Hi dear sir, i will be on Ontario odsp. And owe 89,000$ cridet card financial obligation. My very very first real question is that i acquired a call from collection and I also told them i will be on odsp. Would the collection agency inform odsp for my debts and wouldn’t it impact my odsp. 2nd concern, it affect my odsp if I file bankruptcy, still would. I am talking about if the odsp learn, will they stop my re re re payments. We am extremely frightened and We actually don’t know very well what to complete and has now made my wellness worst. We have various kinds of anxiety. Plz payday loans in Vermont advice me what you should do.
Hi Khpelwak. As a result of privacy guidelines, ODSP is only going to communicate with you regarding the file, maybe perhaps perhaps not someone else, so even in the event the collection agency did phone them, they wouldn’t speak to them. Owing cash doesn’t influence your ODSP, since eligibility for ODSP is dependant on your earnings and medical problem.
Filing bankruptcy doesn’t directly influence your ODSP, because again it really is centered on your revenue, perhaps perhaps perhaps maybe not the money you owe.
You can register bankruptcy, but there is however an expense to bankruptcy that is filing usually when you look at the variety of $200 every month for 9 months. Bankruptcy is a solution to stop your wages from being garnisheed, but because you do not have wages, and because ODSP cannot garnishee your wages, a bankruptcy may possibly not be necessary available for you. An Ontario bankruptcy trustee can explain your choices in increased detail.
Hi i simply got divided. My partner left me personally with like 70 thousand dollars of financial obligation.25 thousand in charge cards.20 thousand on a bank that is personal and 25 thousand buck line of credit. I will be on EI nonetheless it will soon run out very and I also need no earnings. It’s a really stressful thing. Am I able to declare bankrupcy if I don’t have a working work at this time. Many Many Many Many Thanks
Hi Troy. Yes, you can easily file for bankruptcy also in the event that you don’t have work. But, since one of many purposes of bankruptcy is always to protect you against getting your wages garnisheed, you might find it really is in your absolute best passions to wait patiently unless you work to make sure you have one thing to guard. an authorized insolvency trustee provides you with additional information.
We have always been in $33000 financial obligation with charge cards and personal credit line. It provides osap loan of $11315. I will be making use of repayment help for osap and currently don’t spend any plain thing because We have no wages. We have no working task but ended up being maintaining all my re re re re payments for just two years. But we can’t manage to spend them any longer. I’ve no house, no automobile, no assests or any thing. No wages are had by me also. I’m thinking about using assistance that is social. Please let me know my choices. I will be in extremely health that is bad and consider working just isn’t an alternative. Please advise. If We don’t make any re payments, will anything bad take place ? Shall we inform all my creditors that i’m perhaps not in a position to spend any longer payments that are monthly ? Shall we let them know or maybe not ? Shall we register bankrupcy ? We can’t manage to purchase bank rupcy also. I’ve 0 cash on me personally. Please give an answer that is thoughtful. Best Wishes.
Hi Dave. For those who have no assets to seize, with no wages to garnishee, you can stop making repayments while the creditors will be struggling to garnishee your wages or seize assets. Therefore, for you personally, starting a fresh banking account at a unique bank and doing absolutely nothing are a viable option. You can merely inform creditors that no income is had by you. They might phone that you few times, but after they understand there’s nothing to get chances are that they’ll curtail their collection task.
when I have discovered out of the bad who’ll never ever work once once again do not have opportunity to get bankrupt. i dropped in the office last year and today must go on ODSP , but income canada nevertheless takes every cent it could kinda causes my entire life on impairment hard.bad system..told i’d have to spend $240 four weeks for 9 months , but after lease ,hydro i dont have that much letf..
Hi Garth. I will suggest you contact a amount of trustees in your town and discover when there is a trustee who are able to do your bankruptcy for under $240 per or who may have other options for you to consider month.
We inhabit Quebec, am a student that is full-time solitary mom of a 3 yrs old, residing in subsidized housing, without any assets and my revenue stream is student loans. I have already been carrying crippling debts for fifteen years. Recently, a family group users that we co-signed for left me by having a near $3000 cellular phone bill. My debts amounts to over $20k. May I carry on gonna college and student that is receiving if we go bankrupt? Any kind of reduced charges for low income people when it comes to bankruptcy? All of the debts are now actually in collections, many of them I did son’t understand they existed until recently. I must say I wish to accomplish a bankruptcy (so that i will reconstruct my credit forever), but i’m concern on the affordability while i’m students.
You can get bankrupt and continue in school, and carry on getting figuratively speaking. More often than not the education loan loan provider will require a page through the trustee acknowledging that the brand new student education loans won’t be area of the bankruptcy. As for the price of a bankruptcy, and whether or perhaps not it’s the proper choice you should consult a licensed insolvency trustee to review your options for you.
Hello, we am about $50000 with debt due to infection we suffered into the past Currently we am employed full time as a residential property supervisor plus in lieu of pay, we get a unit hire free combined with the utilities taken care of and television, phone and internet taken care of. I actually do perhaps perhaps not receive a paycheck. I actually do receive money sometimes individually if I actually do one thing outside my task description such as for example painting a product, but that’s a spratic thing. My child fundamentally provides us with your food and transport when I don’t very very own an automobile along with our medicines. At most useful I may get $500 per extra for painting month. Can I get bankrupt in this case? I must say I am maybe not enthusiastic about customer proposition. Your thinking and I’m placed on this will be significantly appreciated. Thank you…
Hi Richard. Yes, it is possible to get bankrupt in your position. For purposes associated with the income that is surplus your rent will be considered part of your revenue, but we suspect it can perhaps maybe not make much huge difference, and so the bankruptcy will be fairly low priced for you personally. I recommend you contact an authorized insolvency trustee for the totally free initial assessment to examine your alternatives.
We owe roughly 16k to my td visa with no assets or work. I happened to be thinking about returning to college while being for a learning education loan. Fundamentally, I’m maybe maybe not thinking about employed by minimum the following 3 years in order that i could give attention to school. I do want to understand what are my probability of getting sued by td visa?
Hi Regis. When you yourself have no earnings, and TD understands you have got no income, the chances of those suing you might be suprisingly low. Also if they do sue you, you’ve got no earnings to garnishee. Therefore, you might return to college, and just cope with TD you, or when you graduate if necessary if they sue.