Are All Of My Debts Releasable?

When you are in financial trouble and are starting to file for bankruptcy or a consumer proposal, you should know that certain types of debt are not dischargeable.

Of course, during your visit to Groupe Leblanc Syndic your advisor will enlighten you on your situation, but here are some preliminary indications.

The Bankruptcy and Insolvency Act provides in article , debts which are not dischargeable and which therefore must be assumed by the debtor. However, it does not prevent an individual from filing for bankruptcy or a consumer proposal. Sometimes non-dischargeable debts must be discharged even during a consumer proposal or bankruptcy while others can be put on hold during insolvency and paid off after the process is complete. In all cases, the debtors must repay these so-called non-dischargeable debts.

For all questions relating to certain types of debt, it is much wiser to turn to an insolvency expert, because each case is different and must be treated with its particularities.

Any debt arising from a surety bond in penal matters, that is to say, all debts imposed by law. Fines, penalties, tickets, compensation payable for bodily injuries, etc.

All debts or obligations arising from alimony. 

All debts due to fraud, embezzlement or breach of trust 

All student debts arising from a loan guaranteed under the “Federal Law on Student Loans” or “The Federal Law on Student Financial Assistance” are not dischargeable if the student left school less than seven years ago. years.

If you are not convinced that your loan is releasable, contact financial assistance directly. 

On another note, many people believe that tax debts cannot be included in a bankruptcy or a consumer proposal, but this type of debt is not covered by Bill

In short, to find out more about your situation, do not hesitate to make an appointment with Groupe

Leblanc Syndic. Our team of insolvency counselors is trained to meet your needs, taking into account the specifics of your situation. They will meet your expectations and offer you the best solution to help you regain your freedom. To get a clear picture of your situation, we offer you a free consultation in less than 48 hours.

Have you ever prevented yourself from coming to consult us believing that your debts were non-dischargeable?