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Bankruptcy FAQ

You have questions? We have answers.

Debt can be overwhelming and confusing, but it doesn't need to be. Our Licensed Insolvency Trustees have answered the Frequently Asked Questions we've been asked about Bankruptcy.

Licensed Insolvency Trustee holding up a piece of paper and advising a person on bankruptcy options.

Consumer Proposal vs Bankruptcy

Consumer Proposals and Bankruptcies are both government legislated options which can provide you with relief from significant debt problems. In addition, both debt solutions can only be administered by a Licensed Insolvency Trustee and provide a legal stay of proceedings which require creditors to discontinue harassing collection calls, garnishment or other legal proceedings.

Determining which, if either, option is an appropriate solution in your own unique situation depends on a number of variables. Let’s explore the advantages and disadvantages of both a Consumer Proposal and a Bankruptcy.

Compare Your Options

Latest Blog Posts

2025-09-04

Will Bankruptcy Erase All Of My Debt?

Mary Plahouras Rob Shier

Bankruptcy

The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.

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2025-08-01

Transferring Assets Before Bankruptcy: Why You Should Consult a Trustee

Wesley Cowan

Bankruptcy

If you’re struggling with your finances and heading toward bankruptcy, you may think it makes sense to sell or transfer some of your assets.

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2025-06-30

Who Can File For Bankruptcy

Linda Paul

Bankruptcy

There are several common scenarios which may cause you to wonder whether personal bankruptcy is an appropriate option to get out of debt.

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