File Bankruptcy in Canada

bankruptcy canada

All About Bankruptcy in Canada

Signs You May be Headed for Bankruptcy

Possible Solutions to Bankruptcy

File Bankruptcy or Make a Financial Proposal in Canada

Debts Not Discharged from Bankruptcy

What is Bankruptcy?

What is a Proposal?

Questions about Bankruptcy in Canada

Questions about Proposals in Canada

Some Assets Exempt in Bankruptcy

How is My Spouse/Husband/Wife/Partner Affected by my Bankruptcy?

Student Loans and Bankruptcy in Canada

Credit Ratings

Rebuilding Credit in Canada After Bankruptcy

Opening a Bank Account After Bankruptcy

Secured Creditors

CRA Income Tax Debt and Bankruptcy

Farmers in Financial Difficulty

Excerpts from the Canada Bankruptcy and Insolvency Act

Who else can help with Bankruptcy in Canada?

Alternatives to Bankruptcy in Canada

Credit Repair

Debt Consolidation

Consumer Proposals

Debt Management

Dealing with CRA and Bankruptcy

Bankruptcy Canada - Who Can File Bankruptcy or Make a Proposal?

You can file bankruptcy or make a proposal in Canada if:

  • you are not presently in bankruptcy and;

  • you owe at least $1,000 and;

  • you are not able to meet your regular payments as they become due; or

  • you would not be able to pay all of your debts if all of the assets you are not allowed to keep are sold.

Your company, partnership, or business may also file bankruptcy or make a proposal if it meets the above requirements.

You should be aware that any unsecured creditor to whom you owe more than $1,000 could try to force you into bankruptcy. This is called a petition in bankruptcy. In this case, the creditor must prove that you have committed an act of bankruptcy, such as not paying your bills as they came due. The court reviews the facts and, if the petition is allowed, issues a receiving order which places you in bankruptcy with a trustee selected by the petitioning creditor.

This site provides free information about personal bankruptcy in Canada and personal bankruptcy alternatives in Canada, including answers to common personal bankruptcy questions.

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