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How can we help you?

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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high income

can you file bankruptcy on approximately $40,000.00 debt with an income of in excess of $100,000?

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One Response to “high income”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Anywhere in Canada, as long as you owe more than $1000 and are unable to pay your debts as they generally become due and the total resale value of all your property is insufficient to pay all your debts in full then you are eligible to file a bankruptcy.

However, you will find that the cost of your bankruptcy is dependent on your monthly net income vs. the number of dependents you support. As a result you could potentially find a bankruptcy quite costly. For more information on what it may cost you should contact a licensed trustee, and he will be able to go through this with you.