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How does bankruptcy work?
Get familiar with the process and the people involved, from filing through discharge.
Understand the systemA Canadian bankruptcy reference
Make sense of
bankruptcy in Canada.
Understand the system. Put the rules in context.
Find the questions worth asking next.
A place to begin
Understand the essentials.
The framework, the people
and the process.
Find your starting point
You don’t have to understand
everything at once.
Begin with the question that brought you here.
02
What else can I consider?
Compare debt options by the debts they address, their requirements and their effects.
Compare the options03
Which rules affect my situation?
Separate the national framework from the provincial context before drawing conclusions.
Put the rules in contextStart with what you know
Make sense of
what you owe.
A pile of statements can make it hard to know where to begin. A credit card balance, a financed car and a tax notice can raise different questions. Putting a name to those differences gives you a more useful starting point.
Learn how to organize debts by security, legal ownership and type. Keep the documents behind each entry, mark what is uncertain, and use that clearer picture when you compare your options.
Make sense of your debts Explore the debt options
One system. Important distinctions.
The big picture.
And the details
that change it.
Canadian bankruptcy has a federal framework. Provincial rules, the type of debt and the person or business involved can all shape the questions you need to ask.
Our reference brings those pieces together, with links to the official sources behind the explanation.
Understand which rules applyA connected view
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Federal frameworkProcess, roles and legal effects
02
Provincial contextRules to check where you live
03
Your particular factsDebts, assets and legal ownership
A way to organize questions,
not a decision about your eligibility.
From the reference library
Go a little deeper.
Debts and assets
Classify debts by security, borrower and legal treatment
An account-by-account inventory for understanding creditor rights.
Read the guide : Classify debts by security, borrower and legal treatmentThe system
Who does what in a Canadian bankruptcy file
A role and document map for navigating an insolvency file.
Read the guide : Who does what in a Canadian bankruptcy fileCompare options
Compare bankruptcy and a consumer proposal on the same facts
A structured comparison using consistent inputs and explicit assumptions.
Read the guide : Compare bankruptcy and a consumer proposal on the same factsOne clearer conversation
Feel more prepared
for the next step.
Not knowing the words can make a difficult conversation harder. You do not need every answer before you begin. A few organized questions can help you explain what is happening and understand what you hear.
Find out who does what in the insolvency system, gather the records behind your questions and learn how to verify a Licensed Insolvency Trustee. You choose whom to contact and what to ask. These resources help you prepare.
Get ready to find a trustee Understand who does what
Know what you’re reading
Clear explanations.
Sources you can follow.
BankruptcyCanada.ca is an educational publication. We explain the system and link to Canadian primary sources so you can explore the detail.
We are not a Licensed Insolvency Trustee or a government service. Your circumstances need an individual assessment.
Read our editorial approachFollow the source.
Federal legislation. The Office of the Superintendent of Bankruptcy. Provincial authorities.
Source links sit beside the explanations and at the end of every guide.
Meet the roles in the system