Step 8: Report to the OSB
Sometimes a debtor’s actions, either before or during their bankruptcy, are cause for concern. Because your trustee is an officer of the Bankruptcy Court, it’s up to them to alert the OSB to anything you have done that may jeopardize your application to be discharged from your bankruptcy.
For example, something like maxing out your credit cards before declaring bankruptcy may make you ineligible for bankruptcy or make your application more difficult than it needs to be.
Getting Rid of Debt
We’re happy to help you figure out your options. There are more than you might think.
Canada has 2 insolvency options, a consumer proposal or bankruptcy. Find out how they stack up.
Are you curious about what credit counselling is or how it works? Here’s what you need to know.