debt consolidation loans
Tuesday, November 25th, 2008Who provides the loan to consolidate the debt….for collateral can one use a death insurance policy which could be signed over to the lender?
Posted from: British Columbia
Archive for November, 2008
bankruptcy
Tuesday, November 25th, 2008can a person declare bankruptcy more than once?
Posted from: British Columbia
Bank Account
Tuesday, November 25th, 2008If I had a credit card with certian banks, and then declared bankruptcy, would those banks let me open a chequing or savings account account with them?
Posted from: Saskatchewan
Separation and home equity
Tuesday, November 25th, 2008I live in Quebec and my common-law spouse (not applicable in QC) left me about 18 months ago. There was no legal separation agreement since it is not recognized in Quebec. Last month she filed for bankruptcy which left me to pay for any debts we jointly signed on. In order to pay these debts, I am forced to sell the house. Now, her trustee informes me that 50% of the equity will go to them as her share in the equity which she voluntarity forfeited when she left. I need help here since the closing date is less than a week away.
Posted from: Quebec
The Credit Counseling Course and Filing Bankruptcy
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Ex husband wants to file for bankruptcy
Tuesday, November 25th, 2008Hi, I`m a single mom and have been separated for 2 years. My issue is that my ex wants to file bankruptcy with his common law girlfriend. How will this affect me?? We are not legally divorced. He does pay half of the car loan(I have the car) and we had a furniture credit card with both of our names. However, I`ve been the one paying it. When he files will they take my possessions?? Am I forced to file bankruptcy; as well.
Posted from: Ontario
Query whether lending institutions need to inform borrower they are sending loan to collections
Monday, November 24th, 2008I declared bankruptcy Jan. 05. I was discharged Nov. 05.
I was told by my trustee, my student loans would not likely be `cleared`, even though I had been in and out of school from Aug. 93 through to May 05.
2 loans were held by RBC; My loans were an Ontario Student Loan and the other was a Canada Student Loan. RBC contacted me with a repayment schedule for the Ontario Loan which I continue to honour. The other loan is what I have a grievance with. RBC informed me, upon my phone call inquiry, my Canada Loan was in bankruptcy status. Shortly after I received a document from Social Development Canada that `$0.00` was owing for my `CSL`. This letter along with the RBCs yearly annual statement for 06, 07, stated both the risk portion and guaranteed portion of my loan had `$0.00` owing, and a phone call to the RBC Student Loans Division stated my account had been `Paid in Full`, I thought I had been cleared of some of my old loans. Thus, when I received a letter from a collection agency threatening me that I had to start paying $1000.00 a month or I could be arrested, never own a home, have my car seized, my Registered Nursing and Ontario Teaching licence revoked, face up to 3 years in prison, and/or have my wages garnisheed upto 20%, I was astonished!
My question, as I prepare my own civil suit against this banking institution, is whether the bank had the responsibility to let me go back into repayment (as I did with my other 3 loans - 2 of which, have been paid off), and whether they had a legal responsibility to me (the borrower) that they were sending my loan to the government?
Posted from: Ontario
Posted from: Ontario
Bankruptcy
Monday, November 24th, 2008I have declared bankruptcy twice in my life
(Two divorces)
I was discharged from the last one just over 2 years ago and am in debt again.
Can I file again?
Thank you
Posted from: Ontario
Common Debts That Are Discharged by Bankruptcy
Monday, November 24th, 2008Under the federal bankruptcy code individuals can discharge consumer debt in bankruptcy which allows them to start fresh. Filing for bankruptcy puts into effect the “automatic stay.” The automatic stay immediately stops your creditors from trying to collect what you owe them. When you file for Chapter 7 bankruptcy, many of your debts will be canceled without any further repayment. In exchange, you might have to surrender some of your nonexempt property. Property that is exempt and need not be surrendered would be motor vehicles, clothing, household furnishings pensions and life insurance. The complete process takes about three to six months and commonly requires only one trip to the courthouse.
