How Do I Get Bankrupt If no money is had by me?

How Do I Get Bankrupt If no money is had by me?

Hi, we get ODSP while having got directly into debt that is serious the last year or two with numerous pay day loans that we continue steadily to spend and 2 bank cards all to try and endure every month. However got your own loan to try and make things easier by it to settle my other loans but which was the worst thing i really could have inked as the business finished up deciding where in fact the cash would head to pay my credit cards off and such, and so I ended up being not able to spend one other loans with this cash and wound up utilizing my month-to-month earnings once once again, and my own loan is dual payback for just what we owe. I’m actually considering bankruptcy and was wondering do I have actually to report to ODSP if We had been to register. Many thanks

Hi Stephanie. No, you don’t report your bankruptcy to ODSP. Your revenue from ODSP is reported by one to your trustee.

Hello, we have credit card and line of credit in standard for more than 7 years. Total quantity around 40K. We never ever declared a bankruptcy. To start with i got telephone calls from debt collectors, each of them stop after 2 years. Among the banking institutions sued me personally. I’ve no income that is garnishable no assests to seize. Matter 1. If i dont declare themselves bankrupt at all will my debts sooner or later be written down as time passes? Matter 2. If i file fo bankruptcy shall the lawsuit disappear completely?

Thank you ahead of time

Hi Vic. The debts never disappear. Nevertheless, then there is no way for the credit card company to collect on the debt, so the fact that it continues to exist may be moot if you have no income that can be garnisheed, and if you have no assets.

If they currently sued you and have judgement, as noted above, there’s no much they could do along with it for those who have no assets or earnings. Yes, if you declare themselves bankrupt the lawsuit as well as the judgement will be released when you look at the bankruptcy.

Hi, i will be on PWD impairment and now have over 30K in credit debt and from now on ICBC wants 10K to pay out a claim or pay 6 times more a thirty days. I really do n’t have any assets. Vehicle is certainly not mine but we insure it to operate a vehicle. I will be not able to work and now have perhaps perhaps perhaps not in over twenty years rather than will be able to work once again. We have told the debtors there is simply no means of repaying also 1 cent when I just get $906 each month. When we pay lease and bills and insurance coverage (that I can’t get now), you’ll find nothing kept for meals. It has been taking place for many years with telephone calls 5 or 6 times per week money that is demanding. I am unable to simply just simply take them calling anymore. My real question is, can there be someplace to head to file bankruptcy and additionally they perhaps maybe maybe maybe not charge a fee? My credit has already been shot time that is big thus I don’t value bankruptcy wrecking it more. I simply want to buy all to disappear. I’m towards the point, i recently wish to perish.

Hi Patti. When you have no wages, the best choice might be to open up a brand new bank-account at a brand new bank, and acquire a fresh contact number so they really aren’t calling you. In the event that calls will be the issue that is biggest, a fresh contact number could be the easiest and fastest solution. A lot of people file for bankruptcy to stop their wages from being garnisheed, but because you do not have wages that is perhaps not a presssing problem for you personally. It is possible to contact a trustee plus they i loved this can counsel you on the choices, including payment that is various.

We have a gambling that is serious and now have gambled all my cash and owe $30,000 in credit debt. I’m on Canada retirement plan and later years protection including as much as $1190 30 days and I also work with McDonald’s getting about $800 30 days. I’ve really considered committing committing committing suicide. We have quit gambling but can’t afford my payments therefore spending one bank card with another which can’t carry on forever. I’ve read exactly about bankruptcy plus it seems like some creditors can refuse which scares me personally and I also don’t determine if I’m able to pay for banksupsy. Can they garnish my McDonald’s wages? Then how do I manage to consume. I’d like to help keep my destination. My begins and homeloan payment soon add up to $1000 per month. We need help and advice. You are hoped by me can advise me personally only a little before We use. Many thanks