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How to File Bankruptcy in Canada   arrow

One of the world’s greatest financiers and world’s richest men, W.B. is reported as saying that the most important thing to do when you find yourself in a hole, is to “Recognize where you are and stop digging.” This sounds ridiculously simple, but knowing when to stop and when to consider a significant change and seek professional help or consider filing for bankruptcy, is difficult to do. In order to do so, you have to believe that your financial situation is serious and you can’t make it on your own.

For most people in Canada, the prospect of having to file bankruptcy is not their first choice. It is important to recognize however, that a bankruptcy filing may be one’s best and sometimes only option.

Almost every client we have that decides to file bankruptcy in Canada says exactly the same thing, and that is, “I wish I would have filed bankruptcy sooner!” As a general observation, our Bankruptcy Trustees see that people don’t seek our help to file bankruptcy until they have beaten themselves up emotionally and once they make a decision to file bankruptcy, and see how quickly the stress dissipates, they beat themselves up again for not filing sooner. Hindsight is, of course, 20/20.


Our presentation on how to file bankruptcy in Canada details six steps in the bankruptcy process from the first contact with a bankruptcy trustee to registration of bankruptcy documents and notification of creditors.

Learning how to file bankruptcy is the easy part. Deciding whether a bankruptcy is the right option is more complicated and we encourage you to find out more. We offer clear explanations and practical solutions to debt relief with free, no obligation consultations in a relaxed environment.


As you might expect, there is more to filing bankruptcy than notifying your creditors and registration of paperwork and documentation. In return for forgiveness of your debts, the Federal Government, specifically the Office of the Superintendent of Bankruptcy, imposes a series of duties you MUST complete while bankrupt, the principal obligations are outlined in a Power Point Presentation:

See our cost to file bankruptcy page to see the other factors which affect the overall cost of filing bankruptcy. Our Bankruptcy Trustees can be reached by selecting one of the local offices or meeting locations or by e-mailing us.