Bankruptcy in Toronto, Ontario
Filing for personal bankruptcy in Toronto is a legal process under the Bankruptcy and Insolvency Act (BIA). A Licensed Insolvency Trustee administers the process, which typically lasts 9 to 21 months for a first-time filing. Ontario exemptions allow you to keep up to $10,783 in home equity, $7,117 in vehicle value, and $14,180 in household goods. There are 154 Licensed Insolvency Trustees in Toronto who can guide you through the process.
Licensed Insolvency Trustees in Toronto
All providers listed below are licensed by the Office of the Superintendent of Bankruptcy. Initial consultations are typically free.
Caryl Newbery-Mitchell
Ajax
View profile →Jordan Rumanek
Alliston
View profile →Caryl Newbery-Mitchell
Barrie
View profile →Jason Quinney
Barrie
View profile →John Morgan
Barrie
View profile →Robert Kilner
Barrie
View profile →Shannon Jackson
Barrie
View profile →F. Jason Zielski
Belleville
View profile →Richard Goldhar
Belleville
View profile →Carl Rumanek
Brampton
View profile →Jordan Rumanek
Brampton
View profile →Richard Killen
Brampton
View profile →Samantha Galea
Brampton
View profile →Michael Braga
Brantford
View profile →André Bolduc
Brockville
View profile →Joel Easter
Burlington
View profile →Kathy Lenart
Burlington
View profile →Sonya Strand
Burlington
View profile →Michael Braga
Cambridge
View profile →Karen Liberty
Chatham
View profile →Frequently Asked Questions
How much does bankruptcy cost in Toronto?
A first-time bankruptcy in Toronto costs a minimum of $1,800 in administration fees. If your income exceeds the surplus income threshold, you'll also make monthly surplus payments.
What assets can I keep in bankruptcy in Ontario?
In Ontario, you can keep up to $10,783 in home equity, $7,117 in vehicle value, $14,180 in household goods, and $14,405 in tools of trade. RRSPs are exempt except for contributions in the last 12 months.
How long does bankruptcy last in Toronto?
A first-time bankruptcy with no surplus income lasts 9 months. With surplus income, it extends to 21 months. A second bankruptcy takes 24 to 36 months.
MyClearDebt is not a debt relief provider. We do not provide financial or legal advice. Only Licensed Insolvency Trustees can administer consumer proposals and bankruptcies in Canada. Verify any provider's licence on the OSB register.