tag:blogger.com,1999:blog-5759084360317550265.post7697181555586785526..comments2008-08-11T08:38:34.800-05:00Debt Relief Advisorhttp://www.blogger.com/profile/17191010979105860908noreply@blogger.comBlogger60125tag:blogger.com,1999:blog-5759084360317550265.post-9890842893928441582008-08-11T08:38:00.000-05:002008-08-11T08:38:00.000-05:00Anon - Your question refers to Chapter 7 which is an American process rather than the Canadian Bankruptcy process. If this is the case you should be contacting an American bankruptcy attorney.<BR/><BR/>If you are Canadian and wish to set up a free consultation you can call us at 1-888 PwC Debt (792-3328).Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-88085641675619841502008-08-11T08:33:00.000-05:002008-08-11T08:33:00.000-05:00Anon - If you cannot find the appraisal you should be contacting your trustee to advise them that you have been unable to locate the appraisal and will therefore not be in a position to bring it to the creditors meeting. If it was an appraisal obtained by a bank or mortgage company for refinancing you may be able to request a copy from the bank or mortgage company.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-81029446984269701732008-08-09T14:42:00.000-05:002008-08-09T14:42:00.000-05:00My husband owned a business and while the business was doing good we bought investment properties. He has now closed the business and we are going to file bankruptcy. We make more than the median and do not pass the means test for chapter 7 however most of our debt is nonconsumer debt it is business debt will we still qualify for chapter 7.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-64931765488645348022008-08-09T14:40:00.000-05:002008-08-09T14:40:00.000-05:00I got my case number and meeting with the creditors i was given a list of things to bring. However I can not find the apprasial to our refinance or never recieved it. What happens if I can not recieve this information.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-32565079795977529392008-07-23T08:32:00.000-05:002008-07-23T08:32:00.000-05:00anonymous - to "transfer" your debt to hers you would have to go to each of your creditors and have them agree to make such a transfer. It is unlikely that any creditor would agree if your girlfriend is already in collection and about to declare bankrupcty. If you have no assets you may also wish to explore the options available to you as the creditors on any joint debt will be looking to you for payment if your girlfriend does declare bankruptcy.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-5841788124826757752008-07-23T08:28:00.000-05:002008-07-23T08:28:00.000-05:00debt consolidation - For some people debt consolidation is the best option to deal with financial difficulties. <BR/><BR/>You can call us at 204-926-2471 to set up a free consultation to obtain information on debt consolidation or the other options available if you are facing financial difficulty.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-72369668483787831712008-07-23T08:25:00.000-05:002008-07-23T08:25:00.000-05:00stuck - At the time of your husband's bankruptcy his interest in the property "vested" in his bankruptcy estate. The Trustee registered a caveat to evidence that interest. I expect that at the time none of the other parties with an interest were prepared to make an offer to the trustee to purchase that interest. You can expect that the trustee will want the estate's share of the net sale proceeds. I am not aware of any expiry date on a caveat but you could confirm that with the lawyer handling the sale or land titles office to be sure.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-67941110944283261432008-07-18T21:09:00.000-05:002008-07-18T21:09:00.000-05:00My girlfriend and I are in collections. She is going to declare bankruptcy in the future, I have nothing in my name and no assets. Is there a way to transfer my debt over to hers and make it her debt or is it even legal? If this is legal to do I am considering doing this.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-75475534710422649022008-07-18T01:10:00.000-05:002008-07-18T01:10:00.000-05:00For the <A HREF="http://www.debtreduction123.net" REL="nofollow">unsecured debt consolidation loans</A>, you can make the loan application to any debt consolidation agencies. These agencies help you with their best services of experts of the field.Debt Consolidationhttp://www.blogger.com/profile/07322370981896577354noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-87723735205875552552008-07-14T01:07:00.000-05:002008-07-14T01:07:00.000-05:00My husband and I had filed for bankruptcy approximately 10 years ago; at the time we found out from our trustee that his name (along with his siblings)was on the title of a home. They said that a caveate would be placed. Now there is talk to sell the home; is there an "expiration date" on the caveate? and what are we to expect?stuckhttp://www.blogger.com/profile/13532451487211522914noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-91493244679025518862008-07-03T21:22:00.000-05:002008-07-03T21:22:00.000-05:00Anon - If you do proceed with the wedding you do not automatically become liable for your finace's debts once you are married. If you own assets such as your house you may wish to discuss with a lawyer the way in which title to the home is maintained.<BR/><BR/>There are provisions under the Bankruptcy and Insolvency Act dealing with what is referred to as surplus income and once married the Act contemplates reporting of total family income each month. The Trustee your fiance is speaking with will explain this to her. <BR/><BR/>Hope this helps.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-91660630444391678272008-07-02T06:32:00.000-05:002008-07-02T06:32:00.000-05:00My fiance is in the middle of filing for bankruptcy. We have plans to marry in the fall. My name is not on any of his debts. My credit is good, I own a home etc....Can we follow through with the wedding or is it better to hold off till after the bankruptcy is complete?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-45670176485691914872008-06-19T16:06:00.000-05:002008-06-19T16:06:00.000-05:00Anon: You do not become liable for your finace's debts just because you get married. You do not have an obligation to pay the debt, unless you have guaranteed it or are jointly liable. If your fiance has credit issues I do not think you will want to have him on either the title or the mortgage.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-16718883746008804822008-06-19T13:13:00.000-05:002008-06-19T13:13:00.000-05:00My fiance has about $2500 in collections (obviously not considering backruptcy). I am approved for a mortgage, but we will be married when I actually take the motrgage on the house I have bought. Will his debt impact my ability to get the mortgage (i.e. will I have to pay it out for him)? Does he have to be on the mortgage?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-16827486607769559312008-05-21T10:58:00.000-05:002008-05-21T10:58:00.000-05:00Anon - secured creditors, such as mortgage companies, are not affected by a bankruptcy as long as they have properly registered their security etc. Assuming that the mortgage company has done so then they are free to deal with the asset(s) pledged as security even if the borrower declares bankruptcy. There is nothing that requires a secured creditor to adjust interest rates, payment amounts etc. Sometimes lenders may be prepared to negotiate these things but there is nothing that requires them to do so. <BR/><BR/>You can call us at 204-926-2471 to set up a free consultation or, if you have already filed ,you should contact your trustee.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-21793678963124930042008-05-21T09:09:00.000-05:002008-05-21T09:09:00.000-05:00when in bankruptcy should home lenders lower your rateAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-15288495666099448632008-05-16T17:48:00.000-05:002008-05-16T17:48:00.000-05:00Anon - you can file for bankruptcy independently of your boyfriend as long as you meet the minimum requirements. If your boyfriend is joint on a debt then the creditor will look to him for payment.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-88693652113112299812008-05-16T10:00:00.000-05:002008-05-16T10:00:00.000-05:00My boyfriend left so i wanted to file bankrupcy and he is on the contract.Can i file bankrupcy without him being present.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-61119556329386999842008-04-18T10:05:00.000-05:002008-04-18T10:05:00.000-05:00Anon:You have a several options; including filing bankruptcy or filing a consumer proposal. We can sit down with you and review your financial information to determine which option may suit your situation. In the case of your student loan, that debt will not be discharged by a bankruptcy if you have been a student within the ten year period before a bankruptcy.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-39201958633244007692008-04-17T18:40:00.000-05:002008-04-17T18:40:00.000-05:00I am considering filing bankruptcy and am wondering if I should do so. I have Tax debt. and they are going to garnish my wage for 20 percent of my net. I also have an old student loan from 2002 that will probably come into play soon as well. They are saying that I owe them $7000.00 for taxes from 97-99. I have just started a new job in Nov. of 07, and am not making that much money atm. (13.75 /hr *40 hrs per week.) I cannot afford to have 20 % taken from me every week. Should I or shouldn't I?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-21047890308318194272008-04-07T17:48:00.000-05:002008-04-07T17:48:00.000-05:00Anon: if you choose to file for bankruptcy the trustee will ask and you will have a duty to disclose your complete financial position including assets, liabilities, dispositions, earnings and expenses etc. This information is generally gathered in a "workbook" which can be accessed on the mbbankruptcy.com page under the "personal bankruptcy" heading and then Application Form. That will give you an idea of the information which will be required.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-33463892428794107942008-04-07T17:26:00.000-05:002008-04-07T17:26:00.000-05:00WHAT TYPE OF QUESTION THE TRUSTEE ASK WHE YOU FILE BANKRUPCY?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-59773738887049734162008-04-04T12:36:00.000-05:002008-04-04T12:36:00.000-05:00Fireball - the 2008 Superintendent's Standard for a family of 4 is $3413. In the situation you describe that $3413 is subtracted from the family net income and the difference is referred to as "surplus income". At least 50% and no more than 70% of the surplus income is what is expected to be paid in to the Trustee. However, in your case if only you were to go bankrupt, the surplus income is apportioned between you and your wife depending upon the percentage which your income is of the total family income. As a result only a portion of the family surplus would have to be paid in to the Trustee.<BR/><BR/>You can call us at 204-926-2471 to set up a free consultation and to review the calculation of surplus income.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-5448569924303279662008-04-04T08:42:00.000-05:002008-04-04T08:42:00.000-05:00The surplus income allowance for a family of 4 is 3,330/month. As my wife currently makes this amount what happens to any income that i make?<BR/>I am currently unemployed and want to return to work but I have been advised that up upto 70% of any income I make will be clawed back.fireballhttp://www.blogger.com/profile/03710272933589391656noreply@blogger.comtag:blogger.com,1999:blog-5759084360317550265.post-37666779853835961012008-04-01T17:16:00.000-05:002008-04-01T17:16:00.000-05:00Anon: Your friend may have an allowable business investment loss if he lent money to your busines and the business goes bankrupt. Your friend should check with his accountant/tax advisor.<BR/><BR/>If you end up declaring personal bankruptcy, all of your creditors, including your friend, have to be included in the bankruptcy. You cannot pick and choose which creditors are included. If you file for bankruptcy all creditors are treated the same and, assuming that your friend is an unsecured creditor, you cannot make payments to him on his loan after you declare bankruptcy. He would receive his share of whatever monies are available for distribution in the bankruptcy.Dave Johnson, Trusteehttp://www.blogger.com/profile/09653204026244473697noreply@blogger.com