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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Very knowledgeable, helpful and fast service
Anthony Mcfeat
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I am so delighted to have found this company. They are the best. Everyone in the office is very nice never to busy to assist you. Thank you David Sklar and Shirley and associates for being you. 😊🌺😊
Deborah
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Trina was amazing and quick. No judgement was made and they all made me feel I made the right decision. Would highly recommend them
Crystal Minaker
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Trina was very easy to work with. Any questions I had were answered promptly. What seemed like a complicated process was explained in a clear manner that wasn't at all intimidating. It made for a more comfortable experience during a turbulent time.
Eldon Aubie
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Jackie is very professional...I would recommend David Sklar to anybody especially knowing how understanding they are.
Kimberley Lyder-Niles
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I had Shirley and Kim take care of my finances. From the very first moment I spoke with Shirley I could sense how caring, professional and patient she was. She was also very understanding with my lack of financial knowledge and never made me feel dumb as some other companies have.Her and Kim were always very quick to respond to emails, always available if I called and answered my abundance of questions in such detail that I now believe I have a thorough understanding of how finances work. I am hopeful about my fresh financial start and very grateful I had the privilege of meeting and working with these two beautiful women.I also spoke briefly with Richard over zoom and he to was extremely friendly, patient and made sure I was well taken care of.I could not recommend David Sklar and Associates more. Thank you again.
Shayleen Muzi
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Good professional team! Jennifer is the best, helped me through everything and answered all my questions. Made the process easy! Would recommend Jennifer and the team at David Skylar.
gary round
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Christine and her team are amazing and professionals. I called for help and she responded right away to help me.thank you and I really appreciated for everything you do.
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Thank you so much for the helpYou took away the most stressful things in our lives which was our dept you guys are amazing and would recommend you to everyone
Kaitlyne Sunas
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The staff here are fantastic (Cori handled my visit) and are willing to go above and beyond to help people who need help, I recommend them 100% for people who are looking to move on in good standing.
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