A few weeks ago, I went to a trustee's office for an initial, informal meeting to better understand the "option" of personal bankruptcy, which I believe would be the solution to my debt problem. I didn't get all the answers I was hoping for: no written information or website was provided, and my own research in this area was unsuccessful. I pay child support to my ex-partner for custody of our two daughters. We reached an out-of-court agreement to determine the amount. Do I need to provide proof of the judgment? Who will determine what assets are subject to seizure and who will inventory them? Will the trustee be obligated to review my bank account to find "interesting expenses" over the past few months? I feel quite overwhelmed by the responsibilities that bankruptcy entails.
You will need to provide the trustee with a copy of the agreement between you and your former spouse, if there is no court order.
You must declare to the trustee any unusual expenses incurred in the year preceding your bankruptcy.
You will declare all your assets to the trustee, who will inform you of any assets that are subject to seizure, if applicable.
If you are not satisfied with your meeting, you are free to consult another trustee, as long as you are not bankrupt.
You must declare to the trustee any unusual expenses incurred in the year preceding your bankruptcy.
You will declare all your assets to the trustee, who will inform you of any assets that are subject to seizure, if applicable.
If you are not satisfied with your meeting, you are free to consult another trustee, as long as you are not bankrupt.
Questions reliées
- A number of circumstances have led to me currently being on social assistance. I met with a trustee for personal bankruptcy. He's asking me for $100 a month for 17 months, which leaves me with $70 a week to feed three people! This is my first bankruptcy, and it's for less than $20,000. Could there be a mistake? It's impossible for me to pay such a large amount monthly. Furthermore, he's asking for an initial $100 payment upon signing, which I obviously don't have. What should I do?
- Are bankruptcies of properties or businesses published? If so, where are they published?
- Can an individual who has declared personal bankruptcy keep their casino and lottery winnings? I checked the websites of Revenu Québec and the CRA: lottery winnings are not taxable and would not be considered winnings. There doesn't seem to be any legislation on this subject in bankruptcy law. If there is, where can I find this legislation?
- Can I change my property manager?
- Currently, I receive Quebec Pension Plan benefits and the Guaranteed Income Supplement. I am 67 years old. After source deductions, I receive approximately $1,600 in total. I own no assets except my old vehicle. What would happen with the tax authorities if I didn't have any taxes withheld at source? Would Revenu Québec and the Canada Revenue Agency use my pension payments to repay them?