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I am married and have found that I have accumalated a debt of 45,000 in my name with out my husbands knowledge. Can I ask for Consumer Proposal myself or does my husband have to be involved. I don`t want to risk losing our home and other assests.
Posted from: Ontario
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If my spouse is earning tax exempt income and is not bankrupting do we have to claim that income monthly on the forms. Our trustee is airing on the side of caution but this is not income in any other government paper work? Is this something a lawyer should answer?
Posted from: British Columbia
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If a person HAD been out of school for a 7 year stretch but is now back in school with no further loans, would the new laws still apply?
Posted from: Newfoundland and Labrador
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Countrywide Home Loans, one of the nation’s largest subprime lenders over the past several years, has agreed to a settlement to resolve allegations that the company collected a host of improper fees and payments from debtors filing Chapter 13 bankruptcy.
The settlement recipient was a Chapter 13 bankruptcy trustee named Ronda J. Winnecour, who sought the loan histories for 293 bankruptcy cases in which she suspected violations of the U.S. bankruptcy code by Countrywide. Specifically, she alleged that Countrywide “lost” or “misplaced” payment checks made by debtors in foreclosure purposefully, in an attempt to skirt protections offered by the U.S. bankruptcy code.
Despite denials by the company that the errors made were “systematic,” Countrywide will pay Winnecour $325,000 in the settlement.
When filing for bankruptcy I include debtors/personal loans. Now I understand that you cannot pay them back while in bankruptcy. If I choose to pay them back I may do so after I am discharged? Also before going bankrupt or while I am in bankruptcy may I tell them when I am discharged I want to pay them back?
Thanks from
Totally stressed out
Posted from: Ontario
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does the seven year period for student loans have to be 7 years in a row? I received a canada student loan, graduated in1998. 2 years later I returned to school to get a new degree and also received student loans under a different source. Now I have graduated from this degree also. If I file for bankruptcy on my canada student loan, can I include that 2 years off I took in between while adding my 7 years?
Posted from: Quebec
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Like any legislation, bankruptcy law is complex which is why you should begin the process by consulting with an attorney. In a nutshell, the purpose of the law is to help individuals and businesses resolve their inability to pay their debts. Simply stated the bankruptcy court looks at all of your assets and liabilities, allows certain exemptions and then divides the net assets among the creditors. Of course, it’s never that simple because everyone’s situation is different and complications can occur at any stage.
I am in the final stages of divorce. My wife makes 70,000 a year and I am on pension for $35,000. The lawyers are telling me I have to pay half of my pension which I have not received yet. I will have to claim bankruptcy. For sure she will object. If she objects to my discharge after 9 months, how long will I remain bankrupt?
Posted from: Ontario
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what happens if one person passes away and you have filed a joint consumer proposal. and also if in four years you inherit money or win a lottery for instance can you repay proposal debt or do you have to repay all creitors.
Posted from: Ontario
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If you are in a situation where you are going to file for a Bankruptcy it is good to know what it is going to cost you. It is harder to make it today because of the rising prices of everything we seem to get more into debt and that is why bankruptcy is on the rise. It is important to understand that a Bankruptcy can stay on your credit report for up to 10 years and it is always advisable to file a Bankruptcy as your last option.
