Author Archives: Bankruptcy Ontario Trustee

Consumer insolvencies in Ontario for the month of June fell to their lowest seasonal levels since June of 2006. Total consumer insolvencies (both Ontario bankruptcies and Ontario consumer proposals) fell to 3,564 in June, a decrease of 12.3% from June 2012 and a dramatic drop of 42% from their peak…

Question: My wife and I recently separated and directly after separation she filed bankruptcy. One of the creditors listed in the bankruptcy is now coming after me for the money however the bankruptcy on her end has not been finalized. Do I have any options? Answer: If the debt was…

Question: Does going bankrupt also cover your debt if its been a judgement? I have a judgement against me with no required date to pay by. I have other debts and I just cannot sleep at night. Answer: Yes, in most cases a judgement is discharged if you file bankruptcy…

Job insecurity, housing costs and mounting debts have a devastating effect on families – not only emotionally but financially. In a recent study conducted by Hoyes, Michalos & Associates, one of Ontario’s largest personal bankruptcy and consumer proposal firms, six in ten insolvent debtors were families with an average household…

The number of consumer insolvencies in Ontario in August 2012 rose 4% compared to July according to statistics released by the Office of the Superintendent of Bankruptcy Canada.   Bankruptcies were up 1% and consumer proposals were up 7%.  While insolvencies rose slightly in August, they are down overall for…

Question: I am an Ontario resident, Do I have the right to travel out of Canada if I go bankrupt? Is there any risk when I come back? I am I going to be arrested? Answer: Bankruptcy is not a criminal offense.  If you file bankruptcy in Ontario you are permitted…