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The Licensed Insolvency Trustee will advise the Office of the Superintendent of Bankruptcy and all the proven creditors of a debtor, of the debtor completing the terms of their bankruptcy or consumer proposal, but it is the obligation of the debtor to advise the credit bureaus.
Refer these creditors to your Trustee. If the creditors are persistent provide them with a copy of your Discharge Certificate or Order and a copy of your Statement of Affairs showing that the creditor was included in your bankruptcy and that your debt to them is now discharged. If the creditor is harassing you or collecting in an unethical manner you can report them to the Office of Consumer Affairs in your Province.
If your Trustee hasn’t been discharged yet, simply tell the creditor to contact your Trustee and participate in your bankruptcy. If your Trustee has been discharged then the creditor is entitled to be paid the same dividend (% of debt) your other creditors received from your bankruptcy. You will have to pay this amount. Contact your Trustee to discuss this. If you deliberately omitted the creditor from your bankruptcy (the onus is...
Alimony or child support payments. Student loans (if you stopped being a student less than seven years ago). Debts arising from fraud. There are other debts as well, but it is best to speak with a Licensed Insolvency Trustee to discuss your exact situation.
Having financial goals is very important, and starting with savings is a great plan. We recommend starting with a savings account for emergencies. Once you’ve built up an emergency fund you can start savings for other goals like retirement, major purchases or travel! Use a financial goal calculator to help you get started.
Speak to your Licensed Insolvency Trustee to determine a course of action.
Further to FAQ 4 and 6 above it is the duty of the debtor.
No, whether you can obtain credit after your discharge from bankruptcy will depend on your ability to convince lenders of your financial maturity and ability to repay the debt. There are no guarantees, no one is required to give you credit.
Your spouse may have signed an agreement or contract either co-signing or jointly signing for liability. For example, you may have a supplemental credit card for your spouse or your spouse may be a guarantor on one of your loans. If so, your spouse is responsible for paying the balance of this debt.
