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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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When does my bankruptcy get advertised?

I have non exempt assets specifically RRSP’s of $12,000 and no other assets. In B.C is it true if the assets are over $10,000 then it has to be in the legal section of the local newspaper. Is it $12,000 minus the taxes which would then make it below $10,000. (p.s these funds are in a labor sponsored so there is an additional 15% provincial and 15% federal tax over)

your answer would be greatly appreciated.

thanks

A.J.

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One Response to “When does my bankruptcy get advertised?”

Barton Goth GCO Bankruptcy Trustees said...

It doesn’t matter where you file in Canada, in every estate where the realizable assets of the
bankrupt, after deducting the claims of secured creditors, will not exceed $10,000 the trustee is required to publish a notice of the first meeting of creditors in a local newspaper, as soon as possible and no later than five days before the first meeting of creditors.