Who Will Find Out If I’ve Declared Personal Bankruptcy?

Unmasking Personal Bankruptcy: Who Will Discover My Bankruptcy Filing?

Declaring personal bankruptcy often feels synonymous with admitting failure. This perception, coupled with the stigma that surrounds it, can turn the decision into a heart-wrenching ordeal. Yet, countless Canadians find themselves grappling with overwhelming debt through no fault of their own. Unexpected life events, such as divorce, the passing of a partner, severe health issues, or job loss, can thrust even the most prudent individuals into a whirlpool of debt.

While many dread the thought of their financial struggles becoming public knowledge, understanding who exactly will be privy to your bankruptcy declaration can help alleviate some fears.

Trust The Trustee

Once you’ve taken the step towards personal bankruptcy, your Trustee becomes the primary conduit of this information. They are obligated to inform your creditors about your bankruptcy declaration. These notifications encompass details regarding your assets, outstanding debts, and relevant budgetary information.

Office of the Superintendent of Bankruptcy (OSB)

The OSB, a division of Industry Canada, also maintains a record of your bankruptcy. They are responsible for overseeing the bankruptcy process across Canada. Given that your bankruptcy is public information, anyone with sufficient details could discover your financial status through the OSB. This accessibility might concern some individuals, but the prospect of debt relief and a fresh start often outweighs this fear.

Credit Agencies

The OSB also notifies Equifax and TransUnion, two major credit agencies, about your bankruptcy and discharge (when it happens). These agencies keep this information on file for a duration that depends on your bankruptcy history:


  • First-time bankrupts: 6 to 7 years (depends on the province).
  • Repeat bankrupts: 14 years.


This information is part of your credit report and can be accessed by anyone consulting it.

Is Bankruptcy My Only Option?

Despite the dread surrounding it, bankruptcy isn’t the only path to financial recovery. If you’re struggling with unmanageable debt, there are several other debt solutions available. Reach out to a financial expert for a free consultation to understand your options better.

Remember, declaring bankruptcy is a significant decision. Before taking this step, ensure you have all the information at hand and have explored all other debt solutions. A financial expert can provide you with the guidance you need to navigate this challenging time.

Find Your Personal Debt Relief Solution

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

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