Comments on: How are U.S. creditors handled in a Canadian bankruptcy? http://www.bankruptcy-canada.ca/bankruptcy/2008/06/how-are-us-creditors-handled-in-a-canadian-bankruptcy.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Barton Goth - Goth & Company Inc. - Bankruptcy Trustees http://www.bankruptcy-canada.ca/bankruptcy/2008/06/how-are-us-creditors-handled-in-a-canadian-bankruptcy.html#comment-43074 Barton Goth - Goth & Company Inc. - Bankruptcy Trustees Fri, 27 Jun 2008 13:01:00 +0000 http://www.bankruptcy-canada.ca/bankruptcy/2008/06/how-are-us-creditors-handled-in-a-canadian-bankruptcy.html#comment-43074 If you file for bankruptcy in Canada and have US creditors you will not be released from your American debts. However, while you remain in Canada your American creditors will loose their ability to collect money from you, so unless you cross the border and enter the US you likely won't have any major issues. As for civil penalties and fines imposed by the federal government, in most cases these types debt can be released, but it really depends on the exact nature of these debts. As a result you are best to review the nature of thees debts and the context of the situation with a <a href="http://www.bankruptcy-canada.ca/emailUs.htm" rel="nofollow">local trustee</a>. If you file for bankruptcy in Canada and have US creditors you will not be released from your American debts. However, while you remain in Canada your American creditors will loose their ability to collect money from you, so unless you cross the border and enter the US you likely won’t have any major issues.

As for civil penalties and fines imposed by the federal government, in most cases these types debt can be released, but it really depends on the exact nature of these debts. As a result you are best to review the nature of thees debts and the context of the situation with a local trustee.

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