2024-09-25
What happens if I don’t fulfill my duties during a Bankruptcy?
Bankruptcy
If you’re going through a personal Bankruptcy, one of your main goals is to obtain your discharge — that is, to have your debts cleared so you can start fresh.
Can I File For Bankruptcy Anywhere In Canada?
The rules for filing a bankruptcy say that if you're going to file a bankruptcy, you have to file it in your "locality."
That means, you would see a trustee in one of these areas:
- (If you operate a business) where you've carried on business during the past year; or if that doesn't apply to you:
- Where you've lived during the past year.
- If neither of those apply to you, then you would file in the location where most of your possessions/assets are located. That means, you choose a trustee in that area. he trustee will know whether you have picked the right area and he or she will know where to file the documents.
Linda Paul
CIRP, LIT
Senior Vice-President
Servicing: Abbotsford, Chilliwack, Maple Ridge, Surrey, Langley
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Life after Bankruptcy
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The fresh start you obtain after filing a Consumer Proposal or Bankruptcy offers many new paths for managing your day-to-day needs and planning for your future.
2024-05-30
How Often Can You File For Bankruptcy (MNP 3 Minute Debt Break)
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Canadians are facing a cost-of-living crisis. With rampant inflation, many have taken on more debt just to make ends meet. With interest rates still high, some households might be considering declaring Bankruptcy for the first, second, or even a third time.
If this sounds like you, don’t worry — many people are in the same situation, and it isn’t anything to be ashamed of. Filing for Bankruptcy or entering a Consumer Proposal might be the solution you need to relieve financial stress and get a fresh start.
