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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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Bankruptcy while involved in a law suit

If I am involved in a lawsuit where I am the one suing, And I claim bankruptcy will it put my law suit on hold and can will any money that I may win in the suit be taken and distributed to my creditors? The law suit is over the continuation of group insurance disability payments.

Posted from: Ontario

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One Response to “Bankruptcy while involved in a law suit”

A licensed trustee said...

If/when you file for bankruptcy your rights to sue are transferred to your trustee – in other words, your law suit is probably finished. You need to discuss this in detail with your lawyer and your trustee BEFORE you file.