Bankruptcy in Ontario

Posted on Tuesday, April 18, 2006

What happens if i don't file for bankruptcy right away in Ontario ? If i move to another province and file will the Ontario bankruptcy act apply?
What would happen if I sold off items, such as kitchen cabinets to have money to live?

1 Comments:

At 9:03 PM, J. Douglas Hoyes, CA, Trustee said…

The Bankruptcy & Insolvency Act is federal legislation; it applies in all provinces, so if you moved out of Ontario to another province in Canada, you could still file for bankruptcy. Since you are allowed to keep basic personal items while you are bankrupt, you are allowed to sell those items prior to bankruptcy to survive, provided they do not have significant value. Feel free to contact an Ontario trustee for more information.