[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\/09\/contacting-for-help_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” hover_enabled=”0″ text_text_shadow_style=”preset2″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
How Bankruptcy Works<\/p>\n
[\/et_pb_text][et_pb_button button_url=”\/contact-us” button_text=”Get Help Now” button_alignment=”center” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_button][\/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=”4.16″ background_color=”rgba(91,37,175,0.15)” custom_padding=”0px||0px|||” custom_padding_tablet=”||9px||false|false” custom_padding_phone=”||1px||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=”4.27.4″ custom_margin=”||0px|||” custom_padding=”||2px|||” animation_direction=”bottom” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
Learn the basics about how bankruptcy works in Canada with this guide. Find out about the rules and process of how to file or apply for bankruptcy in order to eventually be discharged.<\/em><\/p>\n The bankruptcy process in Canada<\/strong> (declaring bankruptcy) is a big step and not one to take lightly. Once you assign yourself into bankruptcy, it is extremely difficult to change your mind.<\/p>\n Do yourself a favour and make sure that you have explored alternatives to bankruptcy<\/a> before you decide to go bankrupt<\/strong><\/a>. Applying for bankruptcy will impact your life in many ways. No matter how difficult your money problems<\/a> may seem today, something this important with long term consequences that you might not be fully aware of, is worth considering carefully.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ next_background_color=”#e4f8e0″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”135px||65px|||” top_divider_style=”ramp2″ top_divider_color=”#e7dff3″ bottom_divider_style=”curve2″ 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=”4.22.0″ _module_preset=”default” global_colors_info=”{}”]<\/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=”#ffffff” _builder_version=”4.16″ _module_preset=”default” background_color=”#e4f8e0″ custom_margin=”||0px||false|false” custom_margin_tablet=”||-90px||false|false” custom_margin_phone=”-8px||-70px||false|false” custom_margin_last_edited=”on|phone” custom_padding=”1px||80px|||” custom_padding_tablet=”35px||||false|false” custom_padding_phone=”55px||||false|false” 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” 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” global_colors_info=”{}”]<\/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=”#ffffff” custom_margin=”0px||||false|false” custom_margin_tablet=”100px||0px||false|false” custom_margin_phone=”82px||||false|false” custom_margin_last_edited=”on|tablet” custom_padding=”0px||120px||false|false” bottom_divider_style=”wave2″ bottom_divider_color=”#5b25af” 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 module_id=”the-costs” _builder_version=”4.17.4″ custom_padding=”1px|||||” global_colors_info=”{}”]<\/p>\n Part of the bankruptcy filing process includes your trustee filing your income tax return for you. If you did not file a tax return for the year prior to declaring bankruptcy, your trustee will do that first. Then they will file a return for the period of January 1 until the day prior to you filing for bankruptcy. Any refunds or tax credits from the government will be sent to your trustee and form a part of your estate. Find out more about bankruptcy and income taxes from CRA (Canada Revenue Agency)<\/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” admin_label=”CTA 1 – You’re not alone” _builder_version=”4.16″ background_color=”#5b25af” background_enable_image=”off” max_width=”100%” custom_padding=”70px||1px||false|false” custom_padding_tablet=”5px||30px||false|false” custom_padding_phone=”” top_divider_height=”180px” top_divider_flip=”horizontal” top_divider_height_tablet=”100px” top_divider_height_phone=”” top_divider_height_last_edited=”on|phone” bottom_divider_style=”curve2″ bottom_divider_color=”#e7dff3″ bottom_divider_height=”150px” bottom_divider_style_last_edited=”off|tablet” bottom_divider_height_tablet=”80px” bottom_divider_height_phone=”70px” bottom_divider_height_last_edited=”on|phone” scroll_blur=”0|40|60|100|100px|0px|0px” 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=”Service Section Title” _builder_version=”4.16″ custom_margin=”|auto||auto|false|false” custom_padding=”||140px||false|false” custom_padding_tablet=”100px||100px||false|false” custom_padding_phone=”100px||||false|false” animation_direction=”top” locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Title” module_id=”which-option-is-best-for-you” _builder_version=”4.16″ text_font=”|700|||||||” text_text_color=”#ffffff” text_font_size=”30px” text_line_height=”1em” header_font=”||||||||” header_text_color=”#ffffff” header_2_font=”Montserrat|700||on|||||” header_2_font_size=”42px” header_2_line_height=”1.3em” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” background_layout=”dark” max_width=”700px” module_alignment=”center” custom_margin=”-15px||||false|false” custom_padding=”||0px|||” animation_direction=”bottom” inline_fonts=”Work Sans” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text admin_label=”Subtitle” _builder_version=”4.16″ text_font=”||||||||” text_text_color=”#ffffff” text_line_height=”1.8em” header_font=”||||||||” background_size=”initial” background_position=”top_left” background_repeat=”repeat” text_orientation=”center” max_width=”700px” module_alignment=”center” custom_margin=”|||” custom_padding=”0px|||||” animation_direction=”bottom” global_colors_info=”{}”]If you’re struggling to pay your debts<\/a> and need more information about bankruptcy alternatives<\/strong><\/a> and the bankruptcy process<\/strong>, a credit counsellor\u00a0can answer your questions and provide you with guidance and information so that you can make an informed decision.[\/et_pb_text][et_pb_text _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\nThe 10 Steps Involved When You File for Bankruptcy
What Happens When Filing for Bankruptcy<\/span><\/h2>\n\n
Common Questions About the Bankruptcy Process<\/h2>\n
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Bankruptcy and Income Taxes<\/h2>\n
Contact Us for More Information About the Bankruptcy Process and Alternatives to Bankruptcy in Canada<\/h3>\n