homme et femme discutant tout en regardant un ordinateur portable

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

2025-06-03

How to set financial goals with your spouse

Kiu Lau

It can be difficult to discuss your finances with a spouse. These five steps can help you set and achieve financial goals together.

Read More

2025-06-03

Exercising caution with digital currencies: A guide for Canadians

Lindsay Burchill

Lifestyle Debt

As more Canadians explore digital currencies, it’s essential to understand the risks. Learn how to protect your investments from volatility, scams, and legal pitfalls, and make informed decisions with this practical guide.

Read More

2025-05-27

How to budget for a summer vacation

Alana Orrell

Lifestyle Debt

Here’s a comprehensive guide on how to budget for a summer vacation, ensuring you make the most of your trip without overspending.

Read More

Consultation icon