Can a debt collector try to collect on a debt that was discharged in bankruptcy?
No. If you have filed for bankruptcy, a debt collector cannot try to collect debts included in the bankruptcy. If a debt collector calls, tell the debt collector that you filed for bankruptcy and give them the name and phone number of your trustee. Your trustee will communicate directly with them. Even though debt collectors…
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Common Questions Regarding Bankruptcy
When you finally decide you can’t climb out of debt on your own and need to meet with a trustee, you will likely have a lot of bankruptcy questions to ask. For this reason, we have created a Frequently Asked Questions section on our website dedicated to bankruptcy questions, In our initial meetings, we usually…
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Debts Included in a Personal Bankruptcy
There are several kinds of debt that can be included in a personal bankruptcy. Recognizing the kind of debt that is included in a bankruptcy and comparing them to your own debts can be the first step towards obtaining your fresh start. Some of the most common debts are: Tax debt Owing money to the government…
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Why are credit counselling sessions mandatory after a bankruptcy?
After filing bankruptcy, you are expected to attend two mandatory credit counselling sessions, required under the Bankruptcy Insolvency Act, to aid in your financial rebuilding process. Credit counseling is there for good reason. Multiple bankruptcy filings are not uncommon in Canada — in fact, they’re becoming more and more frequent. While it’s impossible to educate a…
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When can I include my student loan in a bankruptcy?
As I’ve stated in previous blog posts, student loan debts will be eliminated with personal bankruptcy after you’ve ceased to be a student for a minimum of seven years. There has been some confusion with this in that past as people aren’t sure when the seven years is up. It has to do with when you…
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Personal Bankruptcy And Tax Returns
There are two tax returns required with personal bankruptcy. The trustee is required to file your income tax return for the tax year in which you file personal bankruptcy. The tax return relating to the year in which you file personal bankruptcy is not standard. In fact it is not one tax return, instead it…
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What are non-discretionary expenses listed under OTHER with a personal bankruptcy?
In my meetings with clients, I am often times asked “what are non-discretionary expenses listed under OTHER with a personal bankruptcy?”. The answer is, there is no list of ‘other non-discretionary expenses’ in the Bankruptcy and Insolvency Act (BIA). Let me first explain the process. When an individual files personal bankruptcy in Ontario, they are…
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Why does the trustee file pre-bankruptcy income tax?
Filing personal bankruptcy deals with all debts which were incurred prior to filing. The reason the trustee files a pre-bankruptcy income tax return is because it needs to include income tax debt which was incurred right up to the date of filing personal bankruptcy. The pre income tax return deals with the period from January…
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Guess what? We’re growing again…now helping Huron residents in Goderich and Exeter.
We’ve greatly appreciated that Huron county residents have come to London to see us, but we wanted to make your lives easier! Welker & Associates is pleased to be expanding into Exeter and Goderich to help more people: Welker & Associates Exeter 305 Main Street, S. (inside the Royal LePage office) Exeter, ON N0M 1S0…
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Will people know that I filed bankruptcy?
This is a common concern among clients who are considering bankruptcy. Many people are embarrassed that they have let their debt get out of hand and want to deal with it as quietly as possible. One of people’s greatest fears of bankruptcy is that their friends and family will find out and somehow think less…
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