Self Employed Bankruptcy

  • 1 Replies
  • 3361 Views
*

pwnstrz

  • Guest
Self Employed Bankruptcy
« on: January 22, 2014, 07:18:21 PM »
i am self employed and  i am considering going bankrupt.....i owe taxes and much more...if i choose to do so  will i have to shut down my business.....i also own a newer vehicle will that also have to be returned?

*

NotATrust-E

  • Sr. Member
  • ****
  • 263
  • +1/-0
    • View Profile
Re: Self Employed Bankruptcy
« Reply #1 on: January 24, 2014, 03:43:40 PM »
1) Will you have to shut down your business? You cannot be the director of a company incorporated under the Canada Business Corporations Act as a bankrupt, but your business is probably registered provincially. Otherwise, there's nothing stopping you from continuing to run your business.

2) Do you own the vehicle outright? If so, you may have to pay the trustee to keep it. It depends on how much equity you have.


i am self employed and  i am considering going bankrupt.....i owe taxes and much more...if i choose to do so  will i have to shut down my business.....i also own a newer vehicle will that also have to be returned?


 

Sitemap 1 2 3 4 5