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USA creditors in Canada Bankruptcy

My wife and I live in Richmond, B.C. We have debts in Califonia (failed business) and in British Columbia. We have no jobs/incomes and have been living on credit secured by the house in which we live in Richmond. We are over 60 years old. Even if we sold our house, we could only pay off our Canadian creditors, but not the US creditors. What should we do?

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One Response to “USA creditors in Canada Bankruptcy”

A licensed trustee said...

Unfortunately, trustee are not allowed to “tell you what to do” – it’s a decision that you must make yourselves.

I can tell you that there are no international treaties on debt collection. Unless you have assets or income in the US, your American creditors are not likely to pursue you in Canada. They may call you or send you letters, but they cannot seize Canadian assets.

I hope that is of some assistance – I suggest you use the links at the side of the page to find a trustee near your home and give them a call. I am sure they’d be pleased to talk to you.