Filing Bankruptcy in Windsor

What is bankruptcy?

Personal Bankruptcy is a legal process in which you may be discharged from most of your debts. It is regulated by the Bankruptcy and Insolvency Act. The purpose of the Act is to permit an honest, but unfortunate, debtor to obtain a bankruptcy discharge from his or her debts, subject to reasonable conditions. After filing bankruptcy, your property is given to a trustee in bankruptcy who then sells it and distributes the money among your creditors. Your unsecured creditors will not be able to take legal steps to recover their debts from you (such as seizing property or wage garnishment).

Does that mean I will lose everything?

No. Under Ontario law, most personal belongings are exempt from seizure. It’s even possible to keep your car and house!

What do I do first?

We first need to review your situation. When you call my office at 310-PLAN we will ask you a few basic questions and then arrange an in-person meeting.

At that meeting we review who you owe money to and the amounts, your income, expenses and you assets. We will also review all of your options with you including a consumer proposal, credit counselling and bankruptcy and we explain each option in detail, including what is expected of you. This meeting also allows you to ask us any questions you might have about the process.

Do I qualify for bankruptcy?

All you need is at least $1,000 in unsecured debt, being unable to pay your debts as they become due and having more debts than assets.

After meeting with us we will give you an information package to take home and read. This information package is very similar to the information you are reading on this web site.

To discuss your situation, please contact me through the form on this website, or call me in Windsor at 310-PLAN or 519-250-8060.

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