Can I Declare Bankruptcy If I Live Outside of The Country?

Although many Canadians work abroad, they still maintain a permanent residence in the country.

Generally speaking, under the Bankruptcy & Insolvency Act, if you reside outside of the country, you can still declare bankruptcy as long as you meet the following criteria:

1. Outstanding debts must be more than $1,000;

2. You have carried on business in Canada during the past 12 months;

3. You have resided in Canada during the past 12 months;

4. If you do not meet criteria 2 & 3, you can declare bankruptcy if the greater portion of your property is in Canada.

If you meet these criteria and want to discuss filing for personal bankruptcy or a consumer proposal, you can contact a Licensed Insolvency Trustee to review your options and discuss what is involved in the process.

Powell Associates Ltd. is a Licensed Insolvency Trustee. We are experienced, hands-on insolvency practitioners who understand the personal impacts of major financial stress; 

• You won’t be stuck in an assembly line process. 

• You will expect and receive prompt responses and resolution of issues from our supportive and experienced team.  

• We will review your debt solution options, including filing a consumer proposal or personal bankruptcy. 

• We help Canadians with overwhelming debt get fresh financial starts.  

Once you file a consumer proposal or personal bankruptcy, we deal directly with your creditors on your behalf. Your unsecured creditors are required to stop contacting you or continuing legal proceedings against you. Contact us for a free consultation.  

We offer free consultations to review your financial situation and practical debt resolution options. Contact us to discuss your situation over the phone, a video chat, or in-person in Saint John, Moncton, Fredericton, Charlottetown, Dartmouth, or Miramichi.