Expat Bankruptcy

July 5th, 2008 by Questions

I have moved to the US from Canada but have significant debt in Canada including CCRA, Student Loans and Credit Cards. I have no assets in Canada but have purchased a house and vehicle in the US. Can I file for Bankruptcy in Canada while I am living in the US? If I do will it affect my credit rating in the US? If ignore the debt and come to Canada to visit will they stop me at the border?

Posted from: British Columbia

Questions

One Response to “Expat Bankruptcy”



July 09, 2008 at 6:49 am, A licensed trustee said:

If you can arrange to attend in person at a trustee’s office in Canada on all of the required occasions then you may file for bankruptcy in Canada even though you reside elsewhere.

I should warn you that your trustee will likely require a substantial retainer up front in order to handle your case – it would be too easy to file for bankruptcy and then decide not to complete it properly leaving your trustee holding the bag, so to speak…

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