Bankruptcy Questions Answered

repayment of student loan

I have approx 18,000 in student loans and a 13.00 hour job. My rent is 500.00 a month not including utilities. I can afford 200.00 a month in repayment to OSAP but they are refusing to accept this. I have just finished school approx 9 months ago. I have not defaulted or ignored these people, and don`t know what else to do…Can they legally refuse my payments?

Posted from: Ontario

Posted in Finance | Comments Off

“… the bank shall smart for it”

A lesson for our times: On this date in 1824, Henry Fauntleroy, the last Englishman to hang for forgery, met his fate at Newgate prison. via In 1807, Fauntleroy inherited a partnership in the foundering London bank Marsh, Sibbald, Stracey, Fauntleroy & Graham.

“At this time I was only twenty-two years of age, and the whole weight of an extensive but needy Banking establishment at once devolved upon me, and I found the concern deeply involved in advances to builders and others which had rendered a system of discounting necessary, and which we were obliged to continue in consequence of the scarcity of money at that time, and the necessity of making further advances to those persons to secure the sums in which they stood indebted.”

Marsh, Sibbald was hit with demands from creditors and suffered losses in speculations with “builders and brickmarkers.” In 1819, one of Fauntleroy’s partners died, and the bank lacked funds to pay cover the cost of his capital. That’s when Fauntleroy took his drastic step and sold stock that he was supposed to be holding for investors.

“In order to keep up the credit of our house, I have forged powers of attorney for the above sums and parties, and sold out to the amount here stated, and without the knowledge of my partners. I kept up the payment of the dividends, but made no entries of such payments in our books. The bank began first to refuse to discount our acceptances, and to destroy the credit of our house: the bank shall smart for it.”

Fauntleroy denied using the money to finance a debauched lifestyle.

Broadside of his execution here.

Posted in Finance | Comments Off

Proposal and Car Lease

I have a lease for my car and now unable to continue paying full amount. How does a consumer proposal affect my lease? I do not want to loose the car.

Posted from: Ontario

Posted in Finance | Comments Off

T. Beach

What are the fee rates for trustees for managing a Consumer Proposal in Ontario?

Posted from: Ontario

Posted in Finance | Comments Off

Lines of Credit?

I see a lot information on the internet about credit card applications after bankruptcy but what about lines of credit? Is it and when is it possible to apply for a line of credit after being discharged from bankruptcy…Assuming one has a job, some savings etc…
Thank you

Posted from: Ontario

Posted in Finance | Comments Off

guy

I am supposed to be discharged from bankruptcy in about 5 months. A member of my family has just died, and I am not sure if I am in the will. If the will is not read, or if I am not informed that I am a legatee until after my discharge, do I still have to pay my inheritance retroactively? That is, can they take all of it up to the amount owed. If they do is there also a charge on top of this? Or is it just straight debt payment?

Posted from: Quebec

Posted in Finance | Comments Off

william

was delinquent on paying my bankruptcy and now the trustee has filed for his discharge on February 5. If I pay my balance to the trustee before that date, can I still be released, or will what I pay to the trustee just be lost. Will I be able to file for bankruptcy again, or will I be just left to the wolves.

Posted from: Quebec

Posted in Finance | Comments Off

total debt freedom

Total debt Freedom .INC is this governed by the (BIA ) insolvency trustee act , is it a good idea instead of bankruptcy. please let me know

Posted from: Ontario

Posted in Finance | Comments Off

A business

I have a business. It is a partnership. I am the only name on the lease and we are in arrears of 2 months and unable to continue. Can the value of the amount of the remaining lease payments be included in my consumer proposal? Also, the loan to the bank is joint - my partner will take that himself - can that be excluded if the bank removes my name?

Posted from: Ontario

Posted in Finance | Comments Off

Lose the house

I have a large amount of debt and I am thinking of declaring bankruptcy. My concern is will I lose my house? The house`s Title is in my wife’s name and not mine?

Posted from: Ontario

Posted in Finance | Comments Off