Best Bankruptcy & Debt Lawyers in Canada

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Scharfstein LLP

Scharfstein LLP

Saskatoon, Canada

Founded in 1960
English
Scharfstein LLP, based in Saskatoon, Saskatchewan, offers a comprehensive range of legal services, including corporate and commercial law, family law, civil litigation, real estate, and wills and estates. The firm's corporate and commercial law services encompass incorporation, shareholder...

Davidson Lawyers LLP

Vernon, Canada

English
A professional law firm offering expert legal services.
Benson Law LLP

Benson Law LLP

Kelowna, Canada

English
Benson Law LLP, located in Kelowna, British Columbia, offers a comprehensive range of legal services tailored to meet the diverse needs of its clientele. The firm's practice areas encompass Business Law, Civil Litigation, First Nations Law, Family Law, Personal Injury, Real Estate, and Wills &...
McLeod Law LLP

McLeod Law LLP

Calgary, Canada

Founded in 1980
200 people in their team
French
English
Progressive. Entrepreneurial. Practical.McLeod Law LLP opened its doors in 1980 as a two-person operation. We've grown to a team of more than 60 lawyers with legal services in over 40 different areas. Weโ€™re in the business of helping people, and that will never change. Our size and depth of...
Ogilvie LLP

Ogilvie LLP

Edmonton, Canada

Founded in 1920
50 people in their team
French
English
Your future is our focus.Ogilvie was built in 1920 on a tradition of building relationships and working alongside our clients, and that is still our philosophy an entire century later. Weโ€™re proud to celebrate over 100 years together with our specialized teams of lawyers who will work beside you...
Bear Creek Law LLP

Bear Creek Law LLP

Surrey, Canada

English
Bear Creek Law LLP stands as a cornerstone of legal expertise in Canada, renowned for its multifaceted proficiency across diverse practice areas. Specializing in criminal justice, family law, real estate, and more, the firm's seasoned attorneys bring a wealth of experience to each case. Their...
Cooper & Company Law Firm

Cooper & Company Law Firm

Fort McMurray, Canada

Founded in 1975
English
Cooper & Company Law Firm, a renowned legal entity in Canada, offers a comprehensive array of specialized legal services. Their expertise spans various domains, including bankruptcy law, criminal justice, divorce, family law, insurance, personal injury, real estate, and trial law. With a reputation...
Willows LLP (Previously Willows Wellsch Orr & Brundige LLP)

Willows LLP (Previously Willows Wellsch Orr & Brundige LLP)

Regina, Canada

English
Willows LLP, formerly known as Willows Wellsch Orr & Brundige LLP, stands as a prominent legal institution in Canada, renowned for its comprehensive suite of legal services that cater to a diverse range of client needs. With a robust team of attorneys specializing in a variety of practice areas,...
Franklin & Franklin

Franklin & Franklin

Montreal, Canada

Founded in 1925
50 people in their team
French
English
Franklin & Franklin was founded in 1925 by M.H. Franklin, Q.C. and now, 100 years and 3 generations later, we are still considered the premier law firm in Montreal.Our clients always choose Franklin and Franklin because, for 10 decades, our reputation as tenacious legal professionals who work...
Shim Law

Shim Law

Calgary, Canada

Founded in 2014
50 people in their team
French
English
ABOUT SHIM LAWProviding Solutions for your Legal ProblemsWe have a team of lawyers with diverse skills and backgrounds to serve you in any legal situation. Shim Law was formed in 2014 when a team of Calgary Lawyers collectively came together from all across the world to put together their...
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About Bankruptcy & Debt Law in Canada:

Bankruptcy & Debt law in Canada governs the legal process individuals and businesses go through when they are unable to repay their debts. This area of law provides a set of rules and regulations to ensure fair treatment for both debtors and creditors.

Why You May Need a Lawyer:

There are several situations where you may require legal assistance in Bankruptcy & Debt, such as negotiating with creditors, filing for bankruptcy, or defending against a lawsuit related to debt. A lawyer can help guide you through the process, protect your rights, and ensure you make informed decisions.

Local Laws Overview:

In Canada, there are federal laws such as the Bankruptcy and Insolvency Act that govern bankruptcy proceedings. Each province and territory may also have its own specific rules and regulations regarding debt collection, bankruptcy, and consumer protection.

Frequently Asked Questions:

1. What are the different types of bankruptcy in Canada?

In Canada, there are two main types of personal bankruptcy: a summary administration bankruptcy, which is typically for individuals with low income and minimal assets, and an ordinary administration bankruptcy, which is for individuals with higher income and assets.

2. How does bankruptcy affect my credit score?

Bankruptcy will have a negative impact on your credit score, making it more difficult to obtain credit in the future. However, with time and responsible financial management, you can rebuild your credit score.

3. Can I keep any of my assets if I file for bankruptcy?

There are exemptions in bankruptcy law that allow you to keep certain assets, such as basic household items, a car, and tools of your trade. However, it's important to consult with a lawyer to understand what assets you can keep in your specific situation.

4. What are my alternatives to filing for bankruptcy?

Alternatives to bankruptcy include debt consolidation, debt settlement, and consumer proposals. These options can help you repay your debts without going through the bankruptcy process.

5. How long does bankruptcy stay on my credit report?

Bankruptcy will stay on your credit report for six to seven years, depending on the credit reporting agency. After this period, the bankruptcy will be removed from your credit report.

6. Can creditors contact me after I file for bankruptcy?

Once you file for bankruptcy, an automatic stay is put in place, preventing creditors from contacting you or taking any legal actions to collect debts. If creditors continue to contact you, you should inform them of your bankruptcy status or consult with a lawyer.

7. Will I lose my house if I file for bankruptcy?

Whether you will lose your house in bankruptcy depends on various factors, such as the equity in your home and applicable exemptions. Consulting with a lawyer can help you understand the implications of filing for bankruptcy on your property.

8. Can I file for bankruptcy on my own?

While you can technically file for bankruptcy on your own, it's highly recommended to seek legal advice to ensure you understand the process, comply with the legal requirements, and protect your rights throughout the bankruptcy proceedings.

9. Can student loans be included in bankruptcy?

In most cases, student loans cannot be discharged through bankruptcy unless you can prove that repaying the loans would cause undue hardship. It's essential to consult with a lawyer to discuss your options regarding student loans and bankruptcy.

10. How much does it cost to file for bankruptcy in Canada?

The cost of filing for bankruptcy in Canada will vary depending on your financial situation and the complexity of your case. It's important to consult with a licensed insolvency trustee or a lawyer to understand the fees involved in the bankruptcy process.

Additional Resources:

If you need further information or assistance with Bankruptcy & Debt in Canada, you can contact the Office of the Superintendent of Bankruptcy Canada, the Canadian Bar Association, or a local legal aid clinic for support and guidance.

Next Steps:

If you are facing financial difficulties or considering filing for bankruptcy, it's crucial to seek legal advice from a qualified lawyer who specializes in Bankruptcy & Debt law. A lawyer can assess your situation, explain your options, and help you navigate the complex legal process to achieve the best possible outcome for your financial future.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.