2010-01-05
Hello, 1) If you file for bankruptcy, the Trustee will take on a one-half interest in the home given that you had a one-half share previously. If there is equity in the home, you may be able to buy back this equity in a monthly payment. If the equity is substantial, the house could potentially be sold by the Trustee, however, this can be complicated given a limited one-half interest. If there is no equity and you have a mortgage on the property, you would just continue making the monthly mortgage payments as bankruptcy does not interfere with a secured creditor. As you can see, there are a number of variables to consider. 2) Income tax debt is discharged or forgiven in bankruptcy. Brad Milne, CIRP Trustee in Bankruptcy Brandon, Manitoba
2025-06-19
With the school year beginning and thousands of Canadian students beginning a new semester of post-secondary studies, all those hard-earned dollars from summer gigs are now being applied to tuition, books, transportation, housing, and supplies.
2025-06-18
The cost of daily goods has been rising over the past few years — increasing the price of food, gas, clothing, and many other essential items that Canadians need in their day-to-day lives.
2025-06-16
Bankruptcy Alternatives to Bankruptcy
Let’s review what a Consumer Proposal is, as well as the pros and cons of filing a Proposal, to help you determine if it’s the right solution for your unique situation.
