Filing bankruptcy in Ontario is a legal process that can only be completed by a licensed trustee in bankruptcy. As part of the bankruptcy process, your licensed trustee in bankruptcy will help you prepare a budget and provide credit counselling to improve your money management skills.
Filing personal bankruptcy in Ontario ends your legal obligation to pay your unsecured creditors and gives you a way to become discharged of your debts.
A Welker & Associates licensed trustee will work with you to prepare your initial filing documents. Here is the information you will need to start:
A complete list of your creditors (recent bills or statements are preferred)
A complete list of all your assets with statements if possible. This includes:
Stocks
Bonds
RRSPs
Real estate property
If married or common-law, a copy of your most recent paystub and your spouse’s
Legal identification such as a Canadian birth certificate, Passport or Canadian citizenship card
To find out if filing personal bankruptcy is right for you, set up a free consultation with a Welker & Associates licensed trustee. Welker & Associates has offices throughout southwestern Ontario where we can help you begin working towards resolving your debt issues.
Remember, no one wants to file for bankruptcy, but a plan to resolve your debt issues is the first step to getting back on track.
