Is it possible to be on social assistance and declare bankruptcy?

March 31st, 2015 by Questions

I had incurred line-of-credit debt. This was 9 years ago, and I have been away from Canada (I had to return home for reasons beyond control). I would like to come back to Canada and am not sure on how to proceed. It is not likely that I will have a job for a while, and I would probably have to be on well-fare before I obtain work. I would like to get rid of this debt which was originally around $20, 000 CAN.
Is it possible to pay the bankruptcy fees for a 9 month period, and then sign up for well-fare, or is it possible to be on social assistance and declare bankruptcy.
Assuming that’s the fee for a 9 month process is around 2,000 is it possible to pay and be away from the country, if I cannot find work right away or if they don’t allow me to be on social assistance).

How can I get in touch with you once I come back to Canada

Thanks,

Anna

Posted from: Ontario

Questions

One Response to “Is it possible to be on social assistance and declare bankruptcy?”


March 31, 2015 at 8:32 am, Doug Stuive, CA | Trustee | CIRP said:

In order to file for bankruptcy you do have to have a Canadian address. I would recommend that upon your return to Canada you first do a credit check on yourself to see if that debt has been written off or if they are still reporting and showing active collection activity. If the debt is not on your credit report any longer you can always delay dealing with it unless it resurfaces. You can file for bankruptcy on social assistance if required. Once you settle on a location in Ontario visit our web site for contact information for our closest office.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)