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Bankruptcy: Eliminate Your Debt and Get a Fresh Start

Are you thinking of filing bankruptcy but are not sure if that is the right choice in your situation? - Here is what you need to know, for start: Filing personal bankruptcy in Canada allows you to eliminate most debts, and get a fresh start. Once you file bankruptcy, collection calls and wage garnishments stop, and you can begin rebuilding your financial life.

Learn about the bankruptcy process & then contact a trustee

Contact a trustee near you for a free consultation: your first meeting will be free of charge or obligation.
If you are looking for more information about filing Bankruptcy in the United States please visit Bankruptcy America.

The latest bankruptcy questions, with our experts' responses:

Good afternoon: I am almost through the bankruptcy process…6 months left out of 21. Everything is going along fine and yesterday I get the news that the business I have worked at for 10 years is closing and I will receive severance pay. How drastically will receiving this lump sum affect my payments? Will this […]

Filed under: Bankruptcy
Posted on Wednesday, October 1, 2014
box listanswered by Questions @ 7:26 am 1 Comment

I stopped going to school in June of 1998 on student loan. Then in February 2009 I went back to school on a re-training grant and did not take a student loan am I able to go bankrupt or do a consumer proposal for the student loan from 1998? Posted from: Alberta

Filed under: Bankruptcy
Posted on Monday, September 29, 2014
box listanswered by Questions @ 9:46 am 1 Comment

My husband is declaring business and personal bankruptcy. In the personal will they take vehicles or furniture etc. That is in my name not his. And we have 8 children so what is the allowable amount each month. Thanks Posted from: Alberta

Filed under: Bankruptcy
Posted on Friday, September 26, 2014
box listanswered by Questions @ 10:32 am 1 Comment

If I get my mother to put a mortgage on my home just prior to claiming bankruptcy so that I don’t have any equity in my home in order to keep it. Is that ok? Posted from: Ontario

Filed under: Bankruptcy
Posted on Monday, September 22, 2014
box listanswered by Doug Stuive, CA | Trustee | CIRP @ 12:55 pm 1 Comment

Retirement and Bankruptcy - I had to retire early due to my health and now am going to have trouble paying my debt of 17 thousand dollars in credit card debt. what is my best option . Lost and scared Posted from: Ontario

Filed under: Bankruptcy
Posted on Wednesday, September 3, 2014
box listanswered by Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P @ 3:53 pm 1 Comment

Division of Marital Property in Bankruptcy - If my ex claims bankruptcy but there is an order of the court to pay me costs of 20,000 to be offset by me not paying child support. Does that get effected by her bankruptcy? Posted from: Ontario

Filed under: Bankruptcy
Posted on Wednesday, September 3, 2014
box listanswered by Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P @ 3:49 pm 1 Comment

My boyfriend is planing to claim bankruptcy. I am an employee of the bank in which we have a joint account and line of credit. Would that effect me and my empoyment with my banking institution……if i pay of the line and close our joint accaunt, would that change the situation , after that fact […]

Filed under: Bankruptcy
Posted on Tuesday, August 26, 2014
box listanswered by Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P @ 2:33 pm 1 Comment

The questions that I have are: Is the set amount for a single claimant still $1870 What can be claimed on a budget If your budget amount per month is less than the $1870 is the amount less than $1870 treated as surplus income Posted from: Alberta

Filed under: Bankruptcy
Posted on Monday, August 11, 2014
box listanswered by Barton Goth, Trustee @ 2:10 pm 1 Comment

Is the only deduction allowed to calculate any surplus income the income tax deductions that comes off my earning? Are the amounts for C.P.P. and E.I. also taken off when considering any surplus income? Also, I have medical insurance (started as Blue Cross many years ago) that is automatically withdrawn from my account….would that premium […]

Filed under: Bankruptcy
Posted on Wednesday, August 6, 2014
box listanswered by Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P @ 11:59 am 1 Comment

After selling a property how long do we have to wait to declare bankruptcy without the sale afecting us . Posted from: Alberta

Filed under: Bankruptcy
Posted on Wednesday, August 6, 2014
box listanswered by Barton Goth, Trustee @ 11:56 am 1 Comment