Archive for March, 2009
Tuesday, March 31st, 2009
Filing bankruptcy can be both a rough time and an utter relief. Why? Well, filing is a big step towards getting your financial house in order and finally getting a discharge. What is a bankruptcy discharge and why is it important? I’m glad you asked.
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Tuesday, March 31st, 2009
Nice words. But if he really believes his rhetoric, why is he using taxpayer dollars to protect GM and Chrysler from bankruptcy? Surely an ingenious and resilient people can weather the bankruptcy of these ancient behemoths. …
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Tuesday, March 31st, 2009
Peter Gitundu asked:
Most people today are going to court to seek protection from the harassment of creditors once they have been unable to pay their debts. There are mainly two chapters under which bankrupt people can file a petition. The liquidation chapter has some of the debtors property sold in order to pay off outstanding debts. There are several facts that the debtor must equip himself with when such a situation occurs.
In Personal bankruptcy filing, one can protect their personal property from being taken over by the creditors. One risks being sued by the creditors and loosing all they have if they do not file a financial distress petition in court. This move will protect the consumer property especially if the property cannot cover the debt once sold. The court must evaluate property such as an automobile and house, if they will not be worth the net debt then the debtor will be allowed to retain such property.
Many people live in fear that once they file a personal insolvency petition, creditors may continue to harass them. The truth is that immediately the court has received the petition, it stops the creditors from any collective action against the debtor. The court appoints an attorney who is to answer to any creditors. There will be no more communication between the creditor and the debtor once the petition has been filed.
Debtors should be advised that personal bankruptcy could be the only option left when all has been done to no avail. It is important for anyone willing to go this way to get advice from the appropriate persons to allow them make informed decisions.
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Monday, March 30th, 2009
Starting March 30, consumers buying a GM or Chrysler vehicle have their warranties honored in the event that the maker of their car or truck goes into bankruptcy.
The government will finance the companies’ …
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Monday, March 30th, 2009
my mom has huge credit card debt, we own a home 50/50 with no mortgage, I have told her to put it in my name and declare bankruptcy, she refuses. If she declares bankruptcy, can they take the house?
Posted from: British Columbia
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Monday, March 30th, 2009
If she declares bankruptcy, can they take the house? Posted from: British Columbia. Filed under: What I Keep or Lose in Bankruptcy in Canada. posted by Questions @ 10:30 pm. 1 Expert Comment: Click here for more information about Barton …
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Monday, March 30th, 2009
The company had 2 directors, 1 resigned I am now left the sole director. The company is insolvant, no assets. Over 3 years the other director failed to pay all the source deductions. Am I responsible as a director for the employer portion of CPP & EI
Posted from: Ontario
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Monday, March 30th, 2009
Can I switch to bankruptcy from credit counselling program ?
Posted from: Ontario
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Monday, March 30th, 2009
are resp total value taken into account when filing a consumer proposal
Posted from: Ontario
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Monday, March 30th, 2009
i have no expertise in the area of bankruptcy - i’m a loan officer. though i know a great deal, it’s not worthy of spouting to those with specific questions. legal questions, in my opinion, are best addressed to those in the legal …
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