October 8th, 2008 by Questions
Can I file bankruptcy myself? What are regulations? What is the way to do it ? I can not afford to spare any money on a trustee.
Posted from: Ontario
October 08, 2008 at 10:07 am, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:
There is no way to file a bankruptcy yourself. The regulations are far to complicated for someone to negotiate themselves. Even in the US where people have a provision to file themselves, it isn’t recommended.
If you are not in a position to afford the cost of a trustee, which is typically nominal compared to the amount you are paying on your debts, then you may not need to file bankruptcy.
If your income is low enough you may be in a position we refer to as creditor proof (i.e. income is so low that there is nothing your creditors can do to force payment). If this is the case the trustee you meet with will explain this in more detail. But the best thing to do is to contact a trustee and they will help you determine what must be done.
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