top of page

Bankruptcy Process
This series explains how bankruptcy works in Canada from start to finish in clear, practical terms. It breaks down the role of the Licensed Insolvency Trustee, how income and surplus payments are calculated under section 68, what happens to assets and debts, and what to expect at each stage of the process. The focus is on clarity and real-world understanding so individuals can navigate bankruptcy with confidence and informed decision-making.


What Happens to Your Income in Bankruptcy?
What happens to your income when you file bankruptcy? For many people, this is the most difficult part of the process to understand. Why should creditors have any claim on money you earn after filing? This article explores the reasoning behind surplus income and the balance bankruptcy law attempts to strike between fresh starts and fair treatment of creditors.

Shawn A. Stack
Jun 82 min read


What Happens After You File Bankruptcy?
What happens after you file bankruptcy in Canada? This article explains the immediate changes that occur, including how creditor actions stop, how collection activity shifts to the bankruptcy process, and how your legal status changes to “bankrupt.” It also outlines what happens to your assets, lawsuits, and obligations after filing, and why discharge represents the real end of the process.

Shawn A. Stack
Jun 82 min read


What a Licensed Insolvency Trustee Does
What does a Licensed Insolvency Trustee do? Learn the role of a Trustee in bankruptcy, how Trustees are paid, and why they administer the insolvency process rather than act as your personal advocate.

Shawn A. Stack
Jun 82 min read


How Bankruptcy Works Step by Step
Wondering what happens after you file bankruptcy in Canada? This step-by-step guide explains the entire bankruptcy process, from preparing your Statement of Affairs and filing with a Licensed Insolvency Trustee to monthly reporting, counselling sessions, discharge, and rebuilding afterward. If you're considering bankruptcy, understanding the process can help replace uncertainty with clarity.

Shawn A. Stack
Jun 84 min read
bottom of page