2009-07-30
Sorry, filing a bankruptcy now won't get the money back for you. I'm assuming that you have your bank account at the same bank who issued your Visa. If that's correct, you should move your bank account right away to a bank or financial institution that you don't owe any money to. If you have your bank account at the same bank you owe money to, they can at any time take all of the money out of your account and apply it against your debt. This is called a "right of set-off." If you have problems opening a bank account (this can happen if you have damage on your credit report), check out theCanadian Bankers Associationweb site. You do have some rights. As well, you should talk to a trustee to see whether a bankruptcy makes sense for you. Even if you don't do a bankruptcy, we can usually give you some advice about setting things up so that this kind of problem doesn't occur. Give me a call or email me if you'd like to talk. Judy Scott MNP - British Columbia 604-949-2113 [email protected]
2025-07-14
MNP Consumer Debt Index
Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.
2025-07-14
MNP Consumer Debt Index
Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.
