A Trustee in Bankruptcy is a person who is licensed by the federal government to administer bankruptcy and consumer proposals in Canada. They are regulated by a division of Industry Canada called the Office of the Superintendent of Bankruptcy (the OSB). The website of the Office of the Superintendent of Bankruptcy describes the primary duties …
Permanent link to this article: http://rumanek.com/blog/what-is-a-trustee-in-bankruptcy/
Kenny took a job as a self-employed courier driver. The income was great. He was able to make the payments on his new van, meet the household bills and share occasional extra expenses with his wife. He always intended to put aside money for the taxes and at the initial meeting with the new company they showed him how to …
Permanent link to this article: http://rumanek.com/blog/tax-return-problems/
The bankruptcy affects only the person who goes bankrupt. However, if the consumer debtor conveys or transfers property to his or her spouse for a value that is lower than its fair market value within one year prior to bankruptcy, then it is likely that the trustee, or the creditors in certain circumstances, will proceed …
Permanent link to this article: http://rumanek.com/blog/are-the-assets-of-the-consumer-debtors-spouse-affected/
Generally not. Recent changes in legislation provide that no creditor may seize furniture or household goods (up to a resale, or garage sale) value of $11,300, even if the furniture has been pledged as collateral for a loan. The exception is furniture that has been purchased on store credit (and not paid in full). This …
Permanent link to this article: http://rumanek.com/blog/do-i-lose-my-furniture-if-i-go-bankrupt/
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