you are very professional and your channel and tips very beneficial.
@K4Financial Жыл бұрын
Thank you. We try our best to be helpful
@barbaramoore50702 ай бұрын
Thank you for that information
@iliumboy Жыл бұрын
You need to mention that the CRA is a special creditor. They can pretty much do anything. Freeze your bank accounts, take your pension, take you RRSP, take your tax refund, etc. Any other creditor would have to sue you and win a judgement against you. Then they would have to win another judgement to enforce it. Even though you can include your tax debt as part of your bankruptcy, CRA has the power to mess it up.
@somethingsomething4048 ай бұрын
CERB debt is dischargeable though right? I read it is
@iliumboy8 ай бұрын
@@somethingsomething404 It is dischargeable if CRA decides it is. If the CRA decides your CERB was fraudulent (or for some other reason), then it isn't dischargeable. They thing to remember is that the CRA can do what other creditors cannot. If you decide to go bankrupt, try to not owe CRA anything.
@RealChange-eh1gw Жыл бұрын
Many Thanks for this step-by-step guide. Very well done Video.
@K4Financial Жыл бұрын
Thanks 😊
@TopdisbongАй бұрын
ty
@Robsunrealtravels4 ай бұрын
what if you transfer money into an rsp and a week later file for bankrupcy? still protected?
@Robsunrealtravels4 ай бұрын
also what if you buy a car for under 5k . then file? also what if you have nfts? do you have to claim nfts?
@harveyoulton7573 Жыл бұрын
late, but nice. exited last year. now have a question for an ombudsman, when they get back to me. thanks
@Talksin4036 ай бұрын
What if you have no income and your mortgage provider is trying to sell your place
@paulbrooks32328 ай бұрын
@K4Financial what is the total net income you can earn to remain in the 9 month Bankruptcy term now in 2024?
@aslamquadri4905 ай бұрын
Nice video, I was wondering if someone files bankruptcy and is just going to pay lets say 1800 to the trustee office i the span of 9 months, then who is actually paying to the lenders (like credit card companies)? Is it the government of Canada or is it the lenders waving off the loan amount?
@TheChellCountryV22 ай бұрын
Taxpayers end up paying it for the most part, because big banks get government handouts. But banks also have lots of people on billions of dollars of debt ranging from 6-30% so who knows. These banks are evil.. Im 60k in debt with line of credits and credit cards right now and i think im going to file bankruptcy. Obviously it was my fault and made horrible choices but fuck them for giving me this much credit. It was evil. I make really good money every year, like 160k+ but i developed a really bad online gambling problem. It was tough for me to even type this honestly.
@dorotapogubila4427 Жыл бұрын
Question: would you know if being retired on very small pension, can I stop paying off my credit cards without declaring bankruptcy?
@somethingsomething4048 ай бұрын
You could do a consumer proposal to stop the interest at least.
@AnitaOng-m9tАй бұрын
I have a loan from fairstone but secured and not secured loan 40k combine if i file for bankcruptcy can i include the secured loan ?
@K4FinancialАй бұрын
@@AnitaOng-m9t I would think so, but I would discuss this with a LIT in your area as they will know for sure and help you weigh your options
@somethingsomething4048 ай бұрын
Just to confirm, CERB debt is dischargeable right? I qualified but they’re saying I must have had expenses as a dog walker, poop bags don’t cost much lol. I made just over 10k, they’re saying I probably had expenses of 50+% so I made less than 5k
@somethingsomething4048 ай бұрын
Wow 1800$ seems pricy. all I have is credit card debt and cerb. Seems like I should be able to file on my own, no?
@gonzalohormazabal812010 ай бұрын
What is the name of the LIT you recomend in alberta???
@K4Financial10 ай бұрын
I don’t have one. It’s not something that is common for us, not that we don’t want to help, we just don’t get people in that situation, so I apologize, but I don’t know of one. That said. It is the only financial professional that can’t steer you wrong due to their limitations, so they should all be the same
@joseph-wg9ul9 ай бұрын
Bro do I need to file bankruptcy I am moving out of canada to USA?
@K4Financial9 ай бұрын
I’m not sure. Can’t hurt to talk to a licensed insolvency trustee
@joseph-wg9ul9 ай бұрын
@@K4Financialwe cant trust them because if I declare my belongings to them they will initiate to give to collections agency and if I ask them do I need to do it they will definitely say yes. Cause then only they will get money.
@FrankRussell-d5q Жыл бұрын
How many people declare bankruptcy because they fall afoul with Revenue Canada and are unable to resolve the issue?
@K4Financial Жыл бұрын
I have no idea. It’s not something that we have a lot of experience with, I just know more and more people are going to have to explore it as an option.
@toppaypositionacademy46589 ай бұрын
Those might be my reasons. They commited crime but can I survive the battle as they try to squirm out of guilt?