How To Get Bankrupt If I’ve No Cash?

Hi, we get ODSP while having got directly into debt that is serious the last few years with several payday advances that we continue steadily to pay and 2 bank cards all to try and endure every month. I quickly got an individual loan to try and make things easier from it to repay my other loans but which was the worst thing i possibly could have inked due to the fact business finished up deciding where in actuality the cash would head to spend down my charge cards and such, and so I ended up being not able to spend one other loans with that money 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 will be really bankruptcy that is considering was wondering do I have actually to are accountable to ODSP if I had been to register. Many thanks

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

Hello, we have credit line and card of credit in standard for over 7 years. Total quantity around 40K. We never ever declared a bankruptcy. At very first i acquired telephone telephone calls from debt collectors, all of them stop after 2 years. Among the banking institutions sued me personally. We have no garnishable earnings and no assests to seize. Matter 1. If i dont file for bankruptcy after all will my debts ultimately be written down as time passes? Matter 2. If i file fo bankruptcy will the lawsuit disappear completely?

Many thanks ahead of time

Hi Vic. The debts never disappear completely. But, when you have no earnings which can be garnisheed, and when you’ve got no assets, then there’s no chance when it comes to charge card business to gather regarding the financial obligation, and so the proven fact that it will continue to occur can be moot.

If they currently sued you and have judgement, as noted above, there’s no much they could do along with it when you have no assets or earnings. Yes, if you file for bankruptcy the lawsuit together with judgement could 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 a claim out or pay 6 times more a month. I actually do n’t have any assets. Vehicle is certainly not mine but we insure it to operate a vehicle. I’m not able to work and also have perhaps maybe perhaps not in over twenty years and not is going to work once more. We have told the debtors that there’s simply no means of repaying also 1 cent when I just get $906 each month. When we spend rent and bills and insurance coverage (that I can’t get now), you’ll find nothing kept for meals. It has been happening for a long time with calls 5 or 6 times per week demanding cash. I can’t just simply just take them calling anymore. My real question is, will there be someplace to go to register bankruptcy and so they maybe perhaps perhaps not ask you for? My credit is shot time that is big therefore I don’t worry about bankruptcy wrecking it more. I simply need it all to disappear completely. I’m towards the point, i recently wish to perish.

Hi Patti. So they are not calling you if you have no wages, the simplest option may be to open a new bank account at a new bank, and get a new phone number. In the event that telephone calls would be the biggest problem, a fresh telephone number could be the easiest and fastest solution. Many people declare themselves bankrupt to avoid their wages from being garnisheed, but as you do not have wages that’s perhaps perhaps maybe not a presssing problem for you personally. You are able to contact a trustee and additionally they can give you advice in your choices, including various repayment choices.

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

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