I have no money to declare bankruptcy

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edwardt

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I have no money to declare bankruptcy
« on: March 30, 2015, 03:51:16 PM »
What would you do in my situation.  I'm in my 20's and worked for 6 year straight, got injured, WSIB also went through some changes at this time to deny 50% of claims automatically and long story short I defaulted on my credit cards and had to move from my apartment.

I called a trustee last year who said my case is simple and it will cost me about $150/m for a year or so. I'm estimating as this was last year.   I thought by this time I would be better and employment would be better but actually I'm worse off. I'm injured and job hunting is completely useless but I have about $25,000 in defaulted credit and $0 assets or income and those supporting me live on assistance.

How do you declare bankruptcy when it costs money to declare bankruptcy and there is no money coming in the future ?  What is the work around ?  Should I just tell the creditors they can keep calling with no chance to get anything.

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NotATrust-E

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Re: I have no money to declare bankruptcy
« Reply #1 on: March 30, 2015, 04:06:40 PM »
Check out the Bankruptcy Assistance Program at ic.gc.ca/eic/site/bsf-osb.nsf/eng/br02048.html.

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edwardt

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Re: I have no money to declare bankruptcy
« Reply #2 on: March 30, 2015, 05:07:14 PM »
I will look at that but initial glance didn't say much. 

NOT A TRUSTEE. Can you recommend a good honest caring trustee in the Toronto area. Feel free to email me if you don't want to say it in public.

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NotATrust-E

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Re: I have no money to declare bankruptcy
« Reply #3 on: March 30, 2015, 06:00:03 PM »
Don't think that it's possible to email on the board, but I can give some general suggestions.

1) There are three general types of firm, in my opinion. Large national firms that pay for advertising on Google and on billboards, regional firms that have a number of offices in an area, and smaller firms. Some bigger firms might have a lot of clients and a lot of staff, so you may be less likely to get personal attention. On the other hand, there are small firms out there that are so overworked that they can't handle your request. If you see their advertisments everywhere, I think you have to ask if their money is going into advertising or if it's going into stuff that will help you through your situation.

2) The usual fee is $1,800 over 9 months, but it can be whatever the trustee wants to charge. There are various agreements you can sign - like an arrangement to keep paying after you get discharged, or to give them your GST credits, etcetera. You might have to keep searching before you find one that will give you these options.

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OntarioGal

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Re: I have no money to declare bankruptcy
« Reply #4 on: March 31, 2015, 07:24:53 AM »
I suggest contacting Spergel.  I processed my bankruptcy with the Spergel Mississauga location near Dixie and Dundas in the year 2013.  Chris, the trustee, was very supportive. I was discharged from bankruptcy in early 2014. There are several Spergel locations throughout Ontario.  I was able to pay my monthly fees, so, I don't know for sure if Spergel assists people who aren't able to.  But, I suggest talking with them and seeing what they say.  Good luck!  I hope things improve for you. 

 

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