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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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My Promissory Note

Is a promissory note legal and if a person claims bancruptcy can they get the money back as a creditroy

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One Response to “My Promissory Note”

A licensed trustee said...

Assuming that you drafted your promissory note in the proper form such that it is legally enforceable, you should have a provable claim in bankruptcy and be entitled to you fair portion of the money collected in the bankruptcy.

If you have recieved a “Notice to Creditors” package then the person that filed bankruptcy has told their trustee that they are indebted to you – that should make the process easier. Fill out the forms and send them back to the trustee. I

If you haven’t received the package then call the trustee handling the bankruptcy and ask them to send you a package. If you have any questions, contact the trustee that is handling the bankruptcy directly.