Bankruptcy Solutions

Bankruptcy has its advantages

How does Filing for Bankruptcy Work?

Bankruptcy is regulated and sanctions by the Canadian Federal Government and can only be filed by Licensed Insolvency Trustees like our professionals at Fontaine & Associates.

Here is how it works.

1. You meet with one of our Trustees for a free confidential assessment of your financial situation.

2. Bankruptcy documents are prepared for your signature;

3. All legal actions against you are immediately stopped.

4. In most cases, your assets are not affected by bankruptcy. You may keep your house, your vehicles, your investments;

5. Your income is protected and cannot be garnished by your creditors.

6. You may be required to make monthly payments to the Trustee. This payment is based on federal guidelines and tailored to your income and family responsibilities;

7. Most debts are completely eliminated by bankruptcy. This includes credit cards, bank loans, business debts, income tax, payday loans, and other types of debts.

8. The bankruptcy process ends with a discharge. In most cases, this discharge is automatic and obtained within 9 to 21 month;

9. Credit counselling is a mandatory part of the bankruptcy process. You will learn to balance your budget, set financial goals, improve your credit rating and get back on the right track.

For more information, contact us for a free confidential consultation in one of our offices in Ottawa West, Ottawa South-West, Ottawa East, Cornwall, Sudbury, New Liskeard, North Bay, Elliot Lake or elsewhere in Ontario.

Your way to financial relief starts here!

We’re here to answer your questions and get you back on track. Schedule your free consultation now in one of our locations in Ontario!


Covid-19 / Update :

Our offices are now completely open again for regular business hours. We will however, continue to conduct as many meetings as possible virtually and we will continue to have many of our employees work from home to keep traffic in our offices to a minimum.

As we do our part to minimize the spread of the virus, visiting our office will now be by appointment only until further notice. This new visitation policy will help us balance the need for social distancing while still being able to provide timely services in an effective manner based on individual circumstances.

Read the full note with our measures