When I get an email from someone in Chatham, it often is just a simple question: How do I file for bankruptcy? The answer though is a bit too in-depth for an email so I thought I would summarize the steps here.
1. You need to call our office at 519-351-2323 or 310-PLAN to set up a no charge meeting. It is better to do this via phone so we don’t go back and forth for days on email trying to get a time that works for your schedule. When you call we just need general information such as approximately how much you owe, your income and what assets you have.
2. At this meeting we will review all of your options to deal with your debt including debt consolidation, credit counselling, consumer proposal and bankruptcy.
3. Together, we gather all of the necessary paperwork to complete the fresh start application form. This includes information such as your creditors, income, expenses and details on what you own such as a house or car.
4. We complete the bankruptcy paperwork and you return to our office to sign the documents.
5. Once the paperwork is signed we electronically send it to the Office of the Superintendent of Bankruptcy and you are officially bankrupt. You are on your way to your fresh start.
6. During the bankruptcy process, you complete a series of duties which includes making payments, attending two credit counselling sessions, providing tax information and submitting monthly income and expense reports.
7. If you perform all of your duties, and if no creditor objects, you are automatically discharged at the end of your bankruptcy period (which is 9 or 21 months in a first bankruptcy, or 24 or 36 months in a second bankruptcy, depending on your income).
Of course, the bankruptcy process can’t fully explained in a one page article, so I suggest you contact me to set up a meeting. I would be happy to meet with you to discuss your situation.
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