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How to File Personal Bankruptcy in Canada

 

The how to file personal bankruptcy in Canada process involves these steps:

First, you decide that you need help.  You may be able to deal with your debts on your own, or through a debt consolidation loan.

Second, you meet with a licensed bankruptcy trustee to review your options, which may also include filing a consumer proposal as an alternative to bankruptcy in Canada (in the U.S. you would need to consider a Chapter 13 Wage Earner Plan).

Your trustee will gather all required information, and then prepare your bankruptcy documents, and then you meet to sign the paperwork.  Your trustee will electronically file the documents with the Office of the Superintendent of Bankruptcy, and you are now officially bankrupt.

During the bankruptcy you are required to complete your bankruptcy duties, and your trustee will calculate your surplus income payments.

Once you have completed all duties, you will receive your bankruptcy discharge.  You can now begin the process of repairing your credit after bankruptcy in Canada.

 

 


Posted by Editor Bankruptcy Alternatives @ 2:55 am
 

 


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