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Keeping Anonymous….will my friends and family find out?

July 5th, 2012

For the vast majority of Canadian personal bankruptcies there is no obvious public disclosure that an individual has become bankrupt.  There are very rarely public filings of court records related to personal bankruptcies.  In the majority of cases, unless you are a very well known high profile personality in your community, only your trustee will have knowledge of your faillite.  Remember that creditors will know about the faillite so any local stores, family or friends you may have listed as creditors will be informed of your faillite.  One thing to remember is that in the future when you are completing a credit application, if you are asked whether or not you have been bankrupt you must answer honestly.  Failing to make a correct declaration could land you in trouble.

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