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If you’ve personally been touched by the pain and embarrassment of bankruptcy you may think that your life will never be the same again. You may also believe that real estate investing is a thing of the past because lenders will forever consider you to be damaged goods.
One of the most recommended but least desirable options to save a home from foreclosure is filing bankruptcy. It seems like a solid legal defense against eviction and a way to get more time to work out another solution, but few homeowners really want to damage their credit for nearly a decade just for another chance to save their home, especially when other options may require decent credit. But filing bankruptcy should be considered a last resort by most homeowners in case nothing else works out in time.
What happens if your mortgage payment and car leasing payment per month is way more than the alloted amount per month and these payments have never been behind ie mortgage is 1810 per month and car payment is 530 per month
Posted from: Alberta
There are two main types of bankruptcy cases. This article explores that information.
Is it possible to keep both my vehicles after bankrupcty? One vehicle is worth more than $10,000 and I`m making monthly payments on and the other is paid off but worth less tha $5000. My wife and I need both vehicles for work, and hoping that if we do file for bankruptcy we can keep both.
Posted from: Ontario
There are many great Queens bankruptcy attorneys available for hire. Take a look at Google search or open up a phone book and you can find many outstanding lawyers offering free bankruptcy consultations. If you can travel a bit, look up Brooklyn, Bronx, Manhattan or any of the other 4 boroughs - you might be able to find a great deal a short subway ride away.
My wife and I are looking at entering into a Consumer Proposal in the new year. We are wondering if it is a good idea to refinance our mortgage now to a 7yr term (get 8k in equity back) so that when a 4yr proposal is complete and a 2yr re-establish is done our mortgage is completely safe. Also what should we NOT be doing in the next 3-4 moths before if we decide to go into a CP? Thanks
Posted from: Ontario
If you are thinking about filing for bankruptcy, you should know the basic bankruptcy facts before you file. This article will give you an overview of what you should expect when you file for bankruptcy.
My husband receives a truck & travelling allowance from his employer because he is required to use his personal vehicle for work and must stay out of town. The employer supplies the lodging but we supply the food. This is why he is paid the travelling allowance. Do these amounts have to be declared as income?
Posted from: Ontario
We have 2 Ltd. companies and they both are a maxxed to the limit, we also have numerous credit cards and loans exceeding limits. We signed personal gaurantees on these businesses and LOC`s. My question is what happens to these broke companies? All taxes are paid but loc`s are maxxed, so I`m thinking about personal bankruptcy. Does this include my businesses as well or do I file them separetly? Do I still have to file yearly taxes for these companies?
Posted from: Alberta
