Leamington
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.
The Implications of Exhausting Credit Card Limits Before Declaring Bankruptcy Contemplating bankruptcy after exhausting your credit card limits can appear as an enticing solution for some. Yet, this action could potentially derail the smooth processing of your bankruptcy claim. Both your trustee and creditors are obligated to examine your spending behavior during the period leading … Read more
Navigating the Path of Bankruptcy as a Mortgage Broker or Agent in Ontario Is bankruptcy the end of your career in the mortgage industry in Ontario? No. In this article, we’ll discuss the impact of bankruptcy and consumer proposals on the licenses of mortgage brokers or agents. We’ll also provide some insights on how to … Read more
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Filing Bankruptcy or a Consumer Proposal on a Disability Income Living on a disability income due to long-term injury or illness can be financially challenging. The constant worry of debt piling up can be nerve-wracking and often leads to the question: Can I File for Bankruptcy or a Consumer Proposal if I am on a … Read more
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The Impact of Bankruptcy on Your Employment: Debunking Myths The term ‘bankruptcy’ often evokes fear and concern, particularly about its potential impact on job security. One common question that arises is: Can I get fired for filing bankruptcy? The answer is more nuanced than a simple yes or no. Let’s delve deeper. Introduction: Bankruptcy and … Read more
Can I Obtain a Student Loan During Bankruptcy? In certain unique situations, it’s feasible to procure a student loan while undergoing bankruptcy proceedings. This article provides an in-depth analysis of this proposition and presents a comprehensive guide to navigate through such scenarios. Understanding Bankruptcy Bankruptcy is a legal process where individuals or businesses unable … Read more
Getting Approved For a Car Loan Following a Bankruptcy Discharge: A Comprehensive Guide It’s a common misconception that filing for bankruptcy is a financial death knell. While it does carry significant ramifications, it isn’t a ‘financial life’ sentence. One query that frequently comes up is, “Can I get a car loan after bankruptcy?”. The short … Read more
Filing Bankruptcy & Joint Mortgage Debt Filing for bankruptcy is a complex decision, and it’s even more complicated when a joint mortgage is involved. This article aims to shed light on the various aspects of this topic, helping you navigate the complex world of bankruptcy and joint mortgages. 1. Understanding Bankruptcy Bankruptcy is a … Read more
Filing for Bankruptcy in Canada While Living Overseas: A Comprehensive Guide Living abroad can be an exciting adventure, but it does not necessarily erase the financial obligations one has back home. If you’re a Canadian resident who moved overseas and are wondering, “Can I file a bankruptcy in Canada if I live abroad?”, this article … Read more
Leaving Canada While Bankrupt: A Comprehensive Guide Bankruptcy is a complex legal process that can be daunting, especially if you are planning to leave the country. This guide provides an in-depth look at the implications and requirements of filing for bankruptcy and leaving Canada. Overview Bankruptcy in Canada is governed by the Bankruptcy and Insolvency … Read more
Filing for Bankruptcy When Unemployed: A Comprehensive Guide The question, “Can I file for bankruptcy if I am unemployed?” has become increasingly common, especially amidst the financial strain brought upon by the global pandemic. Many have found themselves jobless, relying solely on unemployment benefits for survival. In such instances, declaring bankruptcy can provide a much-needed … Read more
Being A Director of a Company Following Your Bankruptcy Discharge Bankruptcy can be an arduous process, filled with uncertainties, particularly when it comes to your future prospects. One query that often surfaces is: Can I Be A Director After My Bankruptcy Is Finished? This article aims to address this concern with comprehensive insights. Introduction Bankruptcy … Read more
Can I Claim Bankruptcy Without Affecting My Spouse? In the world of financial distress, one question often arises – Can I claim bankruptcy without my spouse? In this article, we’ll explore this query in depth, investigating the implications of personal bankruptcy on your spouse, the potential issues it might cause, and how to protect your … Read more
Claiming Bankruptcy: Is it Possible For Me? Understanding the process of bankruptcy and its implications can be overwhelming. This guide aims to provide a thorough insight into the question – Can I Claim Bankruptcy – and help you make an informed decision. 1. Introduction to Bankruptcy Bankruptcy is a legal procedure that allows individuals or … Read more
Declaring Bankruptcy More Than Once is Possible, But There Are Intricacies Life is full of unforeseen circumstances that might lead to financial instability. Sometimes, these situations might make you consider declaring bankruptcy, not once, but more than once. “Can I Declare Bankruptcy More Than Once?” is a common question among individuals grappling with financial difficulties. … Read more
Declaring Bankruptcy For Student Loan Debt Navigating the financial landscape when burdened with student loans can be a daunting task. You may find yourself pondering, “Can I declare bankruptcy with student loans in Canada?” Unraveling the fine print surrounding this issue can be equally intimidating, but we’re here to guide you through the process. Understanding … Read more
