Bankruptcy in Canada

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“Deciding to declare personal bankruptcy in Canada is a scary choice. Understanding what bankruptcy is about and what it means to go bankrupt makes the decision easier.”

Bankruptcy in Canada is a legal process to deal with your debts, administered by a trustee in bankruptcy. The purpose behind bankruptcy is to eliminate your debts and give you a fresh start.

Personal Bankruptcy In Canada

Deciding to file for bankruptcy is a difficult decision. When making the choice to go bankrupt, you need to be sure that bankruptcy is the right choice for you and if it is, what is involved in the process of filing for bankruptcy. To help you with this decision, the trustees at Bankruptcy Canada have put together these additional articles about bankruptcy, what it costs and how it affects you and your family.

What is Bankruptcy?

Everything you should know about bankruptcy in Canada. What it is. The benefits.
[do action=”cta-link” link=”/bankruptcy/what-is-personal-bankruptcy/” ]About bankruptcy.[/do]

Causes of Bankruptcy

Knowing the causes of bankruptcy may help you identify financial problems early.
[do action=”cta-link” link=”/bankruptcy/causes-of-bankruptcy/” ]Are you at risk?[/do]

Should I File For Bankruptcy?

Bankruptcy is not for everyone. Learn when declaring bankruptcy makes sense.
[do action=”cta-link” link=”/bankruptcy/should-i-file-for-bankruptcy/” ]Should you file?[/do]

What is a Trustee in Bankruptcy?

A professional trustee will explain all your debt relief options, not just bankruptcy.
[do action=”cta-link” link=”/bankruptcy/what-is-a-trustee-in-bankruptcy/” ]Trustee as debt advisor.[/do]

The Cost of Bankruptcy

Bankruptcy is not free. Learn about the three costs of filing bankruptcy in Canada.
[do action=”cta-link” link=”/bankruptcy/cost-of-bankruptcy/” ]What does it cost?[/do]

Bankruptcy Exemptions

It is a myth that bankruptcy is meant to be punitive. You will not lose everything.
[do action=”cta-link” link=”/bankruptcy/cost-of-bankruptcy/” ]What you keep.[/do]

Bankruptcy Statistics

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Every year hundreds of thousands of Canadians file for bankruptcy in Canada. See who files bankruptcy across the country.

[do action=”cta-link” link=”/bankruptcy/bankruptcy-exemptions-what-you-keep/” ]Canadian Bankruptcy Statistics[/do]

If you are thinking of filing personal bankruptcy in Canada, your next step should be to contact a trustee in your area to discuss your personal situation. It is important when you are considering bankruptcy to know that bankruptcy is not your only option. There are alternatives to bankruptcy that may give you similar relief from your debts but are better suited to your particular situation. One such alternative is a consumer proposal to creditors. Your trustee will help you decide if personal bankruptcy is the right option for you. There are many reasons why you may need to file bankruptcy but bankruptcy may not be your best solution.