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

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Real Estate Agent Bankruptcy

I am a Real Estate Agent in Ontario and I went bankrupt in the early 90`s due to job loss. Now I have over 75k in debt and no business and I am married. I just want to know if it will effect my Licence to sell in Ontario. I don`t want to tell my broker and I can`t get any info from the Real Estate Board.

Posted from: Ontario

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One Response to “Real Estate Agent Bankruptcy”

A licensed trustee said...

To the best of my knowledge, bankruptcy will not have any affect on your licence to sell real estate. If you were a broker holding people’s money in trust it wouold, but as a sales rep you shouldn’t be handling other people’s funds.

As to whether or not you tell your broker, that decision is yours, but depending on where you live, the fact that y9ou have filed for bankruptcy may get back to your broker and the fact that you hid this from them might cause you some problems.