Who Will Know I've Filed for Bankruptcy?

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

Who Will Know I’ve FiledFor Bankruptcy?

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

The thought of bankruptcy can be unsettling, partly due to the misconceptions about bankruptcy in Canada.

One of those misconceptions is that everyone will know you have filed for bankruptcy.

But who will actually know?

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

Although consumer proposals and bankruptcies are public record, the

majority of the time, only your trustee and those you owe money to will know

you have filed.

Your trustee is NOT obligated to notify your employer or other organizations you are involved with, UNLESS you

owe them money.

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

Will my employer find out?Your trustee will not notify your

employer about your bankruptcy.

However, prior to filing, if you are facing a wage garnishment by creditors, your

employer will be contacted by the court.

A trustee can stop the garnishment. Bankruptcy provides you with legal

protection from your creditors.

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

Who does my trustee notify?

Once you have filed for bankruptcy, your trustee will only notify your

creditors and the Superintendent of Bankruptcy.

A note is then put on your credit report that you have filed, which will remain

there for up to 7 years after your discharge.

Only your creditors are likely to see this information.

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

You should know that anyone can learn of your bankruptcy filing through a paid search of public

records, but it’s unlikely they’ll do so.

If you choose to file, unless you’re a high income filer, its likely the only people that will ever know are your

creditors and those you wish to tell yourself.

Bromwich & Smith: 1-866-353-6726 inquiries@solvingdebt.ca

For more information on this topic and

other financial tips,

visithttp://www.solvingdebt.ca