I've been living with my partner since last March. I've accumulated debt over several years, while my partner owned a mortgage-free house that he sold before we met. He lives off the proceeds from that sale but has no other income. We each pay half of our shared expenses. 1. If I file for bankruptcy, will my partner's income be considered, or will only my income be taken into account? 2. I recently lost my job and would like to know if my disposable income will be calculated based on my current income or my income from last year. The same question applies if I find another job later. 3. Is it possible to offer creditors a three-month payment deferral instead of filing for bankruptcy? 4. Is a line of credit from the bank for studies considered a student loan that cannot be included in bankruptcy proceedings? 5. Can I file for bankruptcy and a consumer proposal just for my car? 6. I have $4,000 of credit remaining. I'm thinking of using this credit to start a business. It won't leave me much time or money to make it profitable and meet my payments, so if it doesn't work out, could these expenses be considered fraudulent?
1. No.
2. Current income and income earned during the bankruptcy.
3. Yes, if they agree.
4. Such a line of credit is not a student loan, therefore it is dischargeable.
5. Bankruptcy or a consumer proposal allows you to keep your car if you continue making payments.
6. Do not use this credit because it seems clear that you will never be able to repay it.
2. Current income and income earned during the bankruptcy.
3. Yes, if they agree.
4. Such a line of credit is not a student loan, therefore it is dischargeable.
5. Bankruptcy or a consumer proposal allows you to keep your car if you continue making payments.
6. Do not use this credit because it seems clear that you will never be able to repay it.
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