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.

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

Select Trustee By Province

When is bankruptcy advertised?

is it true that a second time bankruptcy automatically gets advertised in the newspaper.
i thought it was only if there was more than $10000 of assets to distribute.if that is the case then is it the total of surplus over the 9-21 months – which could of course change?

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “When is bankruptcy advertised?”

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

I Canada abankruptcy is only advertised in the newspaper if it is an ordinary administration (i.e. anticipated receipts of $10,000 or greater). Whether or not you have been bankrupt before has no bearing on whether things are or aren’t advertised. The other difference a second time bankrupt is not eligible for an automatic discharge after 9 months, a court application must be made to request a discharge and the court may require you to stay in bankruptcy for a longer period of time and perhaps some other obligations as well (in Alberta a second time bankrupt usually must stay in bankruptcy for an additional 12 months and often make some additional payments as well). For more information on what the court is typically requiring in your area you are best to discuss this with a local trustee.