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

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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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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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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effect on family

Are members of the `family unit` treated as bankrupts during the bankruptcy? ie. a son or daughter gets a grant, scholarship or any other money they may come into.

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One Response to “effect on family”

A licensed trustee said...

No they are not, BUT as a bankrupt person, you are required to report on the income and expenses of everyone in the household and your bankruptcy payment (for surplus income) may be affected by the other people in the household.

This can be a complicated matter to understand – your best bet is to speak directly to a trustee and they can walk you through a couple of examples of how the surplus income rules work.