Welcome To Bankruptcy Canada
What Happens To My House after Filing Bankruptcy?
While the laws are slightly different in each province, the basic concept is the same. You can’t keep a house in bankruptcy if you have a lot of equity in it at the time when you go bankrupt. Read More
How Long Will I Be Bankrupt in Canada?
Several factors affect the length of you being bankrupt in Canada. Your bankruptcy ends when you receive a discharge, the event that actually cancels your debts. Most bankrupts in Canada are eligible for discharge after the minimum period of nine months. Your bankruptcy will last for more than nine months if the bankruptcy court orders your bankruptcy extended. Read More
What Happens to My Debts when I Go Bankrupt in Canada?
What happens to your debts when you go bankrupt in Canada is a complex question. It depends on the type of debt, and in some cases on your payment status. There are actually some debts that stay, even in bankruptcy.
Does Filing for Bankruptcy in Canada Affect My Spouse?
Filing for bankruptcy in Canada does not directly affect your spouse. Your debts are your debts; only you are responsible for them. If you go bankrupt, your debts are discharged. Your husband or wife or common-law spouse is NOT responsible for your debts. Read More
What Can I Keep if I go Bankrupt in Canada?
You can keep some of your possessions when you file for bankruptcy. These assets are called bankruptcy exemptions, because they are exempt from seizure by your bankruptcy trustee. Read More
What is a Consumer Proposal?
A consumer proposal is an alternative to declaring personal bankruptcy. It’s an arrangement that’s negotiated with your creditors through a consumer proposal administrator (who is also a licensed bankruptcy trustee). Read More
Learn About Your Options
Here you can get free help & advice from some of Canada’s best and most experienced bankruptcy trustees and consumer proposal administrators.