Archive for December, 2008
Wednesday, December 31st, 2008
Hi my name is Theresa and my question is this. My children both have a ADHD and I was told by my paediatrician that they should be allowed a child disability benefit. Which would be a God send because my son needs extra help and could definitely benefit from Sylvan or something similar. The problem is that we are currently in the bankruptcy process and my trustee said she wasn`t sure how it would work. Would all of this money be lost to the creditors if it were granted to the children. Thank You for your time.
Posted from: Nova Scotia
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Wednesday, December 31st, 2008
Bankruptcy Questions - Answers to the Most Common Bankruptcy Questions If you have bankruptcy questions, you certainly aren’t alone. Filing for bankruptcy can.
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Wednesday, December 31st, 2008
If you are in debt or want to declare bankrupt, you may want to consider bankruptcy assistance. Visit our website for more information on how you can declare bankruptcy properly to ensure a safe transaction. …
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Wednesday, December 31st, 2008
Latest Fashion Trend for 2009: Bankruptcy. December 31, 2008 | Posted By Editor Comments / Questions (0) | print this article. According to the Chicago Sun-Times, several retail analysts are predicting that up to 73000 retail locations …
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Wednesday, December 31st, 2008
According to the Chicago Sun-Times, several retail analysts are predicting that up to 73,000 retail locations will close during the first quarter of 2009 and 20-40% of retail chains could go totally out of business next year. Ann Taylor,…
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Wednesday, December 31st, 2008
I filed bankruptcy in 2007 and have been discharged since March 2008. I found some 2007 tax receipts for medical expenses, would I be able to claim those on my 2008 tax return? Thank you
Posted from: Ontario
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Wednesday, December 31st, 2008
We sent the truck back because of unable to pay do to being fired from job.Can you tell me if my spouse would liable also, she didnt sign any papers pertaining to the truck tks
Posted from: Nova Scotia
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Wednesday, December 31st, 2008
With the economy in the state that it is has been in, and with little sign that things are going to change any time soon, many of us have had to take a long hard look at our money and we may not like what we see! The sad truth is that you may very well find yourself in financial troubles and do not have the ability to settle the payment. Many times, the first thing that should come to mind is bankruptcy.
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Wednesday, December 31st, 2008
i have my discharge papers but having a real hard time to get hold of equifax to have them on my file how do i do this
Posted from: New Brunswick
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Wednesday, December 31st, 2008
what happens if I file bankruptcy and my ex spouse is not and both of our names are on the mortgage for our house. And we have shared loans. I have become gravely ill and have no income to pay any of my creditors …
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Wednesday, December 31st, 2008
The date applies to all of your loans - the government does not differentiate between old and new student loans. You only have one end of study date and it applies to all student debt. Ask A Question
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Wednesday, December 31st, 2008
But it seems to me that at AIG the sense of security came from the fact that the folks there thought they had a safe portfolio. Whether that sense of security was false or not is the question that is still unanswered, in my view. …
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Tuesday, December 30th, 2008
Hi there,
I have student loans that are over 7 years old and some that I took out in the past 7 years. If I declare bankruptcy will my older loans be discharged?
Thanks for your help.
Posted from: Ontario
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Tuesday, December 30th, 2008
what happens if I file bankruptcy and my ex spouse is not and both of our names are on the mortgage for our house. And we have shared loans. I have become gravely ill and have no income to pay any of my creditors
Posted from: British Columbia
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Tuesday, December 30th, 2008
Finally, it was possible, the origin of bankruptcy debtors of the ancient Roman mensarii or argentarii. They presented their tabernae or table, or mensae in the public and their business. Should they decide to flee with the money that …
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Tuesday, December 30th, 2008
I am thinking that I may need to either fiel bankruptcy or a credit proposal. My wife`s business is in big trouble from teh economic meltdown. She will likely have to go bankrupt and we have many shared debts. I owe total about $60k that includes joint with her.
B/c she has lost her income from the business as well we have very little money now. I have decent income (50k) and she has like 6K now so her surplus income will be very little (2 kids) = $100/mth for her.
I DO NOT want to go bankrupt but cannot handle the cc debts as well as the rest.
I have from a former job $25k in OMERS. Could I seek to have that money withdrawn through hardship to pay the consumer proposal right up front. I think the most I could offer under a Consumer Proposal would be at best 20 cents on the dollar. Using the surplus income model, if I also had to file bankruptcy (not her fault but her failing business is going to drag us both down possibly), my surplus would be another $200 a month. For 60 months, I could offer $300/mth which would be $18k. I will do anything to avoid bankruptcy!!! So could I say - take $25k from my OMERS and I can at least avoid bankruptcy for one member of our family going forward?
Posted from: Ontario
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Tuesday, December 30th, 2008
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Tuesday, December 30th, 2008
There are also changes in companies that file for bankruptcy. Although it is not your first choice, sometimes filing bankruptcy is the only choice. Knowing that such laws protect you and your creditors. They do not want to file for …
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Tuesday, December 30th, 2008
[This blog posting contains important updates to The Foreclosure Survival Guide. The updates are presented chapter by chapter. Please email me at selias2 (at) aol (dot) com if you know of any other parts of the book that have fallen behind in this rapidly changing world of housing and finance. -- Steve Elias]
Chapter 1: Foreclosure: The Big Picture. The Hope for Homeowners Act: Effective October 1, 2008, the Hope for Homeowners Act implemented a new program designed to help people convert their current loans into FHA-insured, 30-year fixed-interest-rate loans. As of December 15th, this program has not yet gotten off the ground. According to a report by the National Association of Consumer Bankruptcy Attorneys, not even one mortgage has been modified under this program and only several hundred modification applications have been submitted. For more details on the program, see the article on this subject in the Nolopedia, Mortgage Refinancing to Avoid Foreclosure.
Chapter 1: Foreclosure: The Big Picture. The bailout bill: On October 2, the Emergency Stabilization Act of 2008 (the bailout bill) became law. This law allocated over $800 billion to the Secretary of the Treasury to deal with the economy and the housing crisis. Under the Act, the federal government will be pressuring banks and mortgage lenders to participate in the Home for Homeowner’s Act by agreeing to replace current high-cost mortgages with FHA-insured 30-year fixed-interest-rate mortgages. To assist in this effort, the new Act modifies the Hope for Homeowners Act by eliminating that Act’s requirement that the new FHA-insured mortgages be for no more than 90% of the current appraised value. Now, the current lender can be offered any percentage of the current appraised value that the federal government decides is appropriate (even if it is more than the appraised value).
Chapter 3: Can You Keep Your House? Should You? Options under the Hope for Homeowners Act: Under this new law (effective October 1, 2008), you may qualify to have your current mortgage replaced with a new FHA-insured, 30-year fixed-rate mortgage for the current appraised value of your home (a little more or less depending on federal policies still in development). See Mortgage Refinancing to Avoid Foreclosure in the Nolopedia for details.
If you are way upside down on your mortgage, this would mean a dramatically lower payment. However, there is a catch: Your ability to take out a second mortgage on the house will be greatly restricted. Also, if you acquire some equity in your home later on and want to refinance or sell the house, the federal government will be entitled to a share of the proceeds. If you sell the house within a year after issuance of the mortgage, the federal government will get 100% of the proceeds. This federal share will decrease to 50% over a five-year period and will remain at 50% after that. If your main goal in keeping your house is to build equity, this might not be such a good deal since you’ll have the federal government as an equal “partner” (at best). On the other hand, if you are not concerned about building equity but rather want to keep the house as a good place to live for you and your family, the Hope for Homeowner’s Act can help you realize that goal.
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Tuesday, December 30th, 2008
… two to three hours reviewing paperwork and asking questions. Frequently an “oh, by the way” comment can make a huge difference. A couple of weeks ago, for example, I was meeting with a homebuilder about possibly filing bankruptcy. …
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Tuesday, December 30th, 2008
December 30, 2008 | Posted By Editor Comments / Questions (0) | print this article. Stop the madness! You don’t have to be bogged down by high interest rates. Check out these tips on how you may be able to get lower interest rates and …
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Tuesday, December 30th, 2008
Stop the madness! You don’t have to be bogged down by high interest rates. Check out these tips on how you may be able to get lower interest rates and save yourself some serious cash: Review your latest statements. Figure…
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Tuesday, December 30th, 2008
I stop my studying in 2001, and filed for bankrubtcy. and discharged. I am paying small monthly payment for ontario s.l ,and also I was paying to hrdc collection for canada s.l, until the changed the collection procedure. now i don`t pay for federal s.l, and collection agency were calling untill last coupple of weeks.
Could you please give me some advice about my s.l status. should I file for bankrubtcy again to clear my s.l, or they will be write off by the both government. as I still can not affort to pay the required monthly payment.
Thanks.
Posted from: Ontario
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Tuesday, December 30th, 2008
It used to be that you could simply file for bankruptcy if you got into too much financial trouble. Or at least that was the mindset of many consumers in the U.S.
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Tuesday, December 30th, 2008
c) file for bankruptcy; d) file a consumer proposal;. If you have any further questions you are best to contact a local trustee as they will be able to examine the specifics of your situation and suggest the advantages and disadvantages …
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