can I find these guidelines?
The […]

I am in a bit of a mess and need some help.
I think I need to file for bankruptcy but need to know:
1. If you have to meet a certain criteria before you can declare bankrupcy?
2. How long before teh stay of proceedings is official and the collectors stop calling?