The information set out herein is of a general nature for the purpose of providing an overview of insolvency law and answering some commonly asked questions. It is not intended to, nor does it, provide legal advice with respect to specific problems. Circumstances alter cases, and you are advised to consult an insolvency lawyer for particular situations.

Some Frequently Asked Questions For Personal Bankruptcy

(For more expansive essays on the topic of insolvency see Bankruptcy Bytes)

1. When can a person go bankrupt?

2. Can my spouse go bankrupt with me?

3. Will my name be published in the newspapers when I go bankrupt?

4. What can I keep after going bankrupt?

5. Can I keep my house after going bankrupt?

6. Can I keep my car after bankruptcy?

7. Can I keep my credit cards if I owe nothing on them?

8. Will I lose my RRSPs?

9. How do I go bankrupt?

10. How do I find a trustee?

11. What are the costs of going bankrupt?

12. What will happen to any garnishment or assignment of wages when I go bankrupt?

13. Will I have to pay anything to the trustee out of my earnings?

14. Will my non-bankrupt spouse have to contribute assets or income toward my creditors?

15. How do I get discharged from bankruptcy?

16. Do all my debts get wiped out by bankruptcy?

17. Is my student loan discharged by bankruptcy?

18. Will bankruptcy help me get rid of obligations under a separation agreement, matrimonial judgement or order?

19. After I go bankrupt but before my discharge, what happens to any property I may obtain, such as legacies, lottery winnings, and tax refunds?

20. Am I under any disabilities while an undischarged bankrupt?

21. How does bankruptcy affect my credit rating?

22. Will I ever be able to buy a house?

23. Are there alternatives to bankruptcy?

24. Do I have to list all of my creditors when I go bankrupt or make a proposal?

25. Can I pay any of my creditors after bankruptcy?

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