Canadian Bankruptcy if you Live Abroad

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 and live in the Toronto area, call us at 416-498-9200 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. 

Share This!

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on pinterest

Ready to live debt free?

The best decision I've made was to contact David Sklar & Associates, they are experts in this matters and also have dedicated Licensed Counsellors that provide the best customer support, like Rhoda Lewis, who I highly recommend. She worked tirelessly on my case, explaining ever detail to me willingly. She demonstrates a true interest in her clients. I appreciate how she patiently walked me through what to do, step by step. I now have control over my finances, as a result my life is much more peaceful and I can focus on what matters. Thank you!
Nilda H.
20:18 16 Jun 22
Very helpful and friendly! I am more than satisfied with my experience here. And more than happy with the outcome! Would definitely recommend .
Peggy Bulger
15:10 14 Jun 22
Jerry at David SKLAR helped me thoroughly understand my options and made me feel at ease. If you are looking at this type of service/help, I 100% recommend you give them a call.
Colleen H
12:50 14 Jun 22
Rhoda is a wonderful person, She help me and guided me throughout the process. I couldn’t do it without her support and expertise. Now I can start fresh and full of hope of a better life ahead of me.
ariezel erandio
21:33 06 Jun 22
The service I recieved from David Sklar and Associates was great. I was able to meet with Christin Sylver. She is kind, understanding and, professional. She was able to answer all the quesions that I had regarding my debt. At the end of our meetings, I felt that there is a heavy burden lifted from my shoulders. I recommend Chistine to anyone who is looking into debt relief.
Aliya H
12:11 04 Jun 22
Jerry is a very patient person, he answered all my questions and made this experience so smooth and easy for me. I was not sure what to expect but dealing with him made me feel so much better. He sure knows what he is doing and how to put people at ease for sure (should have done this long ago). I recommend him to anyone I am so glad I had him on my side and now to do my part. Thanks Jerry ur greatPattie
Patty Murphy
21:34 18 May 22
Rhoda Lewis helped me achieve a fresh start two and half years ago! She was very professional with a very warm, caring personality! I emailed her today with a question and she responded quickly. She's great at her chosen profession!!
Debbie Livingston
01:24 11 May 22
Nothing but good things to say about Jackie. She was so nice and so understand and everything was so quick and easy. In a matter of a week, there was the solution that I never thought was possible. Thank you so very much for everything that you have done. ❤️❤️❤️
Cassandra Keenan
21:05 10 May 22
I was in a lot of debt and stress, Jackie Stanley with David Sklar & Associates was very professional, and extremely helpful with getting out of debt. I should of did this sooner, they take the all the weight and stress of a persons shoulders, amazing team at David Sklar & Associates!!
Hubert Z
03:08 10 May 22
Jackie helped me out during a really tough time and she made the entire process very easy and painless. I highly recommend reaching out to her if you find yourself in any financial trouble. You won’t be disappointed!
prettylush 13
02:42 10 May 22
js_loader