I would like to know if I can declare bankruptcy anywhere in Canada, or if I have to do it in the same region where I accumulated the debts? If I received a notice of legal mortgage on my house for a business line of credit debt and I declare bankruptcy, does that still release me from that debt, or is it too late? And if it's not too late, can my former business partner come after me for that same debt (we signed jointly and severally), or does that release me from it forever? Finally, do I have to be present to be discharged at the end of the nine-month period, or can it be done in my absence?
You declare bankruptcy in the jurisdiction where you conducted business or resided in the year preceding your bankruptcy.
Your business debt is dischargeable, as is any potential claim your partner may have against you.
If you are eligible for automatic discharge (first bankruptcy without objection), you do not need to be present.
Your business debt is dischargeable, as is any potential claim your partner may have against you.
If you are eligible for automatic discharge (first bankruptcy without objection), you do not need to be present.
Questions reliées
- A few weeks ago, I went to a trustee's office for an initial, informal meeting to better understand the "option" of personal bankruptcy, which I believe would be the solution to my debt problem. I didn't get all the answers I was hoping for: no written information or website was provided, and my own research in this area was unsuccessful. I pay child support to my ex-partner for custody of our two daughters. We reached an out-of-court agreement to determine the amount. Do I need to provide proof of the judgment? Who will determine what assets are subject to seizure and who will inventory them? Will the trustee be obligated to review my bank account to find "interesting expenses" over the past few months? I feel quite overwhelmed by the responsibilities that bankruptcy entails.
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