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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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

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Will I lose my mutual fund license if I file for bankruptcy?

Will I lose my mutual fund license if I file for bankruptcy? I am considering bankruptcy due to high revolving credit balances that I have never missed a payment on but due to my husbands employment situation the past few years our income has reduced significantly and our balances have continued to grow and we are using one credit account to pay the other just to keep the payments up to date. My biggest concern is whether my mutual fund license in New Brunswick being revoked as I am the main income earner of our family and require my mutual fund license for my position. Will I lose my mutual fund license if I file for bankruptcy? I have done extensive searching online and i know my bankruptcy would need to be disclosed to my compliance team as well as to the MFDA.

Posted from: New Brunswick

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One Response to “Will I lose my mutual fund license if I file for bankruptcy?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

The criteria varies from province to province, you are best advised to contact your local authority to clearly establish whether bankruptcy is sufficient grounds to cancel a licence in New Brunswick.