Filing for bankruptcy involves several steps: 1. Consult a Licensed Insolvency Trustee (LIT): An LIT assesses your financial situation and explains your options.2. Complete the Required Paperwork: The LIT helps you file the necessary forms and documentation.3. Notify Creditors: Your LIT informs your creditors about your bankruptcy filing.4. Attend Financial Counseling: Participate in two mandatory counseling sessions to improve your financial literacy.5....

Obtaining a credit card after bankruptcy is a key step in rebuilding your credit. The timeline for getting a new credit card depends on your financial progress and the type of card you apply for. 

Filing for bankruptcy results in an R9 rating, the lowest possible credit score rating in Canada. This indicates that you have declared bankruptcy and failed to meet your financial obligations. 

In Canada, personal income tax debt can be included in a bankruptcy filing. This provides relief from overwhelming tax obligations and stops collection actions by the Canada Revenue Agency (CRA).

In Canada, child support payments are not dischargeable through bankruptcy. This means you are still required to pay any outstanding and ongoing child support obligations even after filing for bankruptcy.

Insolvency refers to a financial state where an individual or business is unable to meet their debt obligations as they come due. It is not a legal process but an indicator of financial distress. 

Eligible debts that can be consolidated include: credit cards, consumer loans and public utilities. Ineligible debts include: mortgages, student loans, along with others.

There is a small application cost, as well as the 5% monthly interest accrued during the repayment term.

Whether you qualify completely depends on the creditor you are contacting and the plan you present to them. Important factors such as the length of the repayment term and the amount of debt you have will impact their decision to accept or decline your proposal.

A discharge releases you from the legal obligation to repay the debts you had as of the date you filed for bankruptcy, except for specific types of debts that are excluded by the law.