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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Summary administration

What is summary administration as mentioned in one of the blogs – I couldn’t find it when I did a search.

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One Response to “Summary administration”

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

When you file a bankruptcy there are 2 types of administrations; summary and ordinary. An ordinary administration is for bankruptcy that the anticipated receipts are going to exceed $10,000, whereas a summary administration is for those estates with less than $10,000 in revenues. The idea between these different administration types is the summary is a streamlined version that has less statutory and administrative tasks so that the cost of filing a bankruptcy in these simpler situations can be minimized.