How To Get Bankrupt If no money is had by me?

Posted on February 9, 2021

How To Get Bankrupt If no money is had by me?

Hi, we get ODSP while having got directly into serious financial obligation over the last few years with numerous payday advances that we continue steadily to spend 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 settle my other loans but that has been the worst thing i possibly could have inked considering that the company finished up deciding in which the cash would head to spend down my charge cards and such, thus I ended up being struggling 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 actually considering bankruptcy and was wondering do I have actually to are accountable to ODSP if We had been to register. Many thanks

Hi Stephanie. No, you don’t report your bankruptcy to ODSP. Your earnings 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 amount around 40K. We never ever declared a bankruptcy. At very first i acquired phone telephone telephone calls from debt collectors, all of them stop after 2 years. One of several banking institutions sued me. I’ve no income that is garnishable no assests to seize. Matter 1. If i dont file for bankruptcy after all will my debts fundamentally 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, 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 you have no assets or income if they already sued you and have a judgement, as noted above, there’s no much they can do with it. Yes, if you file for bankruptcy the lawsuit while the judgement could be released into the bankruptcy.

Hi, i will be on PWD disability and possess over 30K in credit debt and today ICBC wants 10K to pay away a claim or pay 6 times more a thirty days. I actually do n’t have any assets. Vehicle is certainly not mine but we insure it to push. I will be struggling to work while having maybe perhaps not in over twenty years and do not will continue to work once more. We have told the debtors that there’s simply no method of repaying also 1 cent when I just get $906 each month. As soon as we spend 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 decades with telephone calls 5 or 6 times per week demanding cash. I am unable to simply simply take them calling anymore. My real question is, can there be someplace to head to register bankruptcy plus they maybe maybe not charge a fee? My credit has already been shot big style, thus I don’t worry about bankruptcy wrecking it more. I simply want to buy all to disappear. I’m towards the true point, i recently desire to perish.

Hi Patti. When you yourself have no wages, the most basic choice might be to start an innovative new banking account at a brand new bank, and obtain a fresh contact number so that they aren’t calling you. In the event that telephone calls would be the biggest problem, a fresh contact number could be the easiest and fastest solution. People file for bankruptcy to payday loan advances Kansas avoid their wages from being garnisheed, but as you do not have wages that’s maybe perhaps maybe perhaps not issue for you personally. It is possible to contact a trustee as well as can give you advice on your own choices, including various repayment choices.

I’ve a severe gambling addiction and now have gambled all my cash and owe $30,000 in credit debt. I’m on Canada retirement plan and age that is old including as much as $1190 30 days and I also benefit McDonald’s getting about $800 per month. 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 continue forever. I’ve read exactly about bankruptcy plus it seems like some creditors can refuse which scares me personally and I also don’t understand if i will manage banksupsy. Can they garnish my McDonald’s wages? Then how to manage to consume. I’d like to help keep my spot. My begins and homeloan payment soon add up to $1000 30 days. We need help and advice. I am hoping you can advise me personally just a little before We use. many thanks

Leave a Reply

You must be logged in to post a comment.

Find Me On

 Subscribe in a RSS reader

Enter your email address:

Delivered by FeedBurner