2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
The answer is no. A Government-Licensed Trustee will be there to help you through the process.
A Trustee will meet with you initially to review all the options and help you make your decision as to which alternative works for you. If Bankruptcy is the right alternative we will:
a) Help you get the necessary information together to file the bankruptcy paperwork
b) Fully explain the process to you and provide information on your duties and responsibilities
c) Meet with you during two counselling sessions to discuss budgeting, cash management, restoring credit ratings etc.
d) Keep you informed during the process
We will also send notices to all creditors and, should there be a creditor who continues to pester you after the bankruptcy we will make sure they stop (Usually, this is not an issue, creditors understand how the process works).
And finally, you can always phone us if anything isn't clear. We will be there throughout the process. If you have any questions about bankruptcy and the process involved please contact us.
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.
2025-06-30
Bankruptcy
There are several common scenarios which may cause you to wonder whether personal bankruptcy is an appropriate option to get out of debt.