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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.
thank you for your quick response.
how do i know if they did take security??one is sears,the other is the brick superstore.
that was in response to the question by worried.i had the same question.
Jenn: Directors’ tax obligations are erased in a personal bankruptcy.
Phu Sy: Sorry but we do not give advice.
Anthony: The house sale may be in jeopardy but one would have to know your financial situation now and at the time of the sale as well as review all the documents. I suggest you consult an insolvency lawyer on this matter.
Teresa: Our bankruptcy predictor will let you know if you can file bankruptcy or a proposal. Please refer to:
http://www.bankruptcycanada.com/bankpred2.htm
My trustee told me that any lottery winnings I may get during my bankruptcy goes to her to divide among my creditors, but what about contests for goods? Say I entered a contest and won a $3000 computer or something like that, would I get to keep it?
Andrew: You cannot keep any winnings, whatever their nature.
my question is I declared bankruptcy and then 3 mnths into it i was out of work and had to move around consequently never paid trustee and was never released how do I rectify situation ,
thank you
Morris: Contact your trustee to find out what you must do to get your discharge.
I am co-owner on a mortgage. If I file for bankruptcy would the house have to be sold, or could the mortgage be changed to the spouse’s name only?
Hi, my common law partner has abut 60K unsecured debt, mostly credit cards debt, and about 20K in student loan. I have a house that’s under my sole name, We were together for 5 years now, legally she is entile half of my house. I have two questions: first, it had been 6 years since the last day of her school, if she file for bankruptcy, will the student loan be erased as well. Second question, can her creditors force her to sell my house and pay for the debt? Thank you very much for your reply in advance.
Hello,
My question is:
WILL I BE ABLE TO KEEP MY HOUSE?
I am on a small disability Canada Pension under $700.00 per month. I own a home and have a mortgage approximately $70,000.00. the house is probably worth 350,000.00. I supplement my income by renting part of the home, however through the years tenants caused a lot of damage.
In order to make my home liveable again I hand to spend thousands of dollars in renovations and repairs.
I’ve been hosting international students instead of renting. However, the food costs have risen dramatically.
I’ve been working so hard trying to meet my payments, I have not even gone to the dentist in more than 2 years, although I really need to go.
Lately my health has taken a turn for the worse and I don’t know what to do. I’m becomming depressed because I’m unable to cope and physically not strong enough to keep up with the work involved.
I haven’t been able to pay for the telephone, and most of the utilities.
My question is: Will I be able to keep my house?
can my ex-husband claim alimony in his filling for bankruptcy and not have to pay me the alimony from our divorce?
Gloria: Your province gives the equity in a home you can keep in a bankruptcy. Please refer to:
http://www.bankruptcycanada.com/bankruptcyexemptions.htm
Jacky: Your house will not be part of her bankruptcy. Student loans can be erased in a bankruptcy if the person has been out of school 7 or more years.
Please refer to:
http://www.bankruptcycanada.com/PropChngsBIA.htm and
http://www.bankruptcycanada.com/question1.htm#d
Fatima: Your province gives the equity in a home you can keep in a bankruptcy. Please refer to:
http://www.bankruptcycanada.com/bankruptcyexemptions.htm
Teresa: Alimony cannot be erased in a bankruptcy.
I am a canadian citizen living in Dubai, UAE as a non-resident. Can I file for bankruptcy in Canada because I can no longer make my house payments? What happens if I return to Canada?
Chad: You may be able to file a Canadian bankruptcy while living abroad. Please refer to:
http://www.bankruptcycanada.com/abroad.htm
I did not finish school but I have student loans and I have been asked to repay since 2007. I don’t have a job and I just had a baby. I have a lot of debts mainly caused by an abusive ex-boyfriend. There is no way for me to pay all my debts.
I read the FAQs and it says that my student loans will NOT be erased if it’s not more than 7 years. My question is, I never graduated (I dropped out since 2007 but never informed my University) does that mean I can only file bankruptcy 7 years after 2007 OR I have to notify the school first before counting the 7 years? Let’s say, I file bankruptcy today. All of my credit card debts will be erased except the student loans. In 7 years, my credits will start over again but what if I still could not repay my student loans completely, will they be removed? How does that work?
Also, I have lots of debts from credit cards used by my ex and now they have been sending me mails saying they will take further actions to take away my things. I own nothing, so it doesn’t matter to me but I got married recently and I want to know if the creditors can take my husband’s assets.
Amy: Your student loans will not be erased in a bankruptcy unless you have been out of school 7 or more years. For more information please refer to:
http://www.bankruptcycanada.com/PropChngsBIA.htm
Your husband will not be affected by your bankruptcy if he did not guarantee any of your debts. Please see:
http://www.bankruptcycanada.com/question1.htm#d
My son is onsidering personal bankruptcy. My will states that my csildren, three, will inherit my property as joint owners in case of my deth. If I die, and my son declares bankruptcy, would the creditors be entitled to claim his portion of the property.
Fred: The creditors would be entitled to call on his share of the inheritance to repay the amount owed if he is undischarged at the time the inheritance is triggered.
HI
I owned a business in BC. I need to know if I need to bankrupt the company in the same province in which it is registered, or can it be done anywhere as long as it is in Canada. Reason is that I am no longer in BC
Thank you so much for your valuable time
Gilles
I am just in the process of filing for bankruptcy. After you recieve your letter of discharge nine months after you have filed how is easy is it to rebuild your credit rating? Are there some things that should be avoided and things that one should do? Is there a better credit card to look into? while i am in bankruptcy can i pay into a credit card so that i can use it for purchasing an airline ticket or to pay for an unexpected emergency?
Thanks, Jennifer
Jennifer: Please refer to the following:
http://www.bankruptcycanada.com/rebuildcredit1.htm
When cars are repossessed in British columbia can they get you for the remainder of the loan plus other expences.
Hi, my spouse and I have recently seperated. He has advised me that he plans to file for bankruptcy as he is not able to keep up with his payments. We financed a vehicle jointly about 6 months ago. Both of our names are on the ownership. we have agreed that I will keep the vehice and make the payments. Will his bankruptcy affect my vehicle? There is no equity in the vehicle.
i went bankrupt 3 yrs ago,for the 3rd time in 26 yrs. my dad just passed away and we are not discharged yet. do i have to disclose my inheritance,which i wont receive for at least 2 or 3 mths to the trustee and am i required to pay back all the creditors with it. if i did that,would i still be bankrupt?i apprec your reply,thanks,roz
Kirk: In BC, when seizing a vehicle that is personal property (i.e. property belonging to an individual and not a corporate entity) there is a “Seize of Sue” clause in effect. This has the effect that the creditor can seize or sue but not both. Therefore, if a vehicle is seized and then sold and there is a shortfall the creditor cannot pursue the debtor to make up the shortfall.
Seperated: You will be responsible for making the payments on the car loan since you financed it jointly.
Roz: You must disclose the inheritance to your trustee.
If I have a loan with a cosigner and I declare bankruptcy, do I have to claim this loan on the list of debts or can I just keep paying that and leave it out of the bankruptcy?
Sue: You must declare all debt when you file bankruptcy.
my daughter lives in the Us and I was put on her and her husbands chequeing account here in Canada, this was only so I could be on the account for emergencies. I have never written cheques or taken money out of this account only put money (that was their\’s less than 400) into it. My question is this: If I go bankrupt will the trustee have access to this account.
Jane: You must divulge this account to the trustee.
I left Canada due to personal reasons in 2003 owing about 85000 dollars in unsecured debt. I did not give my address or contact any of the creditors after I left the country. I have now returned to Canada and want to clear the debt in either a consumer proposal or bankruptcy. There is one judgement for 40,000 dollars obtained in 2003 against me. I do not know the status or the amount I currently owe on the remaining debt or who I owe it to.(The debt was sold) How do I proceed?
a follow up to my earlier message “Sam says: July 5, 2009 at 9:34 am”
I have another problem , I have returned to Canada just last month and staying with my friend. I don’t want to give his address for communications. I can rent a mailbox. I don’t have a Canadian credit card although I have reopened my dormant BMO current account. Can a trustee handle my case without a fixed residential address? Can the trustee help me get a credit report?
Sam: You should be able to get a list of creditors by requesting a credit report:
http://www.bankruptcycanada.com/creditreport.htm
The trustee will want a civic address and not just a PO Box.
I owned a business in BC. I need to know if I need to bankrupt the company in the same province in which it is registered, or can it be done anywhere as long as it is in Canada. Reason is that I am no longer in BC
Thank you so much for your valuable time
Gilles
In reply to ” Trustee says: July 5, 2009 at 5:11 pm”.
Thank you for the prompt reply. I took your advise and had my friend , a a furniture retailer , pull my credit report from Equifax. The judgement that I mentioned earlier is not in the report. And the total debt is less than what I think should be. Does it mean that any debt not in the report is SOL?
when going to a trustee how far back will he/she want credit card statements and bank statements or will he access them himself? How is it determined as to how much you pay per month, a percentage of your income, if you are self employed and the amount changes every month how is it determined.
I HAVE A QUESTION FROM A TURSTEE, AND HOPE YOU CAN ANSEWR OR TELL ME WHERE ABOUT ON YOUR WEBSITE I CAN ASK A TRUSTEE?
I BORROWED FROM MY BORTHER $60,000 TO PAY OFF SOME CREDIT CARD DEBTS. I AM AOBUT TO FILE BANKRUPTCY AND WANT TO SELL MY HOUSE AND PAY MY BORTHER FIRST. HOW CAN I DO THAT.
THANK YOU
please let me know how i can ask a trustee on your website.
thanks
Hello, this is my second bankruptcy in 15 years. The reason I went BRPT were both due to business failures, having personally signed off on bank demand loans against receivables. I could have just wound down the corporation and not paid the unsecured vendors but wanted to be able to continue to be able to work in my industry ( You get to work closely with most vendors repetitively) so I bit the bullet and paid off all the vendors large and small and went personal owing $60 000 on the demand loan to the bank and some Credit cars. My question is this. Being my second bankruptcy I must appear before a judge to be released this month and they have asked me to fill out a monthly income and expense sheet which includes my wife income. She had nothing to do with the firm I owned and we are separate as to property, she owns the house, the mortgage being in her name. Why would they involve her, she is making $ 100,000 plus which was a blessing being able to keep us a float as I get organize to start new.
Thank you in advance for your comment……
Hi
if i share a joint account with my spouse can the creditors go after that account if only I claimed Bankruptcy?
thanks
Abe
Gilles: A BC trustee will have to handle this.
Sam: A debt does not have to be reported to the credit bureau in order to be valid.
Jane: It is at the trustee’s decision as to how far back he wishes account information.
Irregular income will be averaged over the term of the bankruptcy.