Bankruptcy Duties: FAQ Video

We outline the main duties you must perform if you declare bankruptcy in order to obtain your discharge.

More information about bankruptcy law and your duties can be found in our article: Duties in Bankruptcy Law


When you file bankruptcy you receive the benefit of protection from your creditors and your debts will be eliminated, however you do have certain duties to perform to make that happen.

When you file, you must surrender to the trustee all non-exempt assets and hand over your credit cards. You get to keep certain personal assets, so you don’t lose everything.

During your bankruptcy you will be required to

  • make your payments,
  • attend two counselling sessions,
  • report your income and expenses monthly to your trustee,
  • provide necessary tax information.

You may also be asked to attend a creditors’ meeting or examination although this is very rare.

You must also let your trustee know of any big changes in your situation. If you move, or your family situation changes, you need to tell your trustee as these affect your bankruptcy.

Once all your duties are completed, you will usually be entitled to an automatic discharge which is what eliminates your debts. In most cases this happens in as little as 9 months.

At Hoyes Michalos we always explain the entire process before you file bankruptcy so you know exactly what’s required of you before you sign.

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  2. Declaring Bankruptcy in Ontario:
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  3. Do I have to go to court if I file for bankruptcy?
  4. How Long Does Bankruptcy Last?
  5. The Pros and Cons of Canadian Bankruptcy

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