[et_pb_section fb_built=”1″ admin_label=”Banner Image with Heading and Text” module_class=”vertical-align” _builder_version=”4.16″ background_color=”#e7dff3″ use_background_color_gradient=”on” background_color_gradient_type=”circular” background_color_gradient_stops=”rgba(91,37,175,0.44) 15%|rgba(91,37,175,0) 70%” background_color_gradient_overlays_image=”on” background_color_gradient_start=”rgba(91,37,175,0.44)” background_color_gradient_start_position=”15%” background_color_gradient_end=”rgba(91,37,175,0)” background_color_gradient_end_position=”70%” background_image=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/08\/types-of-bankruptcy-in-canada_hero.jpg” min_height=”550px” bottom_divider_style=”wave2″ bottom_divider_color=”#e7dff3″ bottom_divider_height_tablet=”70px” bottom_divider_height_phone=”50px” bottom_divider_height_last_edited=”on|phone” background_last_edited=”on|phone” background_size_phone=”cover” background_position_tablet=”top_right” background_position_phone=”center_right” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row custom_padding_last_edited=”on|phone” admin_label=”Row” _builder_version=”4.16″ background_enable_image=”off” max_width=”100%” custom_margin=”||||false|false” custom_padding=”||90px||false|false” custom_padding_tablet=”” custom_padding_phone=”||80px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Heading” _builder_version=”4.16″ text_font=”|600|||||||” text_font_size=”42px” text_line_height=”1em” text_orientation=”center” background_layout=”dark” module_alignment=”center” custom_margin=”||26px|||” custom_padding=”0px|||||” animation_direction=”top” text_text_shadow_style=”preset2″ global_colors_info=”{}”]What Does Going Bankrupt Cost in Canada?[\/et_pb_text][et_pb_text admin_label=”Text” _builder_version=”4.27.2″ text_font_size=”22px” text_line_height=”1em” text_orientation=”center” background_layout=”dark” module_alignment=”center” custom_margin=”||||false|false” custom_padding=”||||false|false” animation_direction=”bottom” hover_enabled=”0″ text_text_shadow_style=”preset2″ global_colors_info=”{}” sticky_enabled=”0″]Answers and commonly asked questions[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” admin_label=”Intro Paragraph” _builder_version=”4.17.4″ background_color=”rgba(91,37,175,0.15)” custom_padding=”0px||30px||false|false” custom_padding_tablet=”||30px||false|false” custom_padding_phone=”||0px||false|false” top_divider_style_last_edited=”off|desktop” bottom_divider_color=”#ffffff” bottom_divider_repeat=”1x” bottom_divider_flip=”horizontal|vertical” bottom_divider_style_tablet=”” bottom_divider_style_phone=”” bottom_divider_style_last_edited=”on|phone” bottom_divider_height_tablet=”70px” bottom_divider_height_phone=”100px” bottom_divider_height_last_edited=”on|phone” bottom_divider_flip_tablet=”” bottom_divider_flip_phone=”horizontal” bottom_divider_flip_last_edited=”on|phone” da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|desktop” custom_padding=”0px|||||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_dmb_breadcrumbs font_icon=”%%20%%” use_home_icon=”off” use_home_text=”on” show_custom_taxonomy_crumbs=”off” _builder_version=”4.21.0″ body_text_color=”rgba(102,102,102,0.8)” link_text_color=”rgba(42,209,61,0.8)” custom_padding_tablet=”” custom_padding_phone=”20px||||false|false” custom_padding_last_edited=”on|phone” animation_direction=”left” global_module=”6437″ saved_tabs=”all” global_colors_info=”{}” link_text_color__hover_enabled=”on|hover” link_text_color__hover=”rgba(90,39,178,0.4)”][\/et_pb_dmb_breadcrumbs][et_pb_text admin_label=”H1 Heading” _builder_version=”4.27.2″ custom_margin=”||0px|||” custom_padding=”||2px|||” animation_direction=”bottom” global_colors_info=”{}”]<\/p>\n
In Canada, the cost of bankruptcy<\/strong> is at least $1,800. This\u00a0fee<\/strong> is payable to the trustee for their time. It also includes administration services and the costs associated with filing the appropriate bankruptcy forms<\/strong><\/a> with the Court. How much a trustee may charge for their services is determined by the Office of the Superintendent of Bankruptcy (OSB)<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” next_background_color=”#e4f8e0″ _builder_version=”4.17.4″ _module_preset=”default” custom_margin=”||0px||false|false” custom_margin_tablet=”||-102px||false|false” custom_margin_phone=”||-70px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”100px||70px||false|false” custom_padding_tablet=”100px||56px||false|false” custom_padding_phone=”50px||23px||false|false” top_divider_style=”ramp2″ top_divider_color=”#e7dff3″ bottom_divider_style=”ramp2″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” custom_margin=”|auto|-33px|auto||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Depending on how much income you earn and the nature of your debts and assets<\/strong>, you may also be required to pay extra towards your debts before you’re able to obtain your\u00a0bankruptcy discharge<\/a>. Funds are paid to your trustee and then disbursed to creditors. While these additional funds aren\u2019t considered a fee, they can increase what it costs to go bankrupt in Canada<\/strong>.<\/em><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” module_id=”pay-bills” _builder_version=”4.27.2″ width_tablet=”80%” width_phone=”80%” width_last_edited=”on|phone” custom_padding=”19px|||||” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.27.2″ animation_style=”slide” animation_direction=”left” animation_intensity_slide=”2%” custom_css_main_element=”margin: auto;” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/discussing-financial-costs_2colm.jpg” alt=”A woman talks to a credit counsellor about her financial situation” title_text=”discussing-financial-costs” align_tablet=”center” align_phone=”” align_last_edited=”on|phone” _builder_version=”4.16″ custom_padding_tablet=”40px||40px||false|false” custom_padding_phone=”30px||30px||false|false” custom_padding_last_edited=”on|tablet” border_radii=”off|200px|20px|200px|20px” box_shadow_style=”preset2″ global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text _builder_version=”4.27.2″ animation_direction=”top” global_colors_info=”{}”]<\/p>\n You’ll also need to pay extra towards your debts if you receive any lump sums of money while you\u2019re working through your <\/span>bankruptcy process<\/a>. Lump sums of money include tax refunds, winning the lottery, or receiving an inheritance or insurance settlement.<\/span><\/em><\/p>\n If you need to file for bankruptcy<\/a> but can’t afford the fee, the Office of the Superintendent of Bankruptcy (OSB) will help find a bankruptcy trustee<\/a> who will then be assigned to your case for a reduced fee<\/strong>. You may be able to get help<\/strong> with or get an exemption<\/strong> from the financial cost<\/strong> (fees<\/strong> and deductible<\/strong>) of bankruptcy.<\/p>\n The amount of the fee is based on what the trustee must pay to file your bankruptcy paperwork with the Court.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Testimonial – Chris” _builder_version=”4.27.2″ background_color=”#e4f8e0″ custom_margin=”||||false|false” custom_margin_tablet=”||0px||false|false” custom_margin_phone=”||-5px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”||||false|false” da_disable_devices=”off|off|off” collapsed=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ use_custom_gutter=”on” gutter_width=”1″ make_equal=”on” custom_padding_last_edited=”on|phone” admin_label=”Testimonial” module_class=”custom_row” _builder_version=”4.16″ width_tablet=”” width_phone=”80%” width_last_edited=”on|phone” custom_margin=”|auto||auto|false|false” custom_margin_tablet=”” custom_margin_phone=”0px||0px||true|false” custom_margin_last_edited=”on|phone” custom_padding=”3px|0px|0px||false|false” custom_padding_tablet=”30px||||false|false” custom_padding_phone=”0px||0px||true|false” global_colors_info=”{}”][et_pb_column type=”1_2″ module_class=”vertical-align second-on-mobile” _builder_version=”4.16″ animation_direction=”left” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/05\/Testimonial_speech.png” alt=”Testimonial speech” title_text=”Testimonial” admin_label=”Quotation Mark” _builder_version=”4.16″ transform_scale_tablet=”” transform_scale_phone=”” transform_scale_last_edited=”on|phone” transform_translate_tablet=”” transform_translate_phone=”” transform_translate_last_edited=”on|phone” transform_translate_linked=”off” transform_rotate_tablet=”” transform_rotate_phone=”” transform_rotate_last_edited=”on|phone” transform_skew_tablet=”” transform_skew_phone=”” transform_skew_last_edited=”on|phone” transform_origin_tablet=”” transform_origin_phone=”” transform_origin_last_edited=”on|phone” transform_styles_last_edited=”on|phone” max_width=”150px” max_width_tablet=”122px” max_width_phone=”116px” max_width_last_edited=”on|phone” module_alignment=”left” custom_margin=”-30px|0px|-30px|0px|true|true” custom_margin_tablet=”-30px|0px|-30px|0px|true|true” custom_margin_phone=”-25px|0px|-25px||true|false” custom_margin_last_edited=”on|phone” custom_padding=”0px|42px||42px|false|true” custom_padding_tablet=”0px|50px||0px|false|false” custom_padding_phone=”40px|60px|0px|0px|false|false” custom_padding_last_edited=”on|phone” filter_opacity=”30%” transform_styles_tablet=”” transform_styles_phone=”” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”Testimonial – Sandra” _builder_version=”4.16″ header_2_text_color=”#5b25af” header_2_font_size=”42px” transform_translate_linked=”off” width=”100%” width_tablet=”” width_phone=”100%” width_last_edited=”on|phone” max_width=”100%” max_width_tablet=”” max_width_phone=”100%” max_width_last_edited=”on|phone” custom_margin=”15px|0px|0px|0px|false|true” custom_padding=”0px|89px|0px|89px|true|true” custom_padding_tablet=”|0px||51px|true|false” custom_padding_phone=”0px|40px|0px|40px|true|true” custom_padding_last_edited=”on|phone” module_alignment_tablet=”” module_alignment_phone=”” module_alignment_last_edited=”on|phone” global_colors_info=”{}”]<\/p>\n Whatever your financial worries, trepidation or fear of being judged\/forced into bankruptcy – get CCS to help. Their staff are incredible, couldn’t have dealt with a better group of people. They are truly dedicated to finding practical solutions, advocating for your financial future. First they provide hope, then they help and finish by delivering happiness.<\/p>\n Daryl<\/strong><\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ module_class=”first-on-mobile” _builder_version=”4.16″ animation_style=”slide” animation_direction=”right” animation_intensity_slide=”3%” global_colors_info=”{}”][et_pb_image src=”https:\/\/nomoredebts.org\/wp-content\/uploads\/2020\/09\/client-daryl_testimonial.jpg” alt=”Daryl, a client of the Credit Counselling Society. ” title_text=”Daryl” show_bottom_space=”off” align=”center” admin_label=”Chris” _builder_version=”4.27.2″ width=”100%” max_width=”100%” module_alignment=”center” max_height=”385px” custom_margin=”15px|0px|0px|80px|false|false” custom_margin_tablet=”0px|||0px|false|false” custom_margin_phone=”” custom_margin_last_edited=”on|phone” custom_padding=”0px|0px|70px|0px|false|false” custom_padding_tablet=”||35px||false|false” custom_padding_phone=”||0px||false|false” custom_padding_last_edited=”on|phone” animation_direction=”left” border_radii=”on|436px|436px|436px|436px” box_shadow_style=”preset1″ box_shadow_horizontal=”4px” box_shadow_vertical=”4px” box_shadow_blur=”21px” box_shadow_color=”rgba(0,0,0,0.15)” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_margin=”0px||||false|false” custom_margin_tablet=”2px||0px||false|false” custom_margin_phone=”” custom_margin_last_edited=”on|tablet” custom_padding=”130px||120px||false|false” top_divider_style=”ramp2″ bottom_divider_style=”curve2″ bottom_divider_color=”#e7dff3″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.16″ custom_padding=”1px|||||” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Many people wonder why it costs so much to go bankrupt and think that they need to go bankrupt because they don\u2019t have enough money to pay their debts. Not everyone who is insolvent<\/a> and unable to pay their debts<\/a> needs to go bankrupt. It depends on your situation if bankruptcy is a good option or not<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ background_color=”#e7dff3″ custom_padding=”50px||60px|||” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.27.2″ animation_direction=”top” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n There are a lot of situations where once a creditor is fully aware of someone\u2019s circumstance, they no longer actively attempt to collect what is owed. There are effective ways to communicate with creditors<\/a> to ask them to help you, which will stop collection calls<\/a>. After the statute of limitation<\/a> has been reached, a debt can no longer be legally collected.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ prev_background_color=”#e7dff3″ _builder_version=”4.16″ _module_preset=”default” background_color=”#ffffff” custom_padding=”150px||14px|||” top_divider_style=”wave2″ da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.19.3″ _module_preset=”default” header_2_line_height=”1.1em” custom_margin=”||0px|||” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” background_color=”#e4f8e0″ custom_padding=”95px|||||” top_divider_style=”wave2″ top_divider_color=”#ffffff” top_divider_height_tablet=”70px” top_divider_height_phone=”” top_divider_height_last_edited=”on|phone” bottom_divider_height_tablet=”70px” bottom_divider_height_phone=”50px” bottom_divider_height_last_edited=”on|phone” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.19.3″ _module_preset=”default” header_3_font_size=”28px” header_3_line_height=”1.1em” global_colors_info=”{}”]<\/p>\nThere May be Additional Costs to Pay in Order to be Discharged<\/h2>\n
How to File for Bankruptcy When You Can’t Afford the Fee<\/h2>\n
Their staff are incredible…<\/h2>\n
When Not to Declare Bankruptcy
When Fees and Associated Costs Are Too Expensive<\/span><\/h2>\nAvoid Bankruptcy by Communicating with Creditors
Get Help to Stop Collection Calls<\/h2>\nCommon Questions About Costs and Fees
Associated With Bankruptcy<\/span><\/h2>\n\n
Don’t Let the Cost of Bankruptcy Stop You from Getting More Information
Contact Us<\/span><\/h3>\n