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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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.

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Basic Question

My question is more of a general question. I will be forced to file for bankruptcy in the next week due to one large debt. Other than this one I am financially doing good.

I am terrified of filing and wish I did not have too. In general, is the next 9 months of my life going to be a bad nightmare that I wish I could wake up from or will it be a reasonably seamless and painless process?

I am dreading going through this.

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One Response to “Basic Question”

Barton Goth GCO Bankruptcy Trustees said...

We find the hardest part of the bankruptcy is typically the days before you sign the legal documents. Once people sign they often find that the bankruptcy process is much smoother and easier than they originally thought.

Realistically your duties are fairly simply, you keep some receipts, submit some statments to the trustee, attend 2 counsellings sessions, forward the trustee your tax information and make monthly payments. While there are some other small things that can come up it is really quite straight forwards.