Declaring bankruptcy in Canada while overseas
My question is whether I can declare bankrupty outside of Canada and who should I contact? Also can my credit be ruined in the other country if I have not been paying my bills in Canada? I have not been able to meet up with my bills since I graduated and I would like my slate to be clean if I ever go back to Canada.
To declare bankruptcy in Canada you must meet personally with a trustee, so except in very unusual circumstances, you would be required to return to Canada to go bankrupt.
In most cases creditors in Canada will not pursue you in other countries, other than perhaps to phone you or send you letters, since it is costly for them to begin court action in another country. It would also be very unusual for them to report Canadian debts to a foreign credit bureau.
In most cases we advise you to wait until you return to Canada to deal with Canadian debts. However, you can always contact a trustee in whatever city you last lived in to deal with your debts.