Archive for August, 2008

I am in the process of going bankrupt. I own no property/vehicles. My credit cards were maxed out solely by clothing ($20,000 estimation) and everyday essentials to living. I only have a bit of jewellery also. One ring from my grandfather ($5,000 est.). Would my inheritance in the value of a ring [...]

I run a business, it is a sole properitorship. There aren’t many assets in the business (it is a coffee shop)
We also own a home that is in both mine and my husbands name. Is there anyway that this business could it affect our house (it is worth about $320,000).
Thanks.

About a year ago I received a conditional discharge. As part of the conditions I had to complete some reporting. I did this, but don`t know if I am discharged. How can I find out if I have received a full discharge?

Hi
I am not sure if this is the right place to ask or not…
I started appying for credit cards using a `Potential` business that I never did get going and `potential` income, or listed income both my roomate & I make TOGETHER, so it was really false info. Does this mean I can go [...]

I have financed a vehicle and I owe 23k on it. The problem is that the resale is only about 10k. Since there is no equity in the vehicle am I allowed to keep it if I file for a bankruptcy? Thanks.

In January 2003 I filed a consumer proposal. This proposal was annulled because I couldn’t afford the payments. In July 2005 I filed a bankruptcy but I didn`t finish the bankruptcy as I found the paperwork to difficult to keep up on. What can I do now?

I have a RRSP. The money in it came from the roll over from a company pension plan when I left the company. I do have other normal RRSP’s that I understand would not be protected.
Am I correct?

I have heard that if you have completed your studies all you have to do is wait for 2 years and then your loans are earased?
Is that right?

I have a small proprietorship. I owe more money than I can afford to pay back on credit cards and a line of credit. My biggest concern is the government. I owe CRA arioound $25k and they just started contacting my clients to direct payment to them. I have two real questions: Will bankruptcy help [...]

I was wondering, what is the downside of filling for Bankruptcy?
I understand this is a last resort type of thing, but what are the negative effects doing this?