Tag Archives: duties during bankruptcy

Can I Sell My Stuff Before Filing Bankruptcy?
By Billy Martell, Bankruptcy Trustee
15 Jul 2019 | Category: What You Keep or Lose | (2) comments
Assets sale bankruptcy

When you file a bankruptcy many things that you normally would not think twice about, become important subjects. One of the things that your trustee is required to do when you file a bankruptcy, is to “investigate your affairs”. Mostly, this means the trustee will ask you a lot of…

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What’s Included in My Bankruptcy Record & Who Can See It?
By Joel Sandwith
08 Sep 2017 | Category: Bankruptcy in Ontario | (2) comments
who-can-see-whats-included-in-bankruptcy

While personal bankruptcy information is publicly recorded, it’s not broadcasted like corporate bankruptcies.  There are several places where bankruptcy information can be found. 1. In your Licensed Insolvency Trustee’s files. What is included: The trustee’s client file will include notes about meetings, phone calls, copies of documents related to the filing,…

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Bankruptcy and New Credit
By Bankruptcy Ontario Trustee
12 May 2017 | Category: Bankruptcy FAQ | Leave a comment
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There are two common misconceptions about filing bankruptcy: If you file bankruptcy, you will never get credit again. If you file bankruptcy, you have to wait seven years before applying for new credit. Both of these statements are not true. It is possible to qualify for new credit following a…

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Five Steps to a Successful Bankruptcy
By Sandra Sykora, Trustee
10 Feb 2017 | Category: Bankruptcy in Ontario | Leave a comment
five-steps-to-success-bankruptcy

If you have never been bankrupt before, the minimum time set by the court to be bankrupt is nine months. This means that the court will either give you relief from your debts or discharge you from them in nine months from the date you declare bankruptcy. This is all…

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Credit Counselling Provides Budgeting Tips
By Joel Sandwith
10 Jun 2016 | Category: Bankruptcy in Ontario | Leave a comment
budgeting credit counselling

Most people who have financial issues do not have a budget and this is a common theme that comes up during the credit counselling sessions every bankrupt has to attend during their bankruptcy. Making a budget is perceived as a difficult and time consuming task.  Initially it can be but…

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Appearing At A Creditors Meeting in A Bankruptcy
By Howard Hayes, Bankruptcy Trustee
13 May 2016 | Category: Bankruptcy in Ontario | Leave a comment
credits meeting bankruptcy

One duty of a bankruptcy is to attend a meeting with your creditors if one is required. The statement gives the instant impression that you’d have to go to a board room somewhere and sit in a room with a representative from each of the places you owe money to. …

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Understanding Bankruptcy Fees
By Rebecca Martyn, Trustee
12 Feb 2016 | Category: Bankruptcy in Ontario | Leave a comment
bankruptcy fees

Bankruptcy is a legal process designed to help the honest, but unfortunate debtor find debt relief. By filing for bankruptcy and completing all of your duties, you can eliminate most of your debts and get the fresh start you need to move forward. Many people are surprised to learn that…

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What Happens If I Change Jobs While I’m Bankrupt?
By Joel Sandwith
11 Dec 2015 | Category: Bankruptcy FAQ | (10) comments
bankruptcy job change

You have taken the big step.  You realized you were having financial difficulties, you visited the trustee and now things are going along quite well. Until you find out that you have a career prospect in another city or even another province. You may find out you are losing your job or that you’ve been offered…

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7 Canadian Bankruptcy Terms You Should Be Familiar With
By Bankruptcy Ontario Trustee
14 Aug 2015 | Category: Bankruptcy FAQ | Leave a comment
bankruptcy definitions

There are many new terms you will be introduced to when you start exploring the Canadian bankruptcy process. If you’re considering filing bankruptcy in Canada the following are the most common terms your trustee might mention during your initial consultation and what they mean: 1. Bankruptcy Trustee First of all, let’s…

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Why You Should Complete Your Bankruptcy
By Ted Michalos, Bankruptcy Trustee
05 Jun 2015 | Category: Bankruptcy in Ontario | Leave a comment
bankruptcy discharge complete

I can’t stress the importance of this statement enough: It is critical that you complete the bankruptcy process once you begin it and get your discharge. There are few options for changing your mind once you have begun and they all involve paying more money back to your creditors. I…

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