Hi dear sir, i’m on Ontario odsp. And owe 89,000$ cridet card financial obligation. My very first real question is that i obtained 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 question, it affect my odsp if I file bankruptcy, still would. After all if the odsp learn, will they stop my re re payments. I am extremely frightened and We actually don’t know very well what to complete and has now made my wellness worst. We have various types of anxiety. Plz advice me what you should do.

Hi Khpelwak. Because of privacy guidelines, ODSP will simply speak to you regarding the file, maybe perhaps not someone else, so no matter if the collection agency did phone them, they’dn’t communicate with them. Owing cash does not influence your ODSP, since eligibility for ODSP is dependent on your earnings and medical problem.

Filing bankruptcy doesn’t directly impact your ODSP, because again it really is predicated on your earnings, perhaps not the money you owe.

You can register bankruptcy, but there is however a price to bankruptcy that is filing frequently when you look at the range of $200 every month for 9 months. Bankruptcy is ways to stop your wages from being garnisheed, but because you don’t have any wages, and because ODSP cannot garnishee your wages, a bankruptcy might not be necessary available for you. An Ontario bankruptcy trustee can explain your choices in increased detail.

Hi i simply got divided. My spouse left me personally with like 70 thousand bucks of financial obligation.25 thousand in charge cards.20 thousand on a bank that is personal and 25 thousand buck personal line of credit. I will be on EI nonetheless it will come to an end quickly and I also may have no earnings. It’s a tremendously stressful thing. Could I declare bankrupcy if I don’t have actually a working task appropriate now. Many Many Thanks

Hi Troy. Yes, it is possible to declare themselves bankrupt also in the event that you don’t have task. But, since one of the most significant purposes of bankruptcy is always to protect you against getting your wages garnisheed, you will probably find its in your very best passions to hold back that you have something to protect until you are working so. an authorized insolvency trustee provides you with an increase of information.

We have always been in $33000 financial obligation with charge cards and personal credit line. It offers loan that is osap of11315. I will be utilizing payment help for osap and currently don’t spend any plain thing because We have no wages. I’ve no task but had been keeping all my re payments for just two years. But we can’t manage to spend them any longer. We have no house, no automobile, no assests or any thing. No wages are had by me also. I will be thinking about using social support. Please let me know my choices. I will be in really bad health and consider working just isn’t a choice. Please advise. If We don’t make any re re payments, will anything bad take place ? Shall we inform all my creditors that I’m not in a position to spend any longer monthly premiums ? Shall we let them know or maybe perhaps perhaps maybe not ? Shall we register bankrupcy ? We can’t manage to buy bank rupcy also. We have 0 cash on me personally. Please give an answer that is thoughtful. Best Wishes.

Hi Dave. You could stop making payments and the creditors would be unable to garnishee your wages or seize assets if you have no assets to seize, and no wages to garnishee. Therefore, for your needs, starting a fresh banking account at a brand new bank and doing absolutely absolutely absolutely absolutely nothing could be an option that is viable. You can merely inform creditors that no income is had by you. They might call that you few times, but when they realize you’ll find nothing to get it’s likely that they’ll curtail their collection task.

when I have discovered out of the poor who can never ever work once again do not have possiblity to get bankrupt. i dropped at your workplace 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 would personally have to spend $240 four weeks for 9 months , but after lease ,hydro i dont have that much letf..

Hi Garth. I suggest you contact an amount of trustees in your town and view if you have a trustee who is able to do your bankruptcy for under $240 per thirty days, or and also require other choices for you yourself to start thinking about.

We are now living in Quebec, am a student that is full-time solitary mother of a 3 yrs old, residing in subsidized housing, without any assets and my revenue stream is figuratively speaking. I’ve been holding debts that are crippling 15 years. Recently, a family group users with a near $3000 cell phone bill that I co-signed for left me. My debts amounts to over $20k. May I carry on planning to college and getting education loan if we get bankrupt? What are the fees that are reduced low earnings people for the bankruptcy? All the debts are now actually in collections, a lot of them I did son’t understand they existed until recently. I truly wish to accomplish a bankruptcy (therefore while I am a student that I can rebuild my credit once and for all), but I am concern over the affordability.

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 latest student education loans will never be area of the bankruptcy. Are you aware that price of a bankruptcy, and whether or perhaps not it’s the proper choice for your needs, you need to consult an authorized insolvency trustee to examine your choices.

Hello, I am about $50000 with debt as a result of disease we suffered within the past Currently we am employed full time as a domestic home supervisor as well as in lieu of pay, we get a unit lease free together with the utilities taken care of and television, phone and internet covered. I really do perhaps maybe not get a paycheck. I actually do receive money sporadically individually if I actually do one thing outside my work description such as for instance 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 very own a car sufficient reason for our medicines. At the best I may get $500 per extra for painting month. Am I able to get bankrupt in this example? I truly have always been perhaps perhaps not enthusiastic about customer proposition. Your thinking and I’m placed on this could be significantly valued. many thanks…

Hi Richard. Yes, you’ll get bankrupt in your position. For purposes associated with the surplus income calculation your rent will be considered section of your revenue, but we suspect it could maybe perhaps not make much huge difference, https://title-max.com/payday-loans-de/ so that the bankruptcy will be fairly low priced for your needs. I recommend you contact an authorized insolvency trustee for a totally free initial assessment to review your choices.

I owe roughly 16k on my td visa with no assets or work. I became thinking about returning to college while being for education loan. Essentially, I’m maybe maybe not thinking about employed by minimum the second 3 years in order for i will consider school. I wish to know very well what are my likelihood of getting sued by td visa?

Hi Regis. When you have no earnings, and TD knows you’ve got no earnings, the chances of these suing you may be suprisingly low. Also when they do sue you, you have got no earnings to garnishee. Therefore, you can get back to college, and just cope with TD you, or when you graduate if necessary if they sue.

Hi my better half and I also are filling for the proposition since we can’t manage our debts. I’ve been away from work with 12 months and half and am in long term dissability which can be non taxable while doing my income taxes so I do not claim it. My real question is do i must offer that quantity for the surplus calculation?