Bankruptcy when leaving Canada for good.

June 11th, 2007 by Questions

I\’am planning to leave Canada in a few months. I don\’t intend to return. I\’am a Canadian permanent resident , I\’am not a Canadian citizen.

I have debt of about 70K which I don\’t think I\’ll be able to pay before leaving. Can I file for bankruptcy right before leaving? I have no other assets except 2000 dollars in my RRSP , a few hundred dollars in my checking account , my airticket to leave the country and will receive about 4000 dollars from my employer when I quit.. Will my air ticket to leave Canada be seized? It is non-refundable. Will I be required to return to Canada at any time? (I cannot afford the air ticket and the short term accomodation costs!)

Questions

One Response to “Bankruptcy when leaving Canada for good.”



June 12, 2007 at 8:24 am, A licensed trustee said:

I suspect the only way a trustee will accept your case is if you make a substantial payment in advance. The difficulty you may encounter is that if anything goes wrong with your bankruptcy (usually that means you fail to do something that is required of you) you will be required to appear in Court at the end of the procedure in order to explain yourself. If you are living outside the country then it may be difficult for you to return in order to appear – if you don’t appear your bankruptcy will not be completed.

I suggest you use the links on this page to find a local trustee to discuss your options in person.

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