Fraud Blocker

Web Design

Your content goes here. Edit or remove this text inline.

Logo Design

Your content goes here. Edit or remove this text inline.

Web Development

Your content goes here. Edit or remove this text inline.

White Labeling

Your content goes here. Edit or remove this text inline.


Bankruptcy trustee in Montreal

Facing personal or business bankruptcy is always difficult.

However, if you are accompanied, this period can be less painful.

This is where we come in.

Bankruptcy trustee in Montreal

With our advice, you may even be able to turn things around and hope for a more favorable outcome. If you live in Montreal and are facing financial difficulties, we can help.

Why declare bankruptcy?

Declaring bankruptcy can be a difficult decision. However, it can offer significant benefits in freeing you from an overwhelming financial burden. First of all, it frees you from most of your debts. This means considerable relief from the financial burden, enabling a fresh start.

What’s more, you can keep your home, vehicle and certain investments during and after bankruptcy. This offers a degree of stability, and enables important assets to be maintained despite insolvency proceedings.

A declaration of bankruptcy puts an immediate stop to any legal action, wage garnishment or collection measures against you. This gives you a much-needed break to regain your financial footing.

The costs associated with personal bankruptcy are generally based on your income, making it more suited to your financial situation. Finally, the process varies in length, from nine months to three years, depending on your income level and any previous history. This may seem like a long time. Nevertheless, it offers the prospect of gradual financial restructuring. This usually leads to a fresh start after a difficult period.

Our role as trustees in bankruptcy

As a licensed insolvency trustee, our intervention is crucial when you’re facing financial difficulties. We support you throughout the insolvency process. First, we take a close look at your financial situation. We then present you with all the possible solutions for eliminating your debts. This comprehensive diagnosis is offered without obligation, leaving you free to choose the path that suits you best.

We then work closely with you to prepare and present the required documents to your creditors. Whether it’s a consumer proposal or a bankruptcy declaration. We take care of filing these administrative documents.

Our role doesn’t stop there. We can act as intermediaries with your creditors. We inform them of your bankruptcy situation or your consumer proposal. Our goal is to protect your interests while working with creditors to effectively administer your proposal or bankruptcy.

We’re here to help!

We oversee the management of your consumer proposal or bankruptcy. During this process, we offer you two mandatory consultation sessions. These sessions cover crucial topics such as budget planning and how to rebuild your credit. This is an integral part of the financial turnaround process and is designed to give you a better financial future.

Schedule a meeting with one of our



Without commitment. Confidential.

Do you have any questions? We have the answers.

Can I go bankrupt?

To file for bankruptcy, you must be a Canadian citizen, have a Canadian address and have more than $1,000 in debts. You must be insolvent, which means that you are unable to pay your debts as they become due.

When to declare bankruptcy?

You decide when, however, there may be important signals that it is time to take action:

  • You’re constantly being called by collection agencies, even at work;
  • A lender or the government has garnished your wages;
  • Your bank account is frozen or seized;
  • Your debts are the main topic of conversation in your relationship, or they create divergence;
  • Your debts affect your sleep or your health;
  • You need to borrow from family or friends to meet your obligations.

You always choose when, but you can do it before you get there.

If I go bankrupt, what happens to my property, my furniture?

The law allows you to keep up to $7,000 of the current market value of your personal property. In fact, in most cases, your trustee will evaluate your belongings and agree with you that you can keep all your furniture from your main residence as well as your clothing necessary for everyday life.

Your RRSPs are also exempt from seizure for contributions made more than twelve months before the bankruptcy.

What is the impact of a bankruptcy on my credit report?

Contacting a member of our team to have your situation evaluated does not affect your credit rating. This myth is false: it’s only when the bankruptcy process is triggered that this will be the case, not before.

However, once the process has begun, abankruptcy will result in an R9 rating on your credit file, and this rating will remain not only during the bankruptcy period, but also for six years after your discharge. What’s more, your credit rating is already affected if you’ve been having trouble repaying your debts for some time, or if you’re subject to recourse by your creditors.

What is the alternative to personal bankruptcy?

A consumer proposal is an option to consider. If your debts are less than $10,000, you can also consider a voluntary deposit.

A licensed trustee will be able to agree with you on the best option.

Who are the creditors?

There are different types of creditors:

  • Secured creditors :
    • A hypothecary creditor (e.g. mortgage on a house);
    • An instalment sale (e.g. car financing);
    • Reservation of title;
    • A rental and a buy-back;
  • Ordinary creditors :
    • Any other creditor who does not have a security interest to publish against one of your assets:
      • A personal loan;
      • A line of credit;
      • A credit card;
      • Taxes;
      • Goods and services;
    • Creditors who retain their recourse despite bankruptcy or a consumer proposal:
      • A secured creditor, if you keep the property;
      • Alimony;
      • A parking ticket;
      • Overpayment of employment insurance or income security benefits;
      • A criminal judgment;
      • A student loan if you completed your studies less than 7 years before submitting your application.
What's happening to my spouse and children?

They are not affected by your bankruptcy unless the debts are joint. In this way, your spouse becomes responsible for all joint debts.

What happens to my house if I go bankrupt?

If you are no longer able to pay your mortgage, your bank can take it over and sell it.

Several other contexts may exist and we advise you to consult us to discuss them.

Can I keep a credit card in bankruptcy?

No. As a bankrupt you cannot apply for or incur credit.

Still haven’t found an answer to your concerns? Your first consultation is free, don’t hesitate.

All our solutions

Do you want to take control of your finances and leave with your head held high?
We are here to accompany you through this ordeal.

Declaration of bankruptcy

Get out of debt
and get back on track financially.

Consumer proposal

Avoid bankruptcy and eliminate
up to 50% of your debts.

Debt consolidation

Get a loan from a financial institution and combine all your debts into one payment.

Voluntary deposit

Also known as the Lacombe Act, voluntary deposit is a provincial legislative provision that allows you to pay your debts in full over a period of time.

Refusal of an insolvent estate

Refusal of succession is the possibility for an heir to refuse the succession, i.e. to accept or refuse to inherit the property of the deceased.

For companies

Commercial bankruptcy is a procedure established by law to allow companies in financial difficulty to restructure and continue their activities.

Nos appels et rencontres sont 100% confidentiels et une consultation n'affecte pas votre cote de crédit.