Bankruptcy Winnipeg

lost

2012-05-11T17:06:08Z

i have a 50,000 mortgage, 97,000 line of credit, 15,000 due to revenue cda, credit card debt 15,000 – home worth approx 210,000 no other debt – income 3000 p.mnth on short term disability – starting to go deeply into debt, what should i do ??

Line of Credit

2012-04-23T14:40:30Z

My sister has a mortgage, a maxed out line of credit secured by her home. If she declares bankruptcy, does she still have to make payments on the line of credit?

garnishments

2012-04-04T01:54:37Z

Once a garnishment order has been served to your employer can you still go bankrupt as well can you file for bankruptcy if your divorce order has not been finalized?

Secured or Unsecured

2012-03-27T22:52:19Z

Is a student line of credit that was co-signed by a relative secured or unsecured?

death in family

2012-03-16T17:55:01Z

my mother justed passed away. We have just found out that unfortuantely she used about 8 credit cards to the tune of $95K. We have no idea what she purchased. Dad\’s house – might be worth $50K and that is pushing it. He is has CPP, OAS, a small army pension. He is continuing to work at minimum wage. He had no idea of this. He cannot pay this debt off. No mortgage on house – which is in a very remote area. Has a car – value $1500 at most. He is hysterical and we don\’t know what to do next???? Any suggestions greatly appreciated.

claiming bankruptcy overseas

2012-03-08T08:32:14Z

I moved to Australia in July 2011, I have a mortgage and a personal loan still in Manitoba. I thought I would have a job by now and continue to pay the mortgage on the \”HOLIDAY HOME\” while working in Australia. I am now down to my last 300 dollars and I still can\’t find work. I\’m on a temporary visa but I do have permission to work. I can\’t apply for any benefits here as I\’m not a citizen and I can\’t afford to fly back home to look for work. I have spent many sleepless nights trying to figure out what I can do and the only thing I can come up with is to declare brankruptcy. Can I declare bankruptcy from overseas?

cash handling

2012-02-22T15:11:58Z

If a person has claimed bankrupcy can they then be employed where they will handle cash?

Director of a company

2012-01-16T20:17:40Z

I was discharge in April 2006. Can I be a director of a company?

Help in deciding between proposal vs bankrupcy

2011-11-28T19:25:58Z

Question:This is my first time filing for either proposal/bankruptcy

have a total unsecured debt of $70,000 (between husband/wife)
has mortgage balance of $296,000
house valued at $304,000
car loan of $38,000
vehicle valued at $28,000
net monthly income is $5300 (joint)
utility/bills total is $4800

questions:
1. will we be able to keep both our house and car?

2. how much would we have to pay a creditors for in a proposal/bankruptcy?

3.how long will we be in a proposal/bankruptcy?

thank you

Answer: Yes, in a consumer proposal you are permitted to keep all of your assets. In a bankruptcy you can keep your car and house, because in your case they have minimal or no equity (meaning if you sold them, and paid off the loan/mortgage and costs to sell, there would likely be nothing left over). However, if you keep your house and car you are required to continue making the mortgage and loan payments, so you will need to decide if your cash flow can support that. More to the point, if your car loan is $38,000 and the vehicle is only worth $28,000, it may not make sense to continue with the loan.

The cost of a proposal or bankruptcy is based on a number of factors, including your surplus income, which is based on your family size. The proposal payment is also influenced by the nature of your creditors. In simple terms a proposal for $70,000 in debt would probably be somewhere in the range of $25,000 (say $500 per month for 50 months), but that is just a ballpark figure.

We suggest you contact a Winnipeg bankruptcy trustee and consumer proposal administrator to review your specific situation and give you a more detailed answer.

how to stop my wages from being garnished so much each month

2011-11-22T02:18:49Z

Hi there
I just would like to know how I can stop my wages being garnished so much each month, Iam on a limited income now and can not survive its taken everything out of me and every time I turn a corner something else happenes and someone else wants more money please help tell me what to do