FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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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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Bankruptcy and court orders

I have been ordered by the courts to pay substantial amounts due to the breakdown of a common law relationship and due to a traffic accident. I also own arrears on my income and property taxes. All these matters have been registered on title to my home and one of the creditors has started foreclosure proceedings against me. My wages were being garnished as well so I have actually quit my job to buy myself some time. I am considering filing bankruptcy will that stop the creditors from coming after me?

Posted from: Ontario

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One Response to “Bankruptcy and court orders”

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

When an assignment in bankruptcy is filed there is an immediate stay of proceedings. This stay of proceedings removes the ability of any of your creditors from coming after you for payment. So it stops most garnishee’s and all the phone calls. From the sounds of it what you need to do is to contact a local trustee to discuss the nature of your debts and how they would be impacted by the filing of a bankruptcy.