Canadian Bankruptcy if you Live Abroad

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Declaring Bankruptcy in Canada while Living Abroad – The Facts

If you are a Canadian living abroad and looking to file for bankruptcy on your debts owed in Canada, can you file for bankruptcy or a proposal in Canada? The answer is maybe.  If you meet ANY of the tests below, you would be eligible.

Do you work or conduct business in Canada?

While you may live abroad, if you currently work in Canada or have a business that operates in Canada, or if you worked or had a business in Canada within the 12 months prior to filing, you would be eligible to file in Canada.

Are you resident in Canada?

You have to currently live in Canada or lived in Canada within the 12 months prior to filing to meet this test.  If you have been living abroad for more than 1 year, you would not meet this test.  You may need to reestablish your residency in Canada to be eligible to file for bankruptcy or a consumer proposal if you do not meet any of the other tests.

Is the majority of your assets located in Canada?

If you do not meet the two tests above, you may still be eligible to file in Canada if the majority of your assets are located in Canada.  Assets that you have in Canada could include land, real estate, bank accounts, and investments, just to name a few.

If you do not meet any of the three tests above, you would not eligible to file for bankruptcy or a proposal in Canada.  To assist you in understanding whether or not you meet these tests, please contact our office and we would be happy to assist you.

Declaring Canadian Bankruptcy in a Foreign Country

If you are not eligible to file in Canada, depending on the insolvency laws in the country that you are living in, you may be able to initiate insolvency proceedings that include your debts in Canada. While this option does not remove that debt back in Canada, you are protected from any collection action in the country where you filed the insolvency proceedings.  So as long as you do not intend to return to Canada, this would allow you a fresh start free of your debts incurred in Canada as well as your new country.  However,  if you move back to Canada, you would need to deal with the Canadian debts and could consider insolvency proceedings in Canada at that time.

If you are coping with debt that you are not to pay –call us at 416-498-9200 for your FREE consultation. Our caring professionals will review your finances in detail and go over all your options for getting out of debt and getting on with your life.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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So over the past few weeks I’ve had multiple contact with Christine. She was simply amazing. She helped me understand my debt and what options I had available to help relive some of my debt stress that’s affecting my own well being and my family.David Sklar and associates is simply put an amazing company and I highly recommend them to absolutely anybody needing help!
Adam Bertrand
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Christine Sylver was very helpful to my situation. No question asked, she went above and beyond just to give me the options that I need to solve my problems. She explained and made me understand my options. Thank you Christine! Everything was done in a week. Regards, to Richard Sklar for explaining everything further to me. 😊
Kris
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I was blown away by how kind and empathetic Christine and David were. I came into the process expecting to feel embarrassed, but they were so helpful and unquestionably supportive, they made the whole experience a positive thing. On top of that, Christine found a solution for me that was better than I ever could have imagined. I highly recommend Christine, David, and colleagues to anyone.
Mary M
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Christine Sylver has been very efficient in working with me in all aspects toward developing a very favourable consumer proposal which meets my financial budgeting very nicely. She also exhibited a very positive pro client attitude and was every pleasant to communicate with. Richard Sklar also demonstrated a very positive pro client attitude in explaining in detail all aspects. All great!!
Rob Hultgren
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Dealing with Christine was a real pleasure.She was very understanding professional and knowledgeable she answered all my questions.I left feeling relieved a big burden was lifted from my shoulders
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Very happy I got in touch with Jackie! She has been a great help and a pleasure to work with! I highly recommend Jackie if you need help getting out of financial debt.
Hailey Cascagnette
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I had the pleasure of working with Jackie and she made the experience very easy and was very honest which I appreciated as I was extremely nervous to go through with the process. Any questions or concerns I've had after our meetings were answered no problems and although it's been a few weeks I can honestly say I've never felt so stress-free. Very thankful for Jackie.
Cassandra Arevalo
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Very considerate of how people can sometimes make mistakes and need help to get things back on track. Great team of people. Thanks to Jacqueline for all her help.
Kevin Chase
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My mother told me about this firm because they helped resolve her situation nearly 25 years ago. I had the pleasure of working with Christine Sylver. I should’ve done this years ago but I am where I am and it is what it is. Extremely courteous, professional and understanding. I hope to never need their services again but they would be my first call! A+
Patrick Martel
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Jerry was extremely thorough and ensured that as a client, I understood all of my options and their repercussions. He offered his professional advice best suited for my situation and he is amazing at his work. Thank you Jerry! :)
Stephanie Belanger
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