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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.
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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.
Mable: The 2009 refund belongs to you. CRA may send it to the trustee, since they have that address on file. However, the trustee will return it to you.
Thank you so much for clarifying this for me.
My bankruptcy trustee will not return my calls after several attempts to contact him. I am in the 12th month of my 2nd bankruptcy and want to know what my obligations are from now forward. I believe that I should have a statement sent to me of what my obligations are and a court date for a judge to decide when I will be discharged. Are these assumptions correct? And what can I do about my failed attempts at speaking with my trustee?
Merv: I suggest you contact the trustee office one more time and leave a message that you will be contacting the Office of the Superintendent
of Bankruptcy if you do not get your call returned by the next day:
http://strategis.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br01003.html
I owe $105,000 to Credit card companies. I have no money or assets whatsover. Assuming I remain without money, income or any assets for the rest of my life, and never make a payment towards my debt, when does the debt expire? I heard after 3 years if the debt lays dorment it gets erased completely. Is that true? I live in Quebec by the way.
Good day,
I have a question, I am thinking of filling for BK in the province of Quebec. However; I have a joint bank account with an overdraft protection (we are not using the overdraft at the moment) and I have a joint credit card with a $0.00 balance. Do I have to declare these to the trustee since both of these are joint and we dont owe anything on them or can we keep them in case of emergencies.
I have been discharged from bankruptcy for 12 years but I find when I deal with banks now they always ask the “have you ever been bankrupty” question. Must I answer this yes?
Alain: The Limitation Acts are tricky. Before relaying on them you should contact a lawyer.
LS: You must declare all debts and hand in all credit cards to the trustee.
Bern: I can’t comment on matters dealing with ethics or honesty outside of a bankruptcy context.
I have talked to a ‘consultant’ about doing a consumer proposal. She would prepare all the documents for the trustee for a hefty fee. If I went directly to a trustee, would that person do the work with the creditors for the imbedded fee, or would there be additional charges? Do I need this additional consultant?
Judie: The consultant’s work would be finished once you see the trustee. The trustee’s costs are set by the government and based on the amount paid into the proposal. The trustee’s costs include drafting the proposal.
I would say if you had a very complicated financial situation and a large dollar value of assets that it might be advisable to hire an experienced insolvency lawyer to advise you and to draft the proposal.
The trustee has a responsibility both to you and the creditors. For more on this please refer to:
http://www.bankruptcycanada.com/MeetingtheTrustee.html
I have a question. I owe $7900 in unsecured debt. I have a vehicle, which was paid off in better times. However, my husband is using it to go to work (an hour away from home; I work in town and can take public transit). We have a young child at home, and my husband’s wages pay for everything. I work part-time, whereas full-time, my wage would all go to daycare.
My vehicle is worth about $4500. My camera gear (pro camera and lenses), and my studio light, paid off as well when times were better, is worth about $2500. In better times I made extra cash from my camera doing photography (I went to school for this), and would like to start again to get ourselves ahead. If I filed bankruptcy, would I lose my camera and my car??
Vera: The provinces set the exemptions or assets you can keep in a bankruptcy. The camera equipment may fall under the exemption “Tools of the Trade”. Please refer to:
http://www.bankruptcycanada.com/bankruptcyexemptions.htm
Hello Trustee,
I have accumulated a bit of credit card debt and am now dealing with it all. I was unemployed for over a year and neglected to pay my credit cards. I have a debt in collections at an R9 rating (so am not approved for a consolidation loan from a financial institution even with a cosign). I am flexing all available options, and the most logical seem to be a Consumer Proposal or Bankruptcy. It is my understanding that once someone files for bankruptcy, this is a permanent mark on their credit, correct? I was wondering how it compares with a Consumer Proposal. The collection agency that keeps calling says that even Credit Counselling leaves your credit at an R7 rating. Is there any way that you can get over this permanent flaw with a proposal?
My total debt includes $9000 (spread over three credit cards) and approx. $4200 federal student loan (less than 7 years).
-j
Jay: A bankruptcy stays on your credit bureau report for 6 years after you are discharged. A proposal stays on you credit bureau for 3 years after the proposal is satisfied.
If you take the correct steps you should be eligible for credit including a mortgage 2 years after your discharge. Please refer to:
http://www.bankruptcycanada.com/rebuildcredit1.htm#cleaning