How to Stop CRA Garnishment After Receiving an RTP Demand Payment Letter

Ever felt the stress of unexpected financial setbacks? How to stop CRA garnishment is a question many Canadians face when dealing with debt issues and a RTP (Requirement To Pay) from the Government of Canada. Understanding the steps to halt this process can alleviate a significant amount of stress and help you regain control over […]

How Many Times Can You Do A Consumer Proposal

Ever felt like you’re stuck in a financial maze with no exit in sight? Debt can weigh you down, making every day feel like an uphill battle. But what if there’s a way to reset and start fresh? How many times can you do a consumer proposal? The straightforward answer is that you can file […]

Who Can Put a Lien on Your House in Canada?

Liens can significantly impact property ownership in Canada, often catching homeowners off guard. Understanding liens—what they are, the types that exist, and who can place them on your property—is crucial for any homeowner. This article unpacks the complexities of liens, explores potential lien holders, and discusses the consequences they can have on property sales. It […]

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

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

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.

Comments

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

Business VS personal Bankruptcy

My husband and I are partners in an incorporated company in Ontario. We will be disolving the company and are considering bankruptcy. The vast majority of information on the Bankruptcy Canada site is regarding personal bankruptcy. Can you recommend a site that deals mainly with corporate insolvency?

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “Business VS personal Bankruptcy”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

There are not very many quality sites that deal with corporate bankruptcy as it is so dependent on specific characteristics of your situation. However, be advised that if you are dealing with an incorporated company that has relatively few unencumbered assets and are considering personal bankruptcy, there may be no reason to place the company into bankruptcy. Simply close the company, once this is done file a personal bankruptcy / proposal and that will effectively clear up any personal debts you may have as well as any shortfall from the corporate side of things that you would have.