The Bankruptcy and Insolvency Act requires that all Bankruptcies be filed by a Licensed Insolvency Trustee.

Bankruptcy services are not provided for free. If you are filing for personal Bankruptcy but aren’t financially able to afford the cost, there is a Bankruptcy Assistance Program available through the federal government's Office of the Superintendent of Bankruptcy that may help.

Initiating Bankruptcy proceedings may be appropriate if you’ve considered all your other debt-relief options. If you cannot pay your debt as it comes due and the net worth of your assets is less than the total amount of your debt, Bankruptcy may be an option.

These terms do not mean the same thing. Bankruptcy is a formal legal process whereby you assign your non-exempt assets to a Licensed Insolvency Trustee to be relieved of your unsecured debts. Insolvency is a term that means you are unable to pay your debts as they come due, or your total assets are worth less than the amount of your debt. You must be insolvent to file for Bankruptcy but you are not automatically Bankrupt just because you are insolvent....

Bankruptcy is a legal process that provides immediate relief from your unsecured debt burden, the most common example being credit card debt. It is important to note that certain types of debt are not wiped out or addressed by declaring bankruptcy, which means it's not necessarily an all-encompassing solution for your financial challenges.

Filing for Bankruptcy should not affect your job. Some professional bodies may require you to disclose your Bankruptcy. If you’re bonded in your current position, you may want to contact your human resources department to confirm if there will be any impact on your job/duties.

Once you file for Bankruptcy, the Licensed Insolvency Trustee must notify all your creditors. The Canada Revenue Agency, credit reporting agencies and the federal government's Office of the Superintendent of Bankruptcy will also be informed. A Bankruptcy is a matter of public record with the federal government's Office of the Superintendent of Bankruptcy, and it will appear on your credit report. Your employer is not usually notified unless the...

You can find all forms in our Forms section. Please keep in mind we do not require you to fill these out before your appointment. If you have any questions about any of the forms, feel free to contact us .