Questions for Personal Bankruptcy in Nova Scotia (Canada) only.
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2014 archived questions and answers:
Hi, Four years ago we financed the sale of our house to a young couple, meaning we are the mortgagees. In the meantime the couple got into financial difficulties, got a second lien on the property, and now they want to declare bankruptcy in order to avoid foreclosure by the 2. lender. How does this affect our own loan? Do we have to renegotiate the mortgage? What are our risks? Thank you for your time.
I declared bankruptcy in 2011 and discharged in 2012. My student loan was at 5 years then so it survived the discharge. It has been 7 years now since August 31 2014. I am trying to find another option to relive myself of this as I cannot pay this $8839.00. The calls from revenue Canada have started and I have received a collection letter with a 10 day response timeframe. I do work but I am just getting by.
I declared personal bankruptcy in December 2008, I received my absolute discharge on September 20, 2009. When I am officially in the clear and have my credit rating back so I can apply for a line of credit through a financial institution? I hear six years others say seven?? Thanks for your time!
I do not want to loose my home. Over the last several years because of my physical health, I suffer financial hardship. Working at about half my normal take home. Aquired debt from the past, some with arranged payments/now revoked and now oweing more then the original debt for one loan and the rest just chip away. We live paycheck to paycheck and eveything falls behind as there is just not enough to go around. We have though about this for a couple of years but struggled by, but I think the time is long over due and day to day life is very stressful and depressing. I am hoping this is the right solution. But I do have a lot of questions, besides loosing my home, that I will not risk.
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