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A.JB Solutions

Phone: 514 313-6033
Toll-free: 1-866-481-3136
Email: josee@ajbsolutions.ca

Bankruptcy Montreal

Bankruptcy in Montreal

Declaring bankruptcy is not an easy decision, but you are not alone. A.JB supports you with respect, clarity, and compassion at every stage of your reflection.

Considering bankruptcy in Montréal? Whatever your financial situation may be, it is essential to take the time to consult and fully understand your options before meeting with a licensed insolvency trustee. At A.JB, we take the time to explain:

the real consequences of bankruptcy,

the possible solutions to debt,

and the alternatives that may be available to you, depending on your situation.

Our goal is to help you make an informed decision, with confidence.


A Human and Personalized Approach. Whether you are facing personal bankruptcy, business bankruptcy, or a debt situation as a self-employed worker, we offer attentive, respectful support tailored to your reality.

Our approach is:

human,

warm,

judgment-free,

and centered on your needs.


Don't speak French, English, or Spanish? No problem! We will provide a translator for the language of your choice upon request. For hearing-impaired individuals, a sign language interpreter is also available.

Bankruptcy Montreal

What is bankruptcy?

When all other possible solutions have been ruled out, bankruptcy may be the only way to resolve your financial difficulties. Bankruptcy is a solution used when debt consolidation or a consumer proposal cannot be chosen as debt relief options.
The Bankruptcy and Insolvency Act, established by the federal government in 1869, aims to release you from your debts and give you a fresh start. Additionally, this solution suspends legal actions from your creditors (such as bank account seizures, wage garnishments, and asset seizures) and ends harassment. Creditors will no longer be able to contact you; they will have to communicate only with your trustee.
In the event of bankruptcy, certain assets may be realized for the benefit of creditors, while others are exempt from seizure, depending on the law and your personal situation. At A.JB, we help you to:

understand whether you are considered insolvent;

analyze your budget;

assess the gap between your income and your expenses;

understand the concrete impacts of bankruptcy in your specific case.

Bankruptcy Montreal

The most significant consequence of bankruptcy is that, in addition to surrendering certain assets for debt repayment, it affects your credit. Additionally, in general, individuals who need a car during this period will face extremely high interest rates.

You will be released from all your debts, except those specified in Section 178 of Law C-12:

Fines and penalties imposed by the court, including traffic tickets and others;

Compensation awarded by the court for bodily harm caused intentionally;

Debts or obligations for alimony;

Debts or obligations resulting from fraud, embezzlement, or breach of trust while acting as a trustee;

Debts resulting from obtaining goods or services through false representations;

Student loans within 7 years of finishing your studies (after 7 years, this debt is dischargeable).

Bankruptcy Montreal
Since September 18, 2009, the new law's deadlines for bankruptcies filed from this date are as follows:
First bankruptcy:
Automatic discharge in the absence of opposition
Without surplus income: 9 months
With surplus income: 21 months
Second bankruptcy:
Automatic discharge in the absence of opposition
Without surplus income: 24 months
With surplus income: 36 months
Third bankruptcy and more:
12 months after the bankruptcy date
Mandatory court hearing
The court may extend the bankruptcy
Bankruptcies involving significant tax debts ($200,000 or more), representing at least 75% of total debts, require a mandatory court hearing and variable discharge conditions imposed by the court based on the circumstances of each case.
Bankruptcy Montréal

Important: The new law states that if you have surplus income at any point during your bankruptcy, the duration will be extended according to the stipulated months above.

Each case is unique: one person may be allowed to keep their home when signing for bankruptcy if there is little or no equity. Another person may keep their fully paid car if it's necessary for work (e.g., taxi drivers).

CONTACT US
Bankruptcy Montréal

Voluntary deposit

If you have little or no income, the voluntary deposit option exists. For Quebec residents, the Voluntary Deposit Act allows low-income individuals to make a monthly payment to the court (with minimal interest), based on salary and family responsibilities. The office administering this program is usually located at the courthouse in your region.
It’s important to contact us as soon as you feel that you may not be able to meet your commitments, as a few answers to your questions may be enough to help you regain control of your finances.
Bankruptcy Montréal

Contact us

For a personalized and attentive consultation, schedule an appointment with our specialist to get all the necessary information to make the right decision.

A.JB is not a trustee: Josée Brouillette is an insolvency counselor. Our job is to inform, support, and protect your rights while shielding you from your creditors!

Our services are accessible to everyone! Our clients often speak Spanish, English, or French, but we can also serve you in the language of your choice. A sign language interpreter is available for hearing-impaired clients as well.

For a free consultation, call (514) 313-6033.

Note: Children are welcome at our office. We will keep them entertained with drinks, treats, games, and drawing!


Important: A.JB is not a trustee office. Josée Brouillette is an insolvency advisor.

Our role is to:

inform you;

guide and support you;

help you understand your rights and your options;

accompany you through your steps, in collaboration with licensed professionals when required.

A.JB offers you the most
affordable option
for your financial problems.

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