Income Tax Refunds, GST/HST after Bankruptcy Discharge
Question: What Happens with my income tax return or GST or HST Payments? I was lead to believe that I would receive these after my Ontario bankruptcy is discharged, is this true? Who receives your tax...
View ArticleWhat Happens To An Inheritance and Windfalls In Bankruptcy
Any assets that you become eligible to receive while you are an undischarged bankrupt are subject to seizure while you are bankrupt. This includes any windfall you might receive while bankrupt...
View ArticleWhat Happens To My Car If I File For Bankruptcy?
Unless you live in a city with access to public transit, a car or truck may be essential for you to get to work. So what happens to your car if you go bankrupt in Ontario? Exemption Limits For Your Car...
View ArticleWhat Happens To My House In A Bankruptcy?
If you own a house when you file for bankruptcy in Ontario, your bankruptcy trustee will help you evaluate your situation to see if you can, and should, keep your home in a bankruptcy. They will talk...
View ArticleWhat Happens To My RRSP In A Bankruptcy in Ontario?
Your Registered Retirement Savings Plans (RRSPs) and Registered Retirement Income Funds (RRIFs) are yours to keep in a bankruptcy, with the exception of contributions you have made during the last 12...
View ArticleCan I Redeem An RRSP Before Going Bankrupt in Ontario?
When you file for bankruptcy in Ontario, you are required to disclose to your bankruptcy trustee all assets you have disposed of or redeemed in the previous twelve months (or up to five years in...
View ArticleWhat Happens if You Receive a Gift During Bankruptcy?
You are in the middle of your bankruptcy and the unexpected happens. You receive a large gift. You don’t remember the trustee telling you about this and you are afraid to call the trustee. What will...
View ArticleOntario Bankruptcy Exemptions: Tools Of The Trade
Bankruptcy can be the beginning of a fresh start and an opportunity to rebuild. If you are in a trade or profession that requires you to provide your own tools or equipment you may wonder how these...
View ArticleCan I Sell My Stuff Before Filing Bankruptcy?
When you file a bankruptcy many things that you normally would not think twice about, become important subjects. One of the things that your trustee is required to do when you file a bankruptcy, is to...
View ArticleCan I Sell My Home During A Personal Bankruptcy?
When deciding whether to keep your house when you file for bankruptcy, you need to consider several factors. Ask yourself these questions and make sure to answer honestly: Do I want to keep it? Can I...
View Article
