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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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do I qualify for personal bankruptcy in canada?

I make 50k a year and have about 45k in debts with no assets. The interest alone on the credit make it impossible to nip away at the debt. Can I qualify to declare personal bankruptcy on this alone?

Posted from: Quebec

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One Response to “do I qualify for personal bankruptcy in canada?”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The requirements on must meet to file for personal bankruptcy in Canada are very simple. You must either reside in Canada, own assets in Canada, or have resided in Canada withing the last 12 months. In addition, you also have to owe at least $1000 and be unable to pay your debts as they become due. If you can meet all of these requirements (and it sounds like you can) then you would qualify.