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Bankruptcy Canada Information. Licensed Insolvency Trustees - Consumer Proposals.

Welcome to Bankruptcy Canada. We help people get a fresh financial start!
We have been online since 1999 and have 436 trustee offices in every province and territory in Canada.
Your questions about bankruptcy and consumer proposals will be >> answered here. << Your privacy and data are protected on our secure site.

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How bankruptcy works.

Bankruptcy law provides an honest but unfortunate debtor a way to erase his or her debts and get a fresh financial start. Certain assets are retained in order to assist in this fresh start and to preserve the dignity of the debtor.

How consumer proposals work.

Filing a consumer proposal with your creditors allows you to erase your debts and to keep your assets by making payments that you can afford, without filing bankruptcy. You could end up paying 50% of the debt or perhaps only 30%.

Cost of a bankruptcy and how long you will be in bankruptcy.

Our bankruptcy predictor will give you the cost of your bankruptcy and how long you will be in bankruptcy.

Debt Calculator.

Debt repayment calculator. Four options to repay your debts while avoiding bankruptcy.

Frequently Asked Questions.

Our FAQs will answer most of your questions.

Assets you keep in a bankruptcy or a consumer proposal.

Your province or territory sets the equity in assets you can retain in a bankruptcy or a consumer proposal. One of the major tenets of Canadian bankruptcy law is that a person deserves a fresh financial start. Retaining some of your assets assists in that fresh financial start.

Debts that are NOT erased in a bankruptcy or consumer proposal.

The vast majority of people who go into bankruptcy have all their debts erased.

Questions? Ask a Trustee anonymously.

Your identity is protected and we answer your questions within one business day.

Canadian credit counsellors.

I have heard that credit counsellors are the best experts to use when a person has a financial crisis.

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Bankruptcy = A Fresh Start.

One of the main goals of insolvency law in Canada is to allow an individual or business who is trapped in a cycle of debt, an opportunity to receive a fresh financial start by eliminating the debt they owe, such as credit card debt and personal loan debt. Almost all debt is eligible to be erased when declaring bankruptcy with the help of a government licensed bankruptcy trustee. If you are interested in filing for bankruptcy contact our team for a free consultation:

We will answer all of your bankruptcy questions such as what is bankruptcy and how can I file bankruptcy?

Bankruptcy Canada is the largest Canadian Bankruptcy Trustee network.

By browsing our website and contacting a trustee in your area to arrange a risk free, no obligation evaluation review meeting in a confidential setting you will have a good understanding of what the law allows. You can visit our FAQ's, where we have the answers to our most common questions, or visit our Ask a trustee section to view other questions people like you have asked, or ask your own question in confidence.

You can contact one of our local insolvency trustees in confidence today to discuss your debt relief options.

This website has a listing of the bankruptcy exemptions for each province and territory so you will know what assets you can keep if you decide to file personal bankruptcy. Under a personal proposal your assets can be protected from seizure even if they are not listed under the exemptions.

When you feel comfortable with seeing an Insolvency Professional we have a listing of Trustees in all provinces, who will provide a NO OBLIGATION + CONFIDENTIAL Consultation Meeting where you can discuss your finances in confidence with a trustee, either over the telephone or in person at the trustee's office. provides advice and tips for improving your Credit Ratings and how you can get a FREE and CONFIDENTIAL credit report.

We also have tips on how to get a credit card after you are discharged and how to re-establish your credit. We have a list of Lenders who will give serious consideration to your loan application, knowing you have completed bankruptcy or a proposal.

Bankruptcy in Canada

If you are looking to file bankruptcy in Canada you need to speak with a trustee in your local area to have a full understanding of how going bankrupt or making a personal proposal can help you with handling your debt. Whether you have a little bit of credit card debt or a massive amount of unsecured debts our local trustees can assist you.

All of our local trustee offices have experienced, friendly and knowledgeable insolvency experts who can help you make a plan for getting out of debt.

By going bankrupt or making a proposal to your creditors it is possible for you to get your debts under control legally and ethically. The Bankruptcy and Insolvency Act regulates the rules and regulations surrounding bankruptcy. The fees that a trustee can charge for insolvency services is set by the government.

Your debt does not have to control your life any longer. You can call us today or fill out our confidential evaluation form to get in touch with a trustee in your area today.

Are you:

Spending more money each month than you make?

Are you paying off one credit card with another credit card?

Are your creditors harassing you at home and / or work?

Are you facing stress at work and / or home because of your debts?

Are you having your wages garnisheed?

If you are facing any of these situations you could be in need of the services of an insolvency trustee. You can contact us now to learn more about your options. You can schedule a personalized bankruptcy and debt relief evaluation meeting with one of our local partner trustees to discuss your debt in confidence.

If you are struggling with debt you might believe that going bankrupt is your only option, however there are many alternatives to bankruptcy that could be available to you. Based on your personal finances, we can help you tackle your debts, and come up with a debt solution that is better suited to your unique financial challenges. For example, the trustee might help you determine that making a proposal to your creditors is a better way of becoming debt free than going bankrupt.

People might consider a consumer proposal if they have assets that are not protected by the bankruptcy exemptions, and which would therefore be seized in a bankruptcy, or for many other reasons.

Consumer Proposal

Deciding to file a consumer proposal with your creditors means that you will enter into an agreement to pay some, or possibly all, of your unsecured debts through monthly payments over a time period of up to a maximum of 5 years.

A consumer proposal is appealing for people who have a professional accreditation that might be in jeopardy in a bankruptcy, have assets they want to protect or who feel that paying off their debts “is the right thing to do” but they need a little bit of protection and assistance from a trustee.

Personal Bankruptcy

Bankruptcy is a legal process that allows a person with financial problems a fresh start. You can eliminate your debts and regain your financial health by declaring bankruptcy and speaking with a trustee to learn financial management skills needed to stay out of debt.

Going bankrupt can wipe out your debts in as little as 9 months, giving you a quick fresh start. Anyone struggling with debt can go bankrupt. You can meet with a trustee to discuss your debts in a confidential evaluation meeting to determine if personal bankruptcy is right for you.

Once you claim bankruptcy all collection attempts and legal actions against you, such as wage garnishees are prevented by the insolvency law; your creditors will not be able to contact you or make any collection attempts at all! The bankruptcy exemptions protect the assets you own from being seized, and allows you a new start to build a fresh financial future while maintaining your pride. In order to qualify for bankruptcy you need to owe $1,000 or more, and you must be unable to pay your debts as required by your financial agreements.

When you need relief from your debt, we can guide you through the bankruptcy or proposal decision.

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