Navigate the journey of filing for bankruptcy in Canada. Learn more about what to expect from your initial consultation with a Licensed Insolvency Trustee to the final discharge of your debts. Understand the legal requirements, including filing paperwork, attending credit counselling sessions, and reporting your income. Discover what happens to your assets and debts during bankruptcy. Get information on the length of the bankruptcy process, factors that can affect its duration, and the differences between first-time and repeat bankruptcies. Learn about your responsibilities during bankruptcy, such as making payments and attending creditor meetings. This section provides a comprehensive overview to help you prepare for and understand each stage of the bankruptcy process.
Quick Guide Link: Short on time? Our How to File Bankruptcy Guide offers a step-by-step summary.
Thinking about filing for bankruptcy? Schedule a free consultation with Hoyes Michalos. Our Licensed Insolvency Trustees will walk you through each step, ensuring you’re fully informed and prepared.
If you are considering divorce and carrying a lot of debt, it's important to be strategic with your finances. This post explains what happens to your marital assets, joint debts, and whether you should file an individual or joint bankruptcy or proposal before or after a divorce filing.
Explore the process, consequences, and alternatives to declaring bankruptcy in Canada. Learn about debt elimination, credit impact, and how to rebuild your financial future.
There are a lot of misconceptions surrounding why someone is driven to file for bankruptcy. In this post, we share a realistic sequence of events that leads someone down a path of financial instability and into our office for debt relief. We also explain what you can expect when you declare bankruptcy.
Ideally, in your 40s, you want to prepare for your transition into retirement. But being burdened with debt at this age can hold you back from building any meaningful wealth. Luckily, there are debt relief options available to help you take control of your future.
Consumer proposals and bankruptcy can now be filed entirely online. Learn how trustees are using video calls and digital signing to help Canadians overwhelmed with debt.
Have you heard of an examination of bankrupt? If you are thinking of filing for bankruptcy you may be subjected to this legal proceeding. Find out everything you need to know and why there is usually nothing to be concerned about.
A creditor’s meeting in a bankruptcy is rare, but it is still important to know what they entail if it happens to you. This blog offers an easy-to-understand explanation of typical creditor’s meetings.
Curious how bankruptcy works? Our detailed guide explains what happens when you file, how it affects your debts and assets, as well as what you need to do to declare bankruptcy.
Do you have unpaid debts in Canada, but are currently not living here? Our experts explain the requirements for declaring bankruptcy when you no longer live in Canada and what happens if you don’t file.
Have you filed for insolvency, and your finances have changed for better or worse? Learn about the personal situations where you can switch from bankruptcy to consumer proposal, and vice versa.
Have you recently filed for bankruptcy, and are curious about the process of bankruptcy court? Learn about what you can expect in this proceeding, and everything you can do to properly prepare yourself.
Filing for bankruptcy may bring up feelings of embarrassment, and it’s understandable if you don’t want everyone to find out about it. So, who can find out if you've filed bankruptcy? Doug Hoyes explains.
We strongly suggest opening a new account when you file insolvency, especially if you owe money to the bank where you have a deposit account. We explain how to open a new account and why this is important.
It is mandatory to file insolvency through a Licensed Insolvency Trustee in Canada. Find out all the information you’ll need to provide for them, as well as the documents required to file bankruptcy.
It is possible for a creditor to oppose a bankruptcy discharge. What does a discharge hearing look like and how does the trustee, creditor and bankrupt prepare for this meeting.
Are you trying to navigate overwhelming debt and considering filing for bankruptcy for a fresh financial start? Did you know there may be an optimal time for you to file? Doug Hoyes explains.
Bankruptcy tends to be a smooth process, however on rare occasions a creditor can challenge your bankruptcy discharge. Learn the basics of what a creditor opposition means for you.
If you are considering filing for bankruptcy, you should be knowledgeable on the entire process. Here is our comprehensive guide on the steps to file bankruptcy in Canada.
Did you know that we advise 90% of clients that call our debt help line to not file bankruptcy? We explore step-by-step how our process works using a client story, to give you an idea of how we treat all our clients.
In rare cases, creditors can oppose your discharge from bankruptcy. So, what do you do? In this blog, we’ll explain the process of creditor opposition, how we’ll help and how to avoid this entirely.
Bankruptcy is a legal process and in rare situations you may need to attend bankruptcy court. Find out when this can happen and what you should do if this is a requirement before your discharge.
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