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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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Business bank account

I own a business in BC. (LTD.Corporation)
Can the creditors seize my business goods, bank account?

Can they seize my personal car which worth about $5000?

Look forward to hearing from you.

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One Response to “Business bank account”

Barton Goth GCO Bankruptcy Trustees said...

If they are personal creditors they typically cannot affect a business account or business property.

As for being able to seize a vehicle or personal goods, typically they cannot as each province sets a list of property that is protected by provincal law, but this list changes from province to province. As a result you are best to local trustee to determine if all you property qualifies or not.