Filing bankruptcy involves completing paperwork that must be filed with the Office of the Superintendent of Bankruptcy.
Your trustee is responsible for preparing and filing this paperwork, and ensuring you have signed it.
The trustee is responsible for your paperwork and is licensed to handle it all for you.
There are several important documents that they need to take care of, and a process that they will follow to ensure everything is carried out correctly.
You will only need to look over the paperwork and sign it to confirm that you want to file bankruptcy.
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The Process
Before doing anything else, the first step is to meet with a trustee for a free consultation.
The Licensed Insolvency Trustee will look over your finances and make recommendations for your next steps.
They might recommend bankruptcy or a consumer proposal, or they could suggest other avenues for resolving your debts.
If you want to file bankruptcy, they will then prepare your paperwork and arrange to meet you so that you can sign the documents.
They will witness your signature and send the documents to the Office of the Superintendent of Bankruptcy.
There are several documents that need to be filed for bankruptcy.
These include:
- Assessment Certificate.
- Form 65 – Monthly Income and Expense Statement of the Bankrupt and the Family Unit and Information Concerning the Financial Situation of the Individual Bankrupt.
- Form 79 – Statement of Affairs.
- Form 21 – Assignment for the General Benefit of Creditors.
These documents are filed online.
As soon as they are submitted, your trustee will receive a Certificate of Appointment.
This document confirms that your bankruptcy is filed.
Once your bankruptcy has officially been filed, creditors will no longer be allowed to contact you or take legal action against you.
Your Certificate of Appointment gives you official confirmation that you have filed bankruptcy and your bankruptcy file doesn’t start until you receive it.
Another benefit of this document is that it also features your Estate Number.
This is the number that you can quote when communicating with bill collectors to prove that you have filed bankruptcy.
You can give them this number, and they can add it to their records so that they know not to contact you in the future.
Your Responsibilities
Your trustee is the one who will file your bankruptcy documents for you, but you will still need to sign them.
You will have to arrange an appointment to sign the documents so that your trustee can file them right away.
Before you leave their office, ask them to print out a copy of your Certificate of Appointment.
This will ensure that you have your Estate Number to use whenever you might need it.
It is also useful to have your trustee’s contact information, including their phone number.
A Licensed Insolvency Trustee will manage the bankruptcy filing process for you.
Bankruptcy Canada makes it easy to find a local trustee who can assist you with your application and provide advice.
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Bankruptcy FAQs
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How to Rebuild Credit Following Bankruptcy
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