Bankruptcy in Regina, Saskatchewan
Filing for personal bankruptcy in Regina, Saskatchewan 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. Saskatchewan exemptions allow you to keep up to $50,000 in home equity, $10,000 in vehicle value, and $4,500 in household goods. There are 3 Licensed Insolvency Trustees in Regina who can guide you through the process.
Licensed Insolvency Trustees in Regina
All providers listed below are licensed by the Office of the Superintendent of Bankruptcy. Initial consultations are typically free.
Frequently Asked Questions
How much does bankruptcy cost in Regina?
A first-time bankruptcy in Regina 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 Saskatchewan?
In Saskatchewan, you can keep up to $50,000 in home equity, $10,000 in vehicle value, and $4,500 in household goods. RRSPs are exempt except for contributions in the last 12 months.
How long does bankruptcy last in Regina?
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.