Archive for September, 2006

Question: I’ve heard that in some cases Bankruptcy can give you a Criminal Record? Is it true?

Answer: No, filing an assignment in bankruptcy does not give you a criminal record.

Question: How long does a bankruptcy stay on your credit report after you are discharged?

Answer: According to Equifax canada, the bankruptcy is purged automatically six years form the date discharge in the case of a 1st time filing. If the consumer has declared bankruptcy more than once, the system will keep each bankruptcy for fourteen years from the date of discharge

Question: In procedure of bankruptcy, do we must go in Court and why?

Do we must to give the names people we know, have as friends…as witnees at Court?

Do our Agent must know about Bankroptcy?

What if during the procedure I find a job?

Do Cityzensheep has any role?
Because I have only Card Resident permanant.

I have NO REASON to be afraid of procedure and Bancruptcy, but I have a fear.

I read all, but I am not sure that I understood everything.

PLEASE, ANSWER.

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Thank You so much.

Answer: In most cases it is not necessary for you to go to court if you go bankrupt. For more information, please contact us.

I am self-employed – I have had no income for the past couple of months and no revenue projected for the next couple of months. I am unable to make my payments to creditors for this month. I am exploring alternatives to bankruptcy, the only asset I have is my home. As I do not have a steady income to rely on I am concerned that I may have to forfeit my home. I do have long term projected revenues but not until 2007. Please advise.

Can I sell my house after filing for personal bankruptcy in Quebec?

If you own a car and it is paid in full do you loose it in a personal bankruptcy? If this is the only thing you have of value?