Just thinking about filing for personal bankruptcy can be an intimidating exercise. Therefore, you likely have a lot of questions that you would like answered for your own peace of mind.
Below is a list of the most commonly asked questions about the bankruptcy process. We’ve attempted to answer these questions in the most thorough but straightforward way possible.
Personal Bankruptcy in Canada – Frequently Asked Questions
- What is personal bankruptcy in Canada?
- How do I start the personal bankruptcy process in Canada?
- How much will filing bankruptcy cost me?
- What long will my bankruptcy last?
- What happens to my assets and what can I keep when I file for personal bankruptcy?
- What happens to my car or vehicle if I am financing it?
- What happens to my house when I file for personal bankruptcy?
- What happens to my income tax refund?
- Will filing for personal bankruptcy stop a wage garnishment and collection agencies?
- What happens during the bankruptcy process?
- What debts are unaffected by bankruptcy?
- Will filing for personal bankruptcy discharge student loans?
- How long will my bankruptcy remain on my credit report?
- How can I rebuild credit after I finish my bankruptcy?
- Will filing for personal bankruptcy affect my spouse or co-signer of my debts?
- What is a Licensed Insolvency Trustee?
- Who oversees the personal bankruptcy process in Canada?
- Will I have to attend bankruptcy court?
- Situations where you cannnot file for bankruptcy
- Case Study: What to expect if you file for bankruptcy
- Case Study: Understanding the Bankruptcy Discharge
- Case Study: Bankruptcy and Surplus Income