Can I sell my second car before I file for bankruptcy. Would this look suspicious even if the profit went to overdue utility bills. Car is only worth 1000. Posted from: Alberta

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Bankruptcy: Eliminate Your Debt and Get a Fresh Start
Read our book on filing personal bankruptcy in Canada.
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.
For details on filing bankruptcy and bankruptcy process in Canada:
- read the answers to the most common personal bankruptcy in Canada questions (see below),
- watch our videos on personal bankruptcy in Canada,
- visit Bankruptcy Canada for answers to your specific questions on bankruptcy.
Most Frequently Asked Questions on Personal Bankruptcy in Canada:
- What is Personal Bankruptcy in Canada?
- What am I required to do while I am bankrupt?
- How Long Will I Be Bankrupt in Canada?
- What happens to my debts when I go bankrupt in Canada?
- Will tax debts and Revenue Canada debts be discharged in a bankruptcy in Canada?
- Does Filing for Bankruptcy Affect My Spouse?
- Who will know that I filed bankruptcy in Canada?
- What Are the Causes of Bankruptcy in Canada?
- How Many People Go bankrupt in Canada?
- What is the Bankruptcy and Insolvency Act?
- What is surplus income?
- Should I Feel Guilty If I Go Bankrupt?
To ask a question about bankruptcy in Canada:
- Post an anonymous question about bankruptcy to our blog.
- Request a free evaluation of your situation to get an expert's opinion about whether or not personal bankruptcy is the right answer for you.
- Email your question to a bankruptcy trustee in your area.
You can also contact a trustee near you for a consultation: your first meeting will be free of charge or obligation.
The latest bankruptcy questions, with our experts' responses:
I will have to go bankrupt soon and will also turn 65 around the same time. I would like to delay taking my CPP so I will get a higher monthly benefit when I am older. Can my trustee force me to apply for CPP? Can the trustee force me to apply for Old Age [...]
I am a bit confused as to which figure is used to determine surplus income. Is it your income before or after taxes? Posted from: Ontario
Monthly I receive $200 dollars for the child tax credit from the government I put this money towards RESP for my kids will I loose this benifit or their RESP s ???? Posted from: British Columbia
My husband and I are separating and we will both need to claim bankruptcy. Should we make an appointment to see a trustee together, or do we need to make separate appointments? (All of our outstanding debts are in both of our names). Posted from: British Columbia
I initiated my bankruptcy in 2005-04, However I failed to make financial reports and pay the surplus. After failing to do so my trustee closed my file and sent me a letter saying it would cost me an extra $1000 to get discharged… This was a long time ago and I was young and stupid [...]
I have been paying my trustee $482/mo for my bankruptcy proposal. This includes payment for surplus income. I worked overtime, but have not paid the surplus income on the overtime. What will happen with my bankruptcy if I cannot afford to pay the surplus income payment on the overtime on my last scheduled payment to [...]
i am a single father of 1. Can i claim my 9 year old child as a 2 peson house and claim my childcare expenses at the same time? Posted from: Alberta
Is their a more economical way to claim for bankruptcy if you are having trouble getting off of welfare. I would like to start improving my credit direction and I am not able to find permanent employment. The bankruptcy fees are not affordable when living with financial assistance. Is their no way to start a [...]
I lent money to my business and it went bankrupt. The loans give me a tax loss that I understand I can apply against income for the past three years and get a refund or apply against future income in the next 10 years. I am going bankrupt. Will the trustee make me use the [...]



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