Will my Bankruptcy be Advertised in Newspapers or Online?
Will my Bankruptcy be Advertised in Newspapers or Online?If your assets creditors do not exceed a realizable value of $15,000, your bankruptcy will likely be administered as a “summary” administration, and no newspaper advertisement is made.
By contrast, if the value of your realizable assets exceeds $15,000, your bankruptcy will be considered an “ordinary” administration, and your Trustee will be required to place an advertisement notice in the newspaper. There is no online advertisement of bankruptcy filings.
How can I find out if someone has gone bankrupt?
If a person or a business has declared bankruptcy, you can do an online search of the public bankruptcy and insolvency records. These records contain debtor information for bankruptcies and proposals registered in Canada since 1978. To search go to: ic.gc.ca and search Bankruptcy and Insolvency Records (there is a minimum charge of $8 per search).
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.
