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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Crossborder Bankruptcy

I am a Canadian. My small business in Georgia has become insolvent. I have also incurred significant personal debt which I cannot pay back. I have moved back to Canada. Should I declare bankruptcy in Canada or do I need to declare backruptcy in the US?

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One Response to “Crossborder Bankruptcy”

A licensed trustee said...

If you file bankruptcy in Canada you will be potected only so long as you remain in Canada – if you have assets or income in the US then your American creditors will continue to pursue your interests in the US.

Unfortunately, you will have to contact an American Bankruptcy lawyer to determine whether or not you can file for bankruptcy in the US if you no longer reside there.