Leaving Canada With Debt: A One-Way Ticket Home

Paul Franchi considers the insolvency implications of leaving Canada with unpaid debts, explaining that individuals can continue a consumer proposal or bankruptcy while living abroad but remain subject to payment, disclosure and other statutory obligations, including surplus income requirements. He also addresses eligibility for insolvency proceedings, the potential consequences for immigration and family sponsorship, creditors’ assessment of consumer proposals, and the limits of Canadian bankruptcy discharges in foreign jurisdictions.

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