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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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Registered

I have a registered company in Quebec( sole proprioter). The company is still making money, but not enough to handle debt I have accumulated on personal credit cards and taxes.If I were to file for bankruptcy, would I have to include the buisness. or could the buisness still run.

Posted from: Quebec

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One Response to “Registered”

A licensed trustee said...

This often confuses people, but if you are operating your business as a sole proprietorship then it is NOT a separate legal entity. It’s an extension of you.

If you file for bankruptcy all of the details of the business will be disclosed and included. That doesn’t mean you won’t be able to continue to operate the business, but this is something you’ll want to discuss with your trustee before you decide to file.