Is anyone going to know that I filed for bankruptcy in Canada?

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There is no single cause behind most bankruptcies in Canada. Instead, most people end up filing for bankruptcy due to a mixture of reasons, many of which are beyond the control of the bankrupt individual. However, people who file for bankruptcy are often embarrassed and want to ensure that no one knows about their financial troubles.

According to the Bankruptcy and Insolvency Act and other Canadian laws, only a few individuals or other entities will inevitably learn about your bankruptcy.

Who are they?

Federal Government

The federal government maintains official bankruptcy records. Licensed bankruptcy trustees must report their bankruptcy clients to the Office of the Superintendent of Bankruptcy.

Credit bureaus

Credit bureaus always know of your bankruptcy via the Office of the Superintendent of Bankruptcy, as the office sends details on the latest bankruptcies to credit reporting agencies monthly. Credit bureaus record the bankruptcy on your credit report for seven years.

Individual creditors

Individual creditors obtain a report of your bankruptcy from your bankruptcy trustee. Potential new creditors record your bankruptcy when considering your credit application if the bankruptcy has yet to be recorded on your credit report.

Potential Lenders

Potential lenders must be informed you’re in bankruptcy if they consider loaning you $500 or more – friends and family included.


Newspapers might report a legal notice of your filing for bankruptcy if you have many assets. If your assets are not substantial, newspapers ignore you. Those who will be reported as bankrupt in newspapers own property valued quite highly, a small business, and other such things.

Who Will Not Find Out About Your Bankruptcy?

There is no way to stop anyone curious enough about you from digging into public bankruptcy records and discovering that you have filed for bankruptcy. The Office of the Superintendent of Bankruptcy records is public records; anyone can access them to find your financial history. Nevertheless, this is not a concern for most people. It is improbable that anyone will ever know about your bankruptcy apart from creditors and a few employers who need to inspect your credit unless you want them to.

If bankruptcy is the only way to get out of your debt, don’t let potential humiliation keep you from filing for bankruptcy and beginning your financial life. Contact Dana MacRae, Licensed Insolvency Trustee, for the best financial solution. 

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