Licensed Insolvency Trustee


Personal Bankruptcy

Personal Bankruptcy: Windsor & Chatham

Personal Bankruptcy: Windsor & Chatham

At S. Funtig & Associates Inc. we understand how stressful it becomes when faced with financial difficulties. Our aim is to reduce the stress, help you restore your dignity, and organize your affairs to allow you to obtain and handle credit post-bankruptcy. In Windsor and Chatham, our team of qualified advisors will help you find solutions for your particular financial situation.

To book an appointment for a free and confidential assessment of your financial situation, please contact us by email at or by phone at 519.252.8227. We can assist you with any matters concerning bankruptcy at our Windsor and Chatham offices.


I'm having financial problems, do I qualify for bankruptcy?

You must owe your creditors at least $1,000 and must be unable to meet your debts when they become due, or the value of your assets is insufficient to pay all your obligations.

Who should I contact about bankruptcy?

You should contact a licensed trustee in bankruptcy. At S. Funtig & Associates  Inc., we have consultants available to answer your questions. Your initial consultation is free and confidential. If you choose to attend for a consultation, you are not obligated to continue with any service.

How much does it cost?

The cost of a bankruptcy depends on a number of factors, including what assets need to be dealt with, or whether you have you been involved in a business. These and other matters will be discussed with you during the free initial consultation. A trustee's fee is based on the time spent by the trustee's office. All trustee's fees and expenses are reviewed by the Superintendent of Bankruptcy's office. To assist you with payment of the fees and expenses, S. Funtig & Associates Inc. will review your monthly income and work out a manageable payment schedule for you.

Are there other alternatives to bankruptcy?

Certainly. You can: Make an informal proposal by dealing directly with your creditors; Obtain the assistance of your local credit bureau; or Make a consumer proposal under the provisions of the Bankruptcy and Insolvency Act by contacting a licenced trustee

What debts can I claim in a bankruptcy?

Credit card debts, loans, income tax debt to Canada Customs and Revenue Agency.

What debts survive a bankruptcy?

Fines, penalties, restitution order imposed by the court. Support, maintenance or alimony payments. Student loan debts. Debts obtained by fraud or misrepresentation.

Who will be advised of my bankruptcy?

The Superintendent of Bankruptcy, your creditors and notice will be forwarded to your local credit bureau. The trustee will determine how your bankruptcy will be administered. In a summary administration publication in the local newspaper is not required. In an ordinary administration the trustee must publish notice in the local newspaper. Unless a garnishee against your wages is in effect, it is not necessary to advise your employer.

Do I lose everything when I am bankrupt?

No. Certain assets are not seizable. In Ontario, the following assets may be kept by a bankrupt:

Personal property valued under $5,000;
Household goods valued under $10,000;
Motor vehicle valued under $5,000;
Tools of trade valued under $10,000;
Registered Retirement Savings Plans.
Certain life insurance policies and pensions.

Do I still pay my creditors while I am bankrupt?

Payments to unsecured and preferred creditors must stop. Payment to secured creditors must be discussed with the trustee before payments are continued.

May I keep my credit cards?

No. You are required to turn over all your credit cards to the trustee.

What happens to my wages when I file bankruptcy?

During the bankruptcy you are required to provide monthly income and expense statements to the trustee regarding the family unit. The trustee will review your monthly statements with guidelines established by the Superintendent of Bankruptcy. Should your income exceed the guidelines, you will be required to pay surplus income to the trustee.

At the time of the bankruptcy, there is a "stay of proceedings" enforced. If a garnishee is in place, the trustee will advise your employer to stops the deductions to the creditor.

What happens to my income tax returns during bankruptcy?

You are required to provide the trustee with information necessary to file your year prior and pre-bankruptcy returns. The pre-bankruptcy return is for the period of January 1st to the date of bankruptcy. Any refunds are assets of your bankruptcy estate.

The post-bankruptcy return is for the period of the date of bankruptcy to December 31st. This return must be filed with Canada Customs and Revenue Agency no later than April 30th of the following year. If a balance is due, you will be required to pay this amount to Canada Customs and Revenue Agency. If a refund is generated, this refund will be forwarded to the trustee and will likely be an asset of your bankruptcy estate.

How long will I be bankrupt?

If you have not filed bankruptcy before and you have complied with all your duties, you can be discharge from bankruptcy after 9 months. A certificate of discharge will be issued by the trustee.