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.
Nobody sets out to land themselves in debt, and facing financial difficulties is an immensely stressful situation. However, it’s not only the struggle to make ends meet that causes tension. Quite frankly, the ongoing harassments from collection agencies and the threat of court hearings are enough to send shivers down anyone’s spine. Worse still, it’s … Read more
Consumer Proposals have become an increasingly popular form of debt relief in recent times, allowing debtors to avoid filing for bankruptcy in Canada while helping creditors recover a greater percentage of the monies owed. Even at a glance, it’s not hard to see why the process is deemed better than bankruptcy. They have existed for … Read more
Switching Between Bankruptcy and Consumer Proposal in Canada In Canda, you have two insolvency options: Bankruptcy. Consumer proposal. Both options will help you become debt-free, yet they’re equally suitable depending on the situation. Therefore, deciding between a consumer proposal or bankruptcy is a big decision. Need Help Reviewing Your Financial Situation? Contact a … Read more
What Impacts Does Insolvency Have on Me as a Lawyer? If you’re a lawyer that’s operating in Ontario and you’re struggling with your debt, then you might be looking to file for bankruptcy or a consumer proposal. However, due to the profession you’re in, there are certain implications that come as a result of this … Read more
If you’re struggling financially and you think that the only way forward is to file for bankruptcy, it’s important to seek professional guidance from a Licensed Insolvency Trustee. By acquiring this expert advice, you’ll be taken through the options that are available to you. And while bankruptcy might seem like the only way out of … Read more
The sad truth about debt is that it doesn’t discriminate. Debt is a problem that can affect men and women of all ages and from all walks of life. As you’ve likely guessed from the title of this page, it even affects senior citizens. According to Statistics Canada, in 2017, people aged 65 or over … Read more
People Are Charging for Bankruptcy Advice. Being in debt can be a complicated and challenging situation—one where you can feel very financially and emotionally vulnerable. In fact, people in this situation often worry about their friends and family finding out about losing valuable assets like homes and business and even having their wages garnished. That … Read more
For those struggling with debt in Canada, it is good to know that there is more than one option to consider. In fact, there are four Canada- specific options. These include personal bankruptcy, business bankruptcy, consumer proposals, and division I proposals. The variety of choices regarding bankruptcy is a good thing because it means you … Read more
What Debt Help Resources Do I Have Available to Me? Did you know that as a Canadian, you have so many options available when it comes to clamping down on your debt? Personal debt is now at one of its highest levels and this means that more and more people are seeking relief solutions. The … Read more
Debt Payments Myths If you want to get your life back on track with debt, then you need to make sure that you are doing everything you can to look at all of the options that are available. That being said, it’s also important that you do your own research into advice providers as well, … Read more
How Bankruptcy Impacts Your Assets While many people consider bankruptcy as one of the most effective ways to deal with severe debt, it’s important to remember that you’ll likely need to give up some of your assets in order to complete the process. Thankfully, most of the assets you can keep are related to supporting … Read more
How to Deal With Debt Shaming Sometimes it’s impossible to get a thought out of your head. For instance, if you read ‘Don’t think about a pink elephant’ what immediately pops into your head? Exactly. No matter what you do you can’t shake it bouncing around in your mind. The same can be true for … Read more
Should a Deceased Person’s Estate Go Bankrupt? What happens to someone’s debt once they die? Does it disappear? Unfortunately, the situation is not quite that simple and the shocking reality is that debt can linger long after someone passes away. That’s important to be aware of, particularly when you realize a lot of people are … Read more
Human Resources Professional and Insolvency Are you wondering whether you can file either a consumer proposal or for bankruptcy as a human resources professional? Here’s what you need to know about this step if you do fill one of these positions. There’s no set rule on who will or won’t be declared insolvent in the … Read more
1 In 6 Canadians Go Bankrupt…You are not Alone! Are you worried about the level of debt that you’re dealing with right now? You’re not alone and in this article, we’ll reveal the dangerous situation that could lead to a lot of Canadians facing bankruptcy. According to recent statistics, 1 in 6 Canadians are going … Read more
Surplus Income Payments & Why They are Necessary For Some Bankrupts Are you unable to afford your house payments or vehicle costs? If so, then you will need to make surplus payments. Here’s everything that you need to know about this part of filing for bankruptcy. Once you research bankruptcy, you’ll begin to understand and … Read more
There are numerous pathways out of debt and the trick is finding the one that matches your needs. In this article, we’ll discuss everything that you need to know about a consumer proposal and bankruptcy. Are you struggling with insurmountable levels of debt? If so, then you might be wondering what your options are and … Read more
When you file for bankruptcy, provided that you meet your obligations, you will be awarded a discharge and released from your debts. But there are certain exceptions to that and many people ask the question, will fraud charges survive bankruptcy? If you are making a case against somebody that has committed fraud and they declare … Read more
Involuntary Bankruptcies The idea of filing for bankruptcy is a very scary one for a lot of people. While this process can be the mechanism that enables you to achieve financial freedom, there are many misconceptions surrounding this sort of process that leave people feeling negative about it. One of the most common of these … Read more
Sometimes, it’s not that simple to file for bankruptcy or a consumer proposal. There can be issues associated with your job that you need to consider before just steaming ahead. It’s natural and wise to address your debt problems before they get even further out of hand – but you need to make sure you’re … Read more
