FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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Regarding Employment

After filing for bankruptcy I was laid off work. Now I have a chance to start a business is it possible to start a business when you have not been discharged? Thank You.

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One Response to “Regarding Employment”

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

After filing bankruptcy in Canada, there is nothing preventing you from starting a business, however, keep in mind the following two points:
1. You are not able to borrow money while in bankruptcy without disclosing the fact that you are an undischarged bankrupt;
2. Under the Canadian Business Corporations Act and similar provincial legislation, as an undischarged bankrupt you are not able to be a director of a limited company.
I always suggest that if you are contemplating working on your own contact your trustee
and he will be able to advise you as to the best way to structure things.