5 Stages of a Bankruptcy in Canada

Bankruptcy in Canada can be filed by any individual who owes at least $1,000 and is insolvent. The process of filing personal bankruptcy in Canada is completed in five steps as outlined in our easy to understand infographic.

  1. Consultation with a Licensed Insolvency Trustee
  2. Preparation of documentation
  3. Filing and achievement of the stay of proceedings
  4. Completion of bankrupt’s duties
  5. Discharge and elimination of debts

You may also be interested in our related infographic 4 stages of consumer proposal.

5 steps to filing bankruptcy in Canada

Similar Posts:

  1. 10 Bankruptcy Definitions You Need To Know
  2. 4 Stages of A Consumer Proposal
  3. Bankruptcy Protection in Canada: An Automatic Stay of Proceedings
  4. A Step by Step Guide to the Bankruptcy Process
  5. Insolvency Basics: Filing Bankruptcy or a Consumer Proposal in Canada

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