Should I keep My Bank Account During Bankruptcy in Canada?
A Licensed Insolvency Trustees might recommend that you open a new bank account prior to filing a consumer proposal or going bankrupt. Select a bank that you have never done any business with or had a credit card. Arrange to have any regular deposits changed to the new account and move your money just before the bankruptcy process. If you are considering Bankruptcy or a Consumer Proposal, please contact a Licensed Insolvency Trustee to get the advice on how to protect yourself.
MORE QUESTIONSDo I qualify for bankruptcy? How long will I be bankrupt? How much will it cost? How will my credit rating be affected? If I declare bankruptcy, will I lose everything? Should I declare bankruptcy? Will I still be responsible for some debts after filing for bankruptcy? Does Filing for Bankruptcy in Canada Affect My Spouse? What is a bankruptcy discharge and the process involved? What is the OSB and what are their responsibilities? If I file a proposal or declare bankruptcy, what happens to my credit rating? What happens if my creditors vote against accepting my consumer proposal? Can I leave some creditors out of my consumer proposal? How Do I Get a Mortgage After A Consumer Proposal? Can a student with a government student loan go through bankruptcy or get a consumer proposal?