Bankruptcy Questions Answered

Garnishee

Questions — Wed, 19 Nov 2008 05:12:00 +0000

I have lots of debt and now I have lost my job. I will go on E.I. I was wondering if the creditors can garnishee my E.I. payments?

Posted from: British Columbia

Supporting family during a bankruptcy

Questions — Wed, 19 Nov 2008 04:55:11 +0000

I support my old mother and widowed sister who live in another country by sending them $3000 a year. I now have to declare bankruptcy due to marriage breakdown resulting in financial problems. I was wondering how my support payments to my mother and sister be viewed in bankruptcy? Will I be able to continue to send that money during the bankruptcy?

Posted from: British Columbia

what is a person who files a consumer propsal called?

Questions — Wed, 19 Nov 2008 04:30:45 +0000

A person who filed for bankruptcy is called bankrupt. A person who submits a consumer proposal is called ?

Posted from: British Columbia

entering into a consumer proposal

Questions — Wed, 19 Nov 2008 03:19:07 +0000

I am considering entering a consumer proposal. My student loan debt is about 38,000 and are not able to be discharged until Aug 2011. I have under 75,000 debt at present (including student loans) and was thinking I would enter a three year consumer proposal (I`ve been told about 700/month payment) and then consider filing for bankrupcy upon completion of the proposal. Any thoughts about this plan? Thanks!

Posted from: British Columbia

secured vs unsecured loans

Questions — Wed, 19 Nov 2008 01:27:18 +0000

I have unsecured debt of approx. $50,000 and a secured auto/personal loan with $10,000 remaining. I have paid this loan faithfully and on time (as I have with all of my other debt) until now. Question: I am suddenly without work and need my car to secure work — will the bank re-possess the vehicle despite my needs and payment record? (My wife could make the monthly payments)

Posted from: British Columbia

If Cars Industry Goes, So Will Millions of Jobs

Editor — Wed, 19 Nov 2008 00:05:27 +0000

Moody’s Economy.com chief economist Mark Zandi estimates that 2.6 million people will lose their jobs if GM, Chrysler and Ford collapse and that the economy is too weak to handle such a big blow. That number includes 250,000 people who...

Husband Filed For Bankruptcy

Questions — Tue, 18 Nov 2008 18:23:36 +0000

Further to my question posted on November 17, my ex-husband already sold the car privately but not for enough to have the lein taken off the loan. Can the car still be repossessed?

Posted from: Newfoundland and Labrador

How to Rebuild Your Credit After Bankruptcy

Finance: Bankruptcy Articles from EzineArticles.com — Tue, 18 Nov 2008 17:53:03 +0000

Chapter 13 Bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts.

Bankruptcy, Misconceptions and My Finances

Finance: Bankruptcy Articles from EzineArticles.com — Tue, 18 Nov 2008 17:39:07 +0000

When facing a foreclosure, or even worse, a bankruptcy, you have to take into account more than just your current financial situation; you have to be aware of the future financial implications. There is some other information you should have before deciding which road to take; there are some future liabilities that you need to be aware of that your attorney, or even your accountant, will not offer information on, that is if they even know at all.

No. 2 U.S. Bank to Slash 52,000 Jobs

Editor — Tue, 18 Nov 2008 17:35:31 +0000

Citigroup Inc. just revealed plans to cut 52,000 jobs—15 percent of its workforce—by early 2009. This mass layoff is in addition to the 23,000 jobs that were cut between January and September 2008. Expenses will also be cut by as...

Bridge Loaner? But I hardly know her…

jourman2 — Tue, 18 Nov 2008 17:21:57 +0000

Andrew Ross Sorkin takes apart GM piece by piece. While furiously selling off assets, its stock at a 40 year low, a 38 billion dollar loss in 2007, and 25 billion loss so far in 2008, GM seems to be in a worse position than ever. Some argue GM and the big 3 automakers are too interconnected to let fail. But are they? What's the solution? A whole variety of opinions

discharge papers

Questions — Tue, 18 Nov 2008 01:12:57 +0000

I filed Bankrupy in 2005 for the first time and completed all the required duties however, I did not receive any discharge papers what do I do to get them?

Posted from: Ontario

Examining transactions

Questions — Tue, 18 Nov 2008 00:37:17 +0000

An answer put online today talks about the court being able to `examine transactions` of the bankrupt person. What does this mean?

Thank you.

Posted from: Ontario

Owning one house we don`t live in

Questions — Mon, 17 Nov 2008 22:43:40 +0000

We bought our house in a different community than I work. Over the last three years we have created a very high debt load (65000) We had had to move back to the city where I work, and have rented out house for less than our mortgage. The market value is less than our commitment into it, Not including Taxes, Real estate fees and so on.

We bought in another community because housing is approx 12 the cost of the city. We now rent in the city, and save the cost of commuting. There is no equity in our house yet and cannot get a consolidation loan.

Is there a repayment / OP of debt / … solution that we can do without losing the house we put so much work into?

Posted from: British Columbia

Husband Filed For Bankruptcy

Questions — Mon, 17 Nov 2008 22:27:43 +0000

My ex-husband filed for bankruptcy and left me with the car loan. He had signed a separation agreement to make payments to me, but because it`s not support/maintenance, this debt will be discharged. He lied on his bankruptcy statement, however his trustee refuses to investigate this and is taking him at his word. I cannot financially afford to pay for the car loan myself. Can my wages be garnished by the loan company for the car? He sold the car last year, and forged my name on the registration, however it cannot be proved that he was the `forger`.

Posted from: Newfoundland and Labrador

Chapter 7 Bankruptcy - What to Expect When You File Chapter 7

Finance: Bankruptcy Articles from EzineArticles.com — Mon, 17 Nov 2008 21:29:55 +0000

When the word "bankruptcy" comes to mind, people usually think of "Chapter 7" personal bankruptcy because this is the most common one. Under this type of bankruptcy, most of a person's debts are cancelled. However, the person that is filing for bankruptcy may have to give up certain items of property.

court date

Questions — Mon, 17 Nov 2008 20:35:29 +0000

what will happen when i do not attend court date due to some reason

Posted from: Ontario

Handling Ancillary and Cross Border Cases in Bankruptcy Court

Kevin Chern Esq. — Mon, 17 Nov 2008 20:19:08 +0000

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How to Declare Bankruptcy

Finance: Bankruptcy Articles from EzineArticles.com — Mon, 17 Nov 2008 15:51:22 +0000

How to declare bankruptcy is a question that runs through the minds of many people considering bankruptcy. Making that initial decision to file bankruptcy is hard enough that the last thing you need is a complicated process to follow it up. The following explains what you need to do to get to the point of filing bankruptcy and explains how to declare bankruptcy.

Bankruptcy Credit Repair and Understanding What Your Rights Are

Finance: Bankruptcy Articles from EzineArticles.com — Mon, 17 Nov 2008 15:41:22 +0000

It is important that you have a good understanding of your rights when it comes to bankruptcy credit repair. Individuals who have experienced the devastation of bankruptcy are often targeted by companies and financial institutions that deliver the promises of helping them repair their credit to the point where they can purchase a high ticket items like automobiles, property, and homes.

The Five Steps to Life After Bankruptcy

Finance: Bankruptcy Personal Articles from EzineArticles.com — Mon, 17 Nov 2008 15:13:19 +0000

Life after bankruptcy does not have to be horrible. You may feel lost and awful after your bankruptcy is final, but you can pick up the pieces and move on. You can rebuild credit and get on with your life.

do i have to again reside in canada to claim bankruptcy?

Questions — Mon, 17 Nov 2008 13:34:22 +0000

do i have to again reside in canada to claim bankruptcy?
i am a united states citizen who was a resident of canada. i am no longer living where i should claim personal bankruptcy in ontario.

Posted from: Ontario

Income ense statements and consumer proposals

Questions — Mon, 17 Nov 2008 06:15:28 +0000

Is one rquired to submit monthly statement of income and expenses during a consumer proposal like in bankruptcy?

Posted from: British Columbia

Son and surplus

Questions — Mon, 17 Nov 2008 06:12:25 +0000

I am a single father of two children on the verge of bankruptcy. My son works during summer and uses that money for tuition and books. Will that income be included in the calculation of my surplus income ? He also has his student loan approved. Will that be considered in the calculation of surplus income ?

Posted from: British Columbia

Mr. Akela

Questions — Mon, 17 Nov 2008 06:05:06 +0000

Is loosing money in stock market a common reason for bankruptcy? Does it fall under gambling ?

Posted from: British Columbia