Can A Permanent Resident File For Bankruptcy?

Can A Permanent Resident File For Bankruptcy?

Yes.  As a permanent resident of Canada, you are able to make an assignment in bankruptcy or consumer proposal.  In fact, even if you are not a permanent resident, but have lived in Canada for more than a year, then you too can make an assignment in bankruptcy or consumer proposal.

Will an assignment in bankruptcy affect my application for citizenship?

No.  At present, filing an assignment in bankruptcy does not affect your application for Canadian citizenship.  Neither does filing a consumer proposal.

Can I still sponsor my family and friends?

Filing a consumer proposal does not affect your ability to sponsor family and friends wishing to immigrate to Canada.
While you are an undischarged bankrupt, you are unable to sponsor family and friends.  Once you complete your bankruptcy process, which lasts between 9 and 36 months,   you are once again able to sponsor family and friends.

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To have your situation reviewed by our Licensed Insolvency Trustee for free, get in touch.  We offer free consultations, and never charge up-front fees.  What are you waiting for?  You’ve got nothing to lose except your debt!