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Declaring Bankruptcy in Canada
Are you struggling with debt? Are you considering filing bankruptcy to deal with your creditors? Do you feel overwhelmed with your options and are unsure whether declaring bankruptcy is right for you?
Are you worried about how bankruptcy works or if there is a viable alternative to filing bankruptcy available? You are not alone. In fact, over 100,000 Canadians use the services of a Trustee to get out of debt by filing bankruptcy or making a consumer proposal. A consumer proposal is the most popular alternative to personal bankruptcy in Canada.
Bankruptcy Canada can help. We can help you understand what bankruptcy is, how it will impact your personal situation, when it makes sense to avoid bankruptcy with a consumer proposal, and how the Canadian bankruptcy laws can help you get out of debt.
Learn About Bankruptcy and Then Contact a Trustee
What is Bankruptcy in Canada?
What do I Have to do While Bankrupt?
How Long Will My Bankruptcy Last?
Does Filing Bankruptcy Affect my Spouse?
Who Will Know that I’ve Gone Bankrupt?
What is Surplus Income?
Learning about bankruptcy on this site is a good start, but it is important that you speak with a licensed Canadian bankruptcy expert. How bankruptcy works will depend on your situation such as your assets and income and whether you are married with a family or not. A Licensed Insolvency Trustee is the only debt relief professional who can provide bankruptcy services in Canada.
In order to get all the bankruptcy information you need, the team of Trustees of Bankruptcy Canada offers a free, no obligation consultation so you can discuss your situation with a debt professional who can help you determine if bankruptcy is right for you.
Personal bankruptcy is a legal process that individuals undertake when they can’t fulfill their debt obligations. While it can provide immediate relief, it often comes with long-term consequences. Therefore, it is crucial to consider the 6 Strategies to Help Avoid Personal Bankruptcy. Understanding Financial Literacy The first of the 6 Strategies to Help Avoid Personal … Read more
The process of declaring bankruptcy is an emotional journey, especially for small business owners. In light of the discontinuation of pandemic aid for businesses from the Canadian government, many businesses are battling to regain their footing, and bankruptcy cases are on the rise. If you’re considering bankruptcy as a Canadian small business owner, it’s crucial … Read more
Declaring bankruptcy can be a daunting process, fraught with uncertainty and confusion. Here are some Frequently Asked Questions About Bankruptcy in Ontario to help you navigate this financial landscape. 1. Understanding Bankruptcy 1.1 What does filing for bankruptcy mean? Declaring bankruptcy is a legal procedure overseen by a Licensed Insolvency Trustee (LIT). It involves a … Read more
The Role of a Licensed Insolvency Trustee in Bankruptcy and Consumer Proposals A Licensed Insolvency Trustee (LIT), sanctioned by the Canadian federal government, is the sole professional with the authority to file consumer bankruptcies and proposals. This profession, known as Bankruptcy Trustees in Canada before 2016, was renamed to reflect the expanded range of procedures … Read more
