DO N'T talk to your creditors or
bankruptcy trustee directly after you have filed for bankruptcy.
Not exact matches
CryptosRUs recently reported on how the massive market correction experienced over the past 2 to 3 months has been
directly correlated with an enormous sell - off of BTC held by Mt. Gox
bankruptcy trustee Nobuaki Kobayashi, which he claimed was needed in order to raise funds to pay off company debts.
Once you file for
Bankruptcy, you automatically lose any tax refunds or HST refunds, which are forwarded
directly to your
Trustee.
If there are errors, contact the credit reporting agency
directly (since your
trustee does not report
directly to the credit bureau; all reporting is done by the Office of the Superintendent of
Bankruptcy).
If you are considering declaring
bankruptcy then you should start by discussing your options
directly with a
trustee.
Only licensed insolvency
trustees (the new designation for
bankruptcy trustees in Canada) may administer a consumer proposal, so before you sign any agreements to pay, make certain you are dealing
directly with a licensed
trustee and not a debt consultant that will pocket your money and refer you elsewhere.
In general, any tax refunds for any years prior to and including the year of
bankruptcy are assets of the
bankruptcy estate, and Canada Revenue Agency will send them
directly to your
trustee, even if you and your
trustee have been discharged.
Your tax refund is an asset of your
bankruptcy estate, so Canada Revenue Agency will send it
directly to your
trustee, so there will be nothing for you to include in your income.
If you are scared because you do owe money for back taxes you can contact the CRA
directly to discuss a repayment arrangement or talk to a
bankruptcy trustee.
If you owe $ 10,000 to three different credit card companies, you could contact them
directly (not through a credit counseling company or a
bankruptcy attorney or
bankruptcy trustee).
If Fred had gone
directly to a
trustee in
bankruptcy, he could have avoided up - front fees (all first consultations are free), and he would have received immediate legal protection through a stay of proceedings.
Any income tax refunds owing to you for any years up to the year you filed
bankruptcy will be sent
directly to the
trustee by Canada Revenue Agency.
It may seem tempting to declare
bankruptcy to avoid the long arm of the FRO; however, your support arrears merely become a claim that is made against your estate, with the FRO dealing
directly with the
bankruptcy trustee like any other creditor.