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I live in Ontario, Canada. I have a Canadian Tire credit card $7400, TD Canada Trust $5600, Sears Card $600, Leon's card $3400, Mortgage $1200 a month. Should I see a credit counselor and get the interest removed from the credit cards or is there another option? I don't want to go bankrupt and my wife is presently bringing in $400 a month and I am bringing in $1900 a month.
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My mother-in-law died recently and left debts of about $5,500. Her assets are only $3,500 after all her OAS/CPP comes in. She left no will and named no executor. She also left a life insurance policy for $10,000 to one of her sons. Can this policy be considered part of my mother-in-law's estate? Her son thinks he has to use it to pay off her remaining credit card bills once her assets are used up. I don't think he has to do that. What is your opinion?
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If a person files personal bankruptcy, and has shares in a corporation. If that person controls 100% of the shares in the corporation who would be responsible for the source deductions outstanding for the corporation, if at the same time the corporation was sold? Also in a case of personal bankruptcy, how many years of property taxes can be deducted from the proceeds of the bankruptcy? Example value of property sold is $210,000, a mortgage of $110,000 and back taxes of $55,000 (approx. 8 yrs of taxes).
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Here's the scenario.
You have $2000.00 to pay off credit cards.
You have the following credit card debt, assuming 20% interest on each one.
1) $1200.00
2) $900.00
3) $800.00
4) $1000.00
Would it be better to pay off a few of the cards entirely, or to make payments such that you can lower the balance of each to under $500.00? Which would look better to a potential lender, if you were to try and purchase a new car or home?
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I owed a phone bill from the year 2002. It just now went into collection. Should I pay them and does this debt now sit for another 6 years?
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I had purchased a bank draft from a bank in Canada about a month ago and mailed it to the recipient. Due to personal reasons the recipient has not deposited the bank draft and will be unable to do so for the next month. The problem is that now I'm having trouble with the bank which issued the bank draft. I have a loan with them which is overdue and they have been making noises about taking legal action. My question is can the bank cancel the draft and take the money without my permission?
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My husband and I are currently trying to build up our credit. We had a card that we recently paid off in full. We pay it online and don't use the paper statements. What we've been doing recently is going and buying a small item on that card, and when we get home the item is usually already posted on the website for the credit card with the option to pay it off. My question is if it is helping our credit to pay it all off immediately after charging item by item. In other words, paying it off in full several times a month rather than just one lump monthly payment. Should we wait until it is due or just pay it in full whenever we get something?
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My husband has many credit cards and loans. Some of these he has put my name on the application without my prior approval or knowledge. Am I responsible for any of his debit either a) while he's alive or b) should he die? One of his loans he even used items in our house as collateral, again without my prior knowledge or approval. What can I do to protect myself against his debt and/or creditors?
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My partner and I started a company that is doing okay, but as we
have hired some help and gotten busier, we have noticed that some clients
even though we give them an invoice, don't pay on time (4+ months later or
don't pay at all). The problem with this is I pay my staff every two weeks
and find that there is not much if anything left over.
What can I do about this?
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I am on Social assistance and only receive $310.00 per month for
living and room and board. There was an incident where I had a room mate
and we were evicted subsequently rent was due and damage was acquired. Now
rentalsman is looking at me to pay the total $1050.00 because they can not
reach the other party. This matter has now ended up at a credit collection
agency. They are demanding full payment. I am presently receiving care in
a hospital for my mental disability. Is there a way that I can have this
debt dissolved because I can not pay any of the amount on what I make a
month and my illness has prevented me from gaining employment. Please
advise.
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