Bankruptcy Vancouver and Alternatives Information Site

Student Loan

Questions — Wed, 25 Jan 2012 10:02:23 +0000

Is there a chance of my 5 and 1/2 year old student loans old being included if I file for bankruptcy through being in hardship?
What is deemed as being in hardship living in the vancouver area?
Thanks,
~T

Partnership

Questions — Fri, 30 Dec 2011 18:54:57 +0000

We are currently dissolving a partnership business that was operating for 1 year and accumulated: income tax, EI and CPP deductions; supplier owing, over drawn personal credit cards,etc. Combination of bad management, growing too quickly and not having the right employees. Partnership is currently being dissolved. Number of employees down to 25% of original. Can hardly make salary every 2 weeks. What debts can the bankruptcy absolve? One partner has assets, other partner has none. What are possible consequences?

Unforeseen real estate commissions.

Questions — Tue, 11 Oct 2011 23:29:52 +0000

I am a real estate salesman in BC,,, I have no commissions coming in at the moment, but have some clients. but no pending sales.. I have enough debt around $80,000 that I cannot maintain presently… What happens if I declare bankruptcy now, and 2 months down the road I receive say a $15,000. commission?

p.o.

Questions — Mon, 18 Jul 2011 12:33:02 +0000

hello.my question is,i filed bankruptcy in 2000 but i learned recently that i wasnt discharged because i failed to complete the final expense report {period of which i was incarcerated also to the knowledge of the trustee}.am i still in bankruptcy or am i considered never been bankrupt.if im considered never bankrupt can my previous debters come to haunt me. {if they knew}!! sugestion please.

How to file Bankruptcy with NO income

Questions — Thu, 14 Jul 2011 03:22:36 +0000

I have a challenging financial life situation. I am 56 year old, unemployed for the last year and a half. I filed tax returned regularly. I have visa credit debt for 12000, and almost paid student loan. I have a family of three, me my wife and a teenage son.The second child is a part time university student who lives separately. My wife earns net 4200 monthly. We rent an apartment, no car. We do not have any joined loans or credits. But my wife has loaned her visa debt, 13000 to pay monthly for three years.
I do not have resources to pay visa; recently the bank has increased visa interest dramatically up to 24.99%.
Is the personal bankruptcy would be the best choice for me?

bad credit

Questions — Wed, 11 May 2011 16:27:56 +0000

i left canada in late 2008 abandoning my studentloan obligations (15,000) the bank insited on withdrawing the funds from my bank account, making my overdraft disappear ($200) and i guess the payments bounce. I alsoleft behind about (2500)in credit card debt. I am coming back to canada and would like to buy an appartment, but first, i obviously need to clear up my bad credit problem that is surely out of control in collections now, is there a way to fix my problem by settling?
pedge10@gmail.com

bad credit

Questions — Wed, 11 May 2011 16:26:52 +0000

Bankruptcy & Taxes

Questions — Tue, 05 May 2009 21:39:00 +0000

Question: I am self employed and owe a great deal both in personal income taxes and GST, does filing personal bankruptcy dissolve these debts?

Answer: Yes, personal bankruptcy discharges tax debts. However, it is important to make a plan so that in the future you don’t get behind on your taxes. We strongly recommend that you discuss this with your Vancouver bankruptcy trustee.

personal and business bankruptcy

Questions — Mon, 27 Oct 2008 16:28:00 +0000

Question: If i have debt that is both personal and from my own business do i file bankruptcy separately? or can it all be filed together?

Answer: If you have a corporation, the corporation’s debts can only be discharged if the corporation files bankruptcy. You would be able to personally file bankruptcy on any debts in your name, or corporate debts that you have personally guaranteed. A Vancouver bankruptcy trustee can provide you with more information.

Tax Debts and Credit Cards

Questions — Mon, 11 Aug 2008 00:31:00 +0000

Question: I have 30,000 credit card debt and haven’t filed taxes in 15 years. i have worked for cash, straight check,and under a company in my own name,for which i have no records . haven’t worked for months and need to resolve this situation. where do i start?

Answer: If you truly want a fresh start, you should start by filing your missing tax returns, which you may only be able to do by estimating your income for the missing years. Once the returns are filed, if you owe a significant amount of money, a bankruptcy would be an option, although until the numbers and your job status are known, it is not possible the determine the correct course of action.