Can the Bankruptcy Assistance Program Help Me?

Navigating Financial Struggles: A Comprehensive Guide to the Bankruptcy Assistance Program

Struggling with overwhelming debt and considering filing for bankruptcy? This can be a daunting process, especially considering the financial strain that may come with it. However, there is a beacon of hope: The Bankruptcy Assistance Program (BAP). In this comprehensive guide, we will delve into the ins and outs of this program, its eligibility criteria, and how it can provide the needed aid for individuals in dire financial situations.

The Bankruptcy Assistance Program: An Overview

The Bankruptcy Assistance Program is a government-initiated program designed to assist individuals with low or no income who are contemplating filing for bankruptcy but are hindered by the associated costs. The Bankruptcy and Insolvency Act (BIA) paved the way for this initiative, establishing a lifeline for honorable Canadians buried under the burden of debt.

Keep in mind that while the fees to file are regulated by the government, bankruptcy proceedings can be costly. Trustee services, court fees, and document filing charges can pile up. This is where the BAP steps in, offering a support system for those unable to shoulder these costs.

The Office of the Superintendent of Bankruptcy (OSB) oversees the BAP, which pairs potential filers with Licensed Insolvency Trustees participating in the program. The majority of trustees are eager to represent clients with minimal resources, meaning the BAP is not as frequently utilized as you might think.

What Costs Does the Bankruptcy Assistance Program Cover?

An initial cost of under $300 is associated with the BAP, which includes filing fees and counseling session charges. Licensed insolvency trustees are often willing to decrease their rates and devise an affordable payment plan. The commission payments are generally dispersed over the nine months preceding discharge.

If, however, these reduced payments still render filing for bankruptcy unaffordable, the BAP can step in. They will assist you in hiring a trustee who participates in their program, potentially significantly reducing or even waiving your fees entirely.

Scheduling a Consultation

Worried about the cost of consultation? Don’t be. The first consultation is typically free. Contact a Licensed Insolvency Trustee to see how they can assist you in navigating your financial struggles.

Click here to schedule your free consultation.

Who Qualifies for the Bankruptcy Assistance Program?

Eligibility for the BAP is determined based on the following four prerequisites:


  • You must have reached out to at least two Licensed Insolvency Trustees and been denied service. Trustees participating in the program can be found by contacting the OSB.
  • You cannot be involved in a commercial activity. This means that your bankruptcy filing cannot include any business activities you are a part of. Commercial filings are costly, time-consuming, and are not covered by the BAP.
  • You cannot be incarcerated.
  • You should not have surplus income. This refers to the amount of money you earn while bankrupt that exceeds a predefined limit. You can ascertain whether or not you have surplus income by using a surplus income calculator available online, or by reaching out to a Licensed Insolvency Trustee.

Exploring the Next Steps

To gain more insight into bankruptcy and to find out if you qualify for the BAP, contact a Licensed Insolvency Trustee. Remember, the first consultation is free, and many trustees are willing to work with you even if your resources are limited.

A trustee will also assist you in understanding the various options available to you and determining the best course of action for your specific situation.

Debt relief is not reserved for the affluent. Bankruptcy Canada can provide bankruptcy help for low-income individuals through the BAP. Bankruptcy can offer the freedom from debt you’ve been longing for. Don’t let financial constraints deter you from seeking the advice of a trustee. The Bankruptcy Assistance Program was designed to assist individuals just like yourself. Take the first step towards financial freedom today.

Find Your Personal Debt Relief Solution

Licensed Insolvency Trustees are here to help. Get a free assessment of your options.

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