Bankruptcy Questions – Canadian Bankruptcy FAQs

If you have questions about bankruptcy, consumer proposals, Canadian personal bankruptcy laws, or how you can get a fresh start by working with a local bankruptcy professional this page will give you all the answers.These questions about bankruptcy are the most common questions our Licensed Insolvency Trustee receives.

Our LIT has organized our popular bankruptcy questions into 13 separate categories for easier browsing.

Bankruptcies and proposals have been increasing in popularity as more and more Canadians are realizing the benefit of these methods for dealing with debt.

Canadian Bankruptcy FAQs – Most Popular Bankruptcy FAQs

Questions About Bankruptcy in CanadaWhat is the Bankruptcy Law in Canada?
What is a Licensed Insolvency Trustee?
Who Will Know I’ve Gone Bankrupt?
How is My Spouse Affected?

What is the Bankruptcy Cost in Canada?
What are the Steps in the Bankruptcy Process?
What is Surplus Income?
What Happens During Bankruptcy?
How Does Bankruptcy Work?
What is the Bankruptcy and Insolvency Act
Will I Ever Get Credit Again?

Before Bankruptcy FAQs

What are the Benefits of Filing for Bankruptcy?
How Do I Deal With the Consequences of Bankruptcy?
Should I Be Concerned About My Credit Rating?
Can Bankruptcy Help If I am Underwater on my Mortgage?
Must I File My Tax Returns Before Filing Bankruptcy?
What Happens to a Cosigner in Bankruptcy?
How Can I Stop a Wage Garnishment?
Do I Have to Cancel My Contracts in Bankruptcy?
Do I need a Licensed Insolvency Trustee or a Bankruptcy Lawyer?

Should my Non-Bankrupt Spouse Divulge Their Income?
How Quickly Can Bankruptcy be Filed?
What Happens to My Car in Bankruptcy?
How Long Does Bankruptcy Last in Canada?
How do I Conduct Myself Before Going Bankrupt?

Should I Feel Guilty About Filing Bankruptcy?
Should I Declare Bankruptcy?
How Do I Go Into Bankruptcy?
When Should I File for Bankruptcy?
When Should I Seek Bankruptcy Advice?

During Bankruptcy FAQs

What is Mandatory Bankruptcy Counselling?
What are the Role of Creditors in a Bankruptcy Filing?

What are the Duties of a Bankrupt?
What Happens if My Financial Situation Improves During Bankruptcy?
Can Someone Oppose My Bankruptcy Discharge?
When is a Meeting of Creditors Called?
What Happens When I Go Bankrupt?

How is an Inheritance Treated in a Bankruptcy?
What if I Forgot to List a Creditor on my Bankruptcy Paperwork?
How Does Bankruptcy Impact Tax Refunds?
What About My Wages During Bankruptcy?

After Bankruptcy FAQs

Why Should I Keep My Bankruptcy Discharge Papers?
What Companies Lend to Discharged Bankrupts?
Do Special Rules Apply for a Second Time Bankruptcy?
Can I Purchase a Home After Filing Bankruptcy?
How Long Does Bankruptcy Stay on my Credit Report?
Is There Life After My Bankruptcy Discharge?

Student Loan Bankruptcy FAQs

How Do Canadian Student Loans and Bankruptcy Work?
Is Student Loan Debt Treated Fairly in Canada?

Credit Counsellors FAQs

How Does the BC Law Protecting Consumers Work?

Consumer Proposal & Business Proposals FAQs

Can I Avoid Bankruptcy With a Consumer Proposal?
What is the Length of a Consumer Proposal?
What if I Cannot Afford My Consumer Proposal Payments?
What is a Division I Proposal?
What are the Strategies For Drafting a Business Proposal?

How Does a Commercial Proposal Work?
How Does a Consumer Proposal Affect My Credit Rating?


Bankruptcy and Insolvency Act FAQs

What are the Proposed Changes to the BIA?
Are There Many Instances of Bankruptcy Abuse and Bankruptcy Fraud?
Why Does Canada Need Bankruptcy Laws?


Licensed Insolvency Trustee FAQs

Why Do Some People Think Trustees Have a Sad Job?
Why Should I Choose to Work With a Licensed Insolvency Trustee?
How Can I Choose a Good Licensed Insolvency Trustee?


Debt Related FAQs

How Can I Stop Collection Calls?
How Can I Make a Budget?
Why Should I Contact My Creditors?
What are my Debt Collection Rights?
What is Debt Consolidation?


Avoiding Bankruptcy FAQs

How Can I Assess My Financial Situation?
What are the Warning Signs of a Financial Problem?
How Can I Recover From Unexpected Financial Problems?
How Can I Avoid Bankruptcy?
How Can I Get Out of Debt?
Is There a Good Alternative to Bankruptcy?

Bankruptcy Related FAQs

How Often Can You File Bankruptcy?
Can I File Bankruptcy Twice in Canada?
How Does Bankruptcy Affect My Credit Rating?
Is Bankruptcy a Good Choice for Seniors?
Can I Keep My Bank Account?

Can I Get a Bankruptcy Overview?
What are the Bankruptcy Rules?
Can I Get Bankruptcy Protection?
Can Bankruptcy Eliminate Tax Debt?
Why Was There a Trustee Name Change?

What are the Bankruptcy Consequences?
What are the Bankruptcy Pros & Cons?
What are the Types of Bankruptcy Available in Canada?
Can I Keep My Business if I File Personal Bankruptcy?

Miscellaneous Bankruptcy FAQs

Which is Better Canadian or American Personal Bankruptcy?
Is My Debt Good, Bad or Ugly?
Why Should Bankruptcy Counselling Be Discontinued?
Are Canada’s Bankruptcy Exemptions Fair?
What are Secured Debts?
What are Unsecured Debts?
What is an Orderly Payment of Debts Order?

How Can I Protect My Personal Assets From a Business Disaster?
Can I Go Bankrupt Abroad?
What is a Business Receivership?
Does This Site Use Infographics?

Who Files Bankruptcy?

Learn about Canadian personal bankruptcy laws by browsing these articles about bankruptcy questions and their answers.

If you still have further questions about bankruptcy, filing a consumer proposal or the other debt consolidation services a licensed insolvency trustee can provide please don’t hesitate to contact us.


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