Your benefits are not subject to seizure but are taken into account in the calculation of your income to establish the amount of your voluntary deposit during bankruptcy.

Subject to a full assessment of your situation, you may be able to file a consumer proposal to settle these debts.

Your payment will be calculated based on your net income and family expenses.

Your income from all sources will be considered when calculating your voluntary deposit during bankruptcy proceedings.

Use this link to calculate it: http://www.bankruptcycanada.com/Evaluateur-de-faillite-personnelle.php

Not if you continue your mortgage payments and if you make an agreement with the trustee for its equity, if there is one.

Your situation may qualify for a review. The best course of action is to consult your trustee to request one.
If you were forced to declare bankruptcy, you could change trustees; that's your decision.

Here is the information provided by Equifax on this subject (all of which is subject to change):
CONSUMER PROPOSAL: When a consumer proposal is paid, it is removed from the system three (3) years from the date of payment.
BANKLIFT: A bankruptcy is removed from the system six (6) years from the date of discharge if it is a single bankruptcy.
In the case of multiple bankruptcies (where more than one bankruptcy is declared by the consumer), each bankruptcy is kept for a period of fourteen (14) years from the date of discharge of each bankruptcy. All accounts included in a bankruptcy remain on file with the notation "included in bankruptcy" and are removed from the system six (6) years from the date of the last transaction.

Your assets and income from all over the world are taken into consideration.

In a proposal, the law does not require the applicant to hand over their credit cards to the trustee.

However, in reality, the person filing a proposal will almost certainly have all their cards cancelled directly by the issuer, who will be notified of the proposal in one way or another.
Keeping a card under such circumstances will prove embarrassing for the applicant, who could have their card declined at an unexpected time. This is why trustees prefer to collect them.

Creditors can change trustees, but not the debtor.

You might consider consolidating your credit card debts into a loan or consumer proposal.

Yes, of course.
Bankruptcy doesn't prevent international travel in any way.

As with any proposal, creditors can reject the offer made.

In practice, a fair proposal based on your ability to pay will rarely be refused.

Yes, but the government comes after the bank that finances the car, but that's unlikely.

All these debts are dischargeable.

No, unless you have signed a sales contract with retention of title.

Your payment plan must align with your available cash and income. If creditors do not accept the proposed payment schedule, your plan will not be viable.

A social assistance debt is not erased by bankruptcy.

No not at all.

If you sell the trailer for less than its value and then declare bankruptcy, the trustee can ask your mother to reimburse them for its fair value.

If you keep it and declare bankruptcy, the trustee might agree to let you keep it, provided you can pay for it before your discharge.

If the RESPs are in your name, yes.
Children do not own RESPs; parents do.

Yes, because it is part of your assets; it is an account receivable.

If your spouse continues to honor her payments, she should not be affected.

Yes, you can work wherever you want.

However, your rating should follow you as well.

You don't need to take this into account if you continue with the rental.

Your payments are calculated based on your disposable income.
If you accumulate more than 3 months of default, your consumer proposal is cancelled and you start over.

Federal tax refunds from the year in which you file for bankruptcy are part of the bankruptcy assets.

Your credit score will be significantly affected by the payment default on your first home, and this information should remain on your credit report for seven years.

However, this does not give the mortgage lender on your second home the right to repossess it if you are not in default on that mortgage. But it could negatively impact you when it comes time to renew that mortgage.
It remains to be seen whether the mortgage lender on your first home will limit themselves to a mortgage lien or pursue a personal lawsuit against you. That is their choice. If they pursue a personal lawsuit, you may have to consider bankruptcy or a proposal.

Generally, no.

The decision to declare bankruptcy is yours. However, you will need to find a trustee who will agree to take your case. The trustee will verify if you meet the requirements and if it is the best solution for you.

A guarantor is a person, often a family member, who takes responsibility for the loan with you and agrees to repay it if you default.

I have never seen a refusal of this kind for a government-backed student loan.

A non-dischargeable debt is a debt whose execution is suspended during your bankruptcy (you cannot be compelled to pay it), but which you must resume paying once your bankruptcy is over. Non-dischargeable debts are generally those resulting from obtaining goods or services under false pretenses.

Your case appears suitable for a consumer proposal.
A meeting with a trustee is necessary to determine the parameters.

At first glance, yes.

To keep your home, you will need to:

1) be up-to-date on your mortgage payments, taxes, etc.;

2) reach an agreement with the trustee for payment of a reasonable surplus value, if your home is indeed worth more than the mortgage.

These issues will be discussed during your initial meeting with a trustee.

The net value of your share of the house will be considered in your bankruptcy proceedings.
The trustee should try to reach an agreement with your spouse to transfer your share to her.

The trustee in your husband's bankruptcy proceedings will examine the fairness of the price paid for the boat and the method of payment. If the price is lower than its market value, you will be asked to pay the difference. If you didn't pay for the boat but rather settled a debt your husband owed you, this will be considered a preferential payment, and you may have to surrender the boat to the trustee.

In short, the law requires that transactions between related parties not be made to the detriment of other creditors. All the facts must be analyzed and discussed with the trustee.

Generally not, except that if these expenses are extravagant, they could give rise to an objection when requesting release.

Filing for bankruptcy does not require creditor approval. However, they can oppose your discharge at the end of your bankruptcy proceedings, in which case the court will decide.

Contact your trustee immediately. They are a professional in financial difficulties and will be able to find a suitable solution given your challenging situation.

That's very unlikely.

Approximately, yes.

However, the actual cost to an individual depends on their surplus income. Consult the following link to calculate the cost based on your income.

The deposit is calculated based on the family's net income.

It's likely you could file for bankruptcy together.

If you're referring to public sales, the answer is that these cases aren't always publicly advertised, as the properties are often handed over to the mortgage lender.

When they are advertised, it's usually in the newspapers of the regions concerned.

Your company's shares are part of your personal bankruptcy. The trustee assesses them to determine if they have realizable value, which is quite rare.
Whether or not the company continues to operate depends on several factors, primarily your intention to do so.
A legal hypothec can have various effects in bankruptcy proceedings, depending on its nature.
These are issues that require careful analysis.

I believe your case is more suited to a consumer proposal than bankruptcy.
Meet with a trustee to have your situation reviewed.

Of course.

Your situation doesn't appear to reveal any wrongdoing. I believe you would benefit from consulting a trustee to start fresh.

In my opinion, no. The Ministry of Revenue is bound by total confidentiality regarding taxpayer files.

In a situation like yours, assuming you know your income, you should consider bankruptcy. Any other solution will only delay this seemingly inevitable outcome. A meeting with a trustee will allow you to make the appropriate decision.

For a first bankruptcy without surplus income, 9 months; with surplus income, 21 months.

I wouldn't believe it, especially not for the government.

You can certainly find out about their hiring criteria.

If the trustee is unable to sell and ultimately relinquishes the property to the mortgage lender, I don't believe they can be charged the monthly fees.

Your conclusion seems appropriate. Since this is a legal matter, you should consult a lawyer.

If it's a company, the directors are liable. The company's bankruptcy does not release them from this liability.

If it's a business registered in your own name, your bankruptcy will release you from the debts in question.

Yes. Your inheritance will be part of your bankruptcy assets, unless it includes clauses protecting it from seizure in your favor.

If you have been discharged from bankruptcy, your debts are extinguished. Therefore, the income from your RRSP withdrawals belongs to you.

It's difficult to provide an adequate answer without knowing your specific situation.

If the debt stems from a false declaration, such as fraudulently obtaining social assistance, it cannot be discharged through bankruptcy.
The only solution would be to reach an agreement with the creditor.

This is a difficult question to answer precisely, as many factors come into play.

Visit the section of our website that deals with restoring your credit score.

You will find a lot of information on this topic there.

The trustee does not take them into account but does take them into consideration when calculating your income.

Yes, if your budget allows. We can also consider reducing your payments until you return to work.

Since you already have a trustee, you should contact them, as they have all the information to answer your questions.

To calculate your monthly commitment, you can consult this address: http://www.bankruptcycanada.com/Evaluateur-de-faillite-personnelle.php

If these are debts for periods prior to your personal bankruptcy, the answer is yes.

You can obtain tax numbers even if you are personally bankrupt.

If you go bankrupt, you will not have to pay the rent owed but will have to pay future rent.

These conditions are standard. If you cannot meet them, contact other property managers, but first determine the monthly amount you would be able to pay.

If the amount you paid represents the value of the goods she transferred to you, then no.
How she subsequently uses that money is not your responsibility.

The trustee will assess the transactions that took place between you to ensure that they were not made to the detriment of your spouse's creditors.

Bankruptcy doesn't prevent you from finding a place to live, but you might be wise to sign a lease before declaring bankruptcy.

You'll also have access to loans and grants, just like anyone else.

You can make a consumer proposal and keep your condo. Your proposal must take into account the potential value of your undivided share of the condo.
Since you have at least one joint debt on the condo, it would be best to discuss your options with your spouse once you have obtained all the necessary information from a trustee.

According to my information, it is R9 during, then R7 for the 3 years after the execution of your proposal.

Yes.

For a job search, it shouldn't be an issue unless it's in the financial sector.

Renewing your mortgage is rarely a problem, provided you've always made your home loan payments on time. Ideally, of course, the renewal should expire after the offer ends.

A bankrupt person cannot act as a director of a company.

You should check with your credit card issuer to see if you are also responsible for the account.

This significant donation will be taken into account when preparing your consumer proposal.
If the trustee determines that this is a transaction that could be challenged in favor of your creditors, you will likely have to offer your creditors more in your proposal to partially compensate them.

I don't have a company to recommend, but if I have one piece of advice, it's to be very careful and fully understand the true cost of the loan you're considering.

You could get a standard loan with a creditworthy guarantor, which would be much better. Of course, finding a guarantor isn't easy.

The date of your move in relation to your bankruptcy is irrelevant, according to the facts you submit.

Legally, nothing prevents a bankrupt individual who has not yet been discharged from obtaining credit, but they must disclose their undischarged bankrupt status to the lender.

Inform your trustee beforehand, who will advise you on how to proceed to avoid any problems.

Your building manager is correct regarding the car payments.
The new child will be counted from their birth date. Try to reach an agreement with your building manager; that's the best solution.

No, that's not true. Unpaid rent is a debt that is part of bankruptcy.

Since your surplus income is calculated taking into account the income of those living with you, you are correct in thinking that the amount payable during your bankruptcy proceedings will change. During your meeting with a trustee, they will be able to provide you with precise figures.

As soon as you are discharged from bankruptcy. However, this does not mean you will obtain one immediately.

Consider the cards offered by some companies, subject to a security deposit. Use credit with caution.

A bankruptcy doesn't last 7 years. You're confusing the duration of the information in your credit report with that of a first bankruptcy, which lasts between 9 and 21 months. Nothing prevents you from buying a house as long as you obtain the necessary financing, which is obviously more difficult after a bankruptcy.
I don't see any obstacle to continuing your work as a real estate agent. To be certain, check with your professional order.

The boat doesn't appear to have excess value. If that's the case, you can continue the mortgage payments even after your spouse's bankruptcy. Regarding the house, you'll need to reach an agreement with the trustee for the buyout of your spouse's share. Your status as a co-owner puts you in a favorable position to do so.
You can ask these questions at your first meeting with the trustee.

Yes. Bankruptcy is a public process.

Yes, all your debts must be declared and are included in your bankruptcy.

You should file your tax returns first. You might not owe anything.
If not, bankruptcy would be appropriate.

Your trustee must take into account your family income, whether married or not: what matters are the people living under the same roof.

If you continue making payments on the car loan, you can keep it.

Speak to your building manager. Normally, for a vehicle of this value, it shouldn't be a problem.

If you stopped being a student less than 7 years ago, neither bankruptcy nor a proposal will release you from this debt.
Registered Education Savings Plans (RESPs) are subject to seizure in the event of bankruptcy.
The proposal could include an offer on the second mortgage, but since the first-lien creditor is the same, the chances of success are slim.

No, except that your husband will have to declare his new situation to the trustee and his family income, including yours, for the determination of his personal commitment, for which you are in no way responsible.

Contact the credit agencies by fax or internet to have your file corrected.

Honoring a loan can only be positive for you.

Requesting an additional card when considering bankruptcy is not appropriate.

That's highly unlikely.

Nevertheless, you should consider a solution like bankruptcy to end your debt situation.

You are describing assets that are either necessary furnishings or assets without significant realizable value. These assets are usually left to the debtor who goes bankrupt.

You can do it yourself, but there needs to be some sharing of credits and other expenses between the pre- and post-bankruptcy periods. In my opinion, your trustee or accountant is the best person to do it, usually for a reasonable fee.

A trustee is licensed under the Bankruptcy and Insolvency Act.
You can obtain this information by contacting the office of the Superintendent of Bankruptcy nearest to you (in Quebec City, 418-648-4280).

In my opinion, it will be lower and well suited to your budget.