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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Effective Date Question

Is a person considered bankrupt from the moment they sign the papers at the trustees office?

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One Response to “Effective Date Question”

Scott Schaefer, CA said...

Signing the papers at the Trustee’s office is the first step to filing bankruptcy, but the actual bankruptcy is not in effect yet. The trustee then sends the signed bankruptcy documents to the Official Receiver at the Office of the Superintendent of Bankruptcy. The Official Receiver issues a Certificate of Appointment which then the bankruptcy is in effect.