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Why Delaying Your Bankruptcy Can Cost You More

Why Delaying Your Bankruptcy Can Cost You More

Many Canadians are struggling with debt and lot of these people are facing sleepless nights and stress at home. Most know that they need to do something about their debt problem. Unfortunately, many of these people delay seeking bankruptcy help or information on filing a consumer proposal. People delay their bankruptcy (or proposal) because they are nervous about speaking with a Trustee.

Can i Move During Bankruptcy

Debtors can move during an active bankruptcy case. Being able to attend any mandatory court dates is important if the debtor wants to move while his case is ongoing. The debtor’s attorney and the bankruptcy court should be notified of the new address so the debtor can continue to receive updates regarding his case.

Can i Move After Filing Bankruptcy

Even if an eviction hasn’t been filed, you may know that you need or want to end your lease. Doing so during a Chapter 7 case usually gives you more time to move. The landlord can’t start an eviction case without first getting special permission from the bankruptcy court.

Spend Down Before Bankruptcy

Four Good Reasons For Spending Down Cash Before Filing Bankruptcy
The debtor intentionally tried to hinder, delay or defraud a creditor or the bankruptcy system and keep them from accessing their assets during bankruptcy.
The debtor has transferred, removed, destroyed or attempted to conceal assets with one year prior to filing bankruptcy.

What Can i Spend my Tax Return on Before Filing Bankruptcy

Filing taxes before bankruptcy
There are many pitfalls that may be preventable with the right legal advice prior to filing. Many times, the simplest solution is to just hang onto your tax refund until after you file your bankruptcy case. If you are thinking of filing bankruptcy, before you do anything with your tax refund, consult an attorney.

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