personal bankruptcy

By: Bankruptcy Montreal  09-12-2011
Keywords: bankruptcy, debts

Answer: Yes, you can declare bankruptcy. The real question is whether or not bankruptcy is the correct solution for you. If you are earning $20,000 per year and have $35,000 in debts, it is unlikely that you will be able to repay your debts on your own, so bankruptcy may be the correct option for you.

The information in this article was current at 06 Dec 2011

Keywords: bankruptcy, debts

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If I take another job with less pay I certainly cannot pay these taxes…monthly…I am willing to pay but what worries me is what happens to next years taxes I owe…if I get a regular job and own my own business how can I catch up on these taxes. Your second option, as you mentioned, would be to get a “regular job” where taxes are deducted from your pay each month, so that at the end of the year you don’t owe any taxes.


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If I was to file for consumer protection what would that do to a house that is co-signed as well as a car?. Would we have to give up our dwelling or return the car I use for my work?Thank you. Your co-signer is still liable for the debts. If you stop paying, they are liable.


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While there may be differences in individual cases, as a general rule you will lose your tax refund for the year of the bankruptcy, so you should assume you will not receive your tax refund for 2009. Your bankruptcy trustee can provide you with specific information on your case.


09-12-2011

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1- if he does a bankruptcy will the buisness debts be eliminated even if he doesnt file the past 4 years of taxes. 3- if he declares bankruptcy will we ever be able to buy a house in the future.


09-12-2011

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Given that you know how difficult it is to keep a job during a recession, a big concern would be whether or not you will have un-interrupted income for the next eight years so you can make all of the payments. It would appear that it would be very expensive for you to make the payments on the consolidation loan for the next eight years.