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QUESTIONS? ASK A TRUSTEE.
If you cannot find the answers to your questions on our FAQ page or elsewhere on our site you can click on the map at this link and ask any of the trustees your question.
If you would prefer, you can ask me your question by clicking on “Comments”, below and filling in the comments box. This service is confidential as your email address will NOT be displayed anywhere on your post.
Your question will be answered the same day.
Bookmark this page so you can check back for your answer!
IMPORTANT:
We can answer general bankruptcy questions. Specific questions probably cannot be answered because bankruptcy is complex and many questions cannot be answered without having full financial information. This is the purpose of the initial consultation with a trustee which takes approximately one hour.
A number of people have asked detailed questions on how to get around the fact that they lied on a credit applications or some other form of misrepresentation in order to get credit. We cannot answer these questions as it would not be proper. Trustees are officers of the court and cannot give advice on getting around the law.
Please don’t ask us questions if you already have a trustee. Your trustee knows all your financial information and can give you better answers than I can.
Please keep your questions down to one or two, at the most. If you have more questions than that you probably need an initial consultation with a trustee which takes approximately one hour.
Please do not ask for a legal opinion. If you want a legal opinion you will have to consult a lawyer.
We are at our wits end. Due to employment interuptions over the past 5 years we have used our credit cards to basically survive. We are 57 and 67 years of age. Our problem is we have both claimed bankruptcy prior. once for me and twice for my husband. The first time was due to addictions which he has conquered. What are our chances of being able to claideshilm one last time.
Thank you for answer. Can i ask if in this case ( salaries in 2 countries, one being Canada) the limit for the 9 months discharge is the same? Because there are two rents to be paid, expenses, etc.
JO: He can claim again. The penalty is likely to be an extended time in bankruptcy. This will be set at the discretion of the court.
Tim: The limit will be the same because you (or her or both) have elected to take on these additional expenses rather than live under one roof.
I filed for bankruptcy in Feb 2008. My husband’s company for whom I was a director, owed $40,000 plus in HST to CRA. CRA confiscated my 2008 tax refund. They now have held up my 2009 refund but I cannot find out why from CRA as no agent has any reason why this occurred. Is there any legislation that says CRA can withhold my tax refunds in the years post bankruptcy? Being cleared of the HST debt was the main reason we filed in the first place.
Lisa: Your bankruptcy would have erased that debt. I suggest you send CRA a copy of your Discharge Certificate and ask them to take any holds off your account.
I have 2 more years and I am clear of the 6 year term in BC for bankruptcy. I received my credit report the other day to see the current status which the most recent companies are showing as R1! Yeahh!! ..here is the question. The creditors that showed up at the meeting of creditors show “included in bankruptcy” while the creditors that did not show up still are shown on my credit report as gone to collections but do not show up anywhere that they were included in the bankcruptcy. Will they automatically be wiped off after my term is completely up? Why do they not show up as included? Is this something I should be concerned about when 2012 hits? Thank you for your time.
Dawne: They should be removed automatically. However, you must follow up to make sure your credit report is correct. Please refer to the following link which goes into some detail on how to clean up your credit so you are eligible for loans including mortgages:
http://www.bankruptcycanada.com/rebuildcredit1.htm#cleaning
My Husband and I claimed Bankruptcy, How long after can we get a mortgage for a house?
Ellen: You should be eligible 2 years after your discharge if you take positive action. Please refer to the following link which goes into some detail on how to clean up your credit so you are eligible for loans including mortgages:
http://www.bankruptcycanada.com/rebuildcredit1.htm#cleaning
my partner wants me to decaire bancrupcy and i need some information?
if he refuses to declaire bancrupy do i clain the joint assets ie house?
if he pays into my rrsp do i claim that?
if we holds co credit cards but i’m the major card holder how does that work?
and what about the other loans we hold together?
i also haven’t worked for ten years and only have a 2004 well used van in several acidents?
can we just take each others names off the joint debts?
I have 22,000 in loans and credit card debit. Also a 10,000 line o credit co-signed. is there anything I can do to claim bankrupcy without hurting the co-signer
Jana: To find out more information about bankruptcy please refer to:
http://www.bankruptcycanada.com/question1.htm
Danny: You must list all your debts if you file bankruptcy. The co-signer will be responsible for the debts he co-signed.
1) My husband must claim personal bankruptcy. Will I have to disclose any of my bank account info. current or prev. to bankruptcy , and will I have to show what I have done with any $ spent.
2) We have a daughter living at home age 23 she does not contribute to the household, is her income included in budget?
3) 10mths ago I transferred $ that I had in an account held jointly by my husband and myself, does he have to declare this as an asset transferred by him?
4) Why do we have to complete a budget monthly?, and what info do we have to provide to support our budget?
Karen: The rules on asking questions, in part (the top of this post), are as follows:
Please keep your questions down to one or two, at the most. If you have more questions than that you probably need an initial consultation with a trustee which takes approximately one hour.
For more information on bankruptcy please refer to:
http://www.bankruptcycanada.com/question1.htm
1) My husband must claim personal bankruptcy. Will I have to disclose any of my bank account info. current or prev. to bankruptcy , and will I have to show what I have done with any $ spent.
2) We have a daughter living at home age 23 she does not contribute to the household, is her income included in budget?
What happens if I didn´t declare bankruptcy,if I just stop paying my debts and I didn´t go to the trustee..?
Karen: You should not have to disclose any of your financial information if you are not filing. You daughter’s income need not be included if her income is hers only and not part of the family income.
Jeremy: Doing nothing is often a good strategy, especially if you are judgement proof:
Judgement Proof:
A term to describe assets protected from being seized by a creditor. i.e. assets a creditor cannot seize by going to court and getting a judgement.
Also refer to:
http://www.bankruptcycanada.com/bankruptcyexemptions.htm
I own a business which I am stuck with. I can not remortgage or qualify for a consolidation loan . I am about 37000. in debt and my husband resently pasted away . I would like to know if i could claim bankrupcy without lossing my house or business
Nancy: The assets you can keep in a bankruptcy are set by the provinces:
http://www.bankruptcycanada.com/bankruptcyexemptions.htm
if i bought a motor cycle for my partner on a credit card he went and put it in his name and now does not want to suport his family can the card company still repo the motor cycle
I’m a 26 year old part time student. I have a full time job, where I make about 40,000$ a year after tax. My problem is that I’ve gotten into severe debt, brought on by loans and a credit card that I’ve had to use to help finance my parents and their fight in court against a multi national insurance company. It’s gotten to the point where I can’t pay the monthly payments on my credit card or the loan, I’ve defaulted, and am now being harassed by collections and threatened by a bailiff for my credit card. My debts are around 41,000$ As well because of my household situation, I’m the primary earner in a household of 8 people, helping pay for the utilities, food, mortgage - where the majority of my salary goes to monthly, I don’t even have enough to save, let alone pay my obligations to the loan & credit card.
I’ve come to the reality that I probably will have to file for bankruptcy. My question is will my wages be garnished? As well, will my car be taken? The car is important to the family, as it is the primary mode of transport for the family, it’s used to bring my mother (who has a heart condition) to doctors appointments, and to pick up/drop off the kids.
Sorry for my life story, if you could clarify those two questions. I’m in the Montreal region, in the province of Quebec.
Thank you so much for the link to information on my credit report. The one inquiry I have is that they state to provide Equifax with your “Absolute Discharge” and the statement showing all creditors that were included. My discharge is a “Conditions Met”. Are they one in the same? Or should I have received another document?
Thank you.
How long after a DISCHARGE FROM BANKRUPCY does the bankrupcy get removed from a credit report? Do I have to call the credit reporting companies? I was told 7 years BUT is it 7 years from the day you delared bankrupcy or from the date of discharge?
Jana: Probably not unless they registered a lien on the bike.
Bill: If you file bankruptcy there will be a stay of proceeding in effect that will prevent wage garnishees and other action by creditors. The province sets the exemptions or assets you can keep in a bankruptcy:
http://www.bankruptcycanada.com/Quebec-Bankruptcy-Exemptions.htm
Dawne: Use the “Conditions Met” document.
Thank you for the link to cleaning up your credit. It was very helpful. However, they are talking about an “Asbolsute Discharge” for verification that you have been cleared of debt from bankruptcy. My discharge was a “conditions met”. Is this the same as an absolute discharge?
I apologize, I just saw your answer. Thank you very much!
Dianne: It is 6 years from the date of the discharge or successful completion of a proposal. You should not have to call them but do check to make sure they have done it correctly. For more information please refer to:
http://www.bankruptcycanada.com/creditbureau1.htm#bankruptcypolicy