2025-11-11
Who will know I’ve filed for Bankruptcy?
Bankruptcy
You may be considering filing for Bankruptcy — and worried about who may find out. Learn who will be notified when you declare Bankruptcy.
No, that can actually cause you problems in a bankruptcy.
One of the basic elements of bankruptcy is that you have to treat all of your creditors the same. If you choose one creditor and pay them but leave the others to be dealt with in the bankruptcy, that's considered to be unfair. If you do this (especially if it's with a related party), it's pretty likely that you'll have trouble getting your Discharge (which is the final step in a bankruptcy - it's the step that extinguishes your debts and 'sets you free.') In most cases, the court will require you to pay into the bankruptcy an amount equal to what you paid to the family member before they will give you your discharge.
2025-11-11
Bankruptcy
You may be considering filing for Bankruptcy — and worried about who may find out. Learn who will be notified when you declare Bankruptcy.
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-08-01
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.