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Which debts can be discharged?

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All debts must be included when filing for bankruptcy. The main advantage of filing bankruptcy is the immediate cancellation of unsecured debts (money lowed without collateral) such as:
  • Unsettled government or income tax debts
  • Credit cards
  • Outstanding utility bills
  • Lawsuits
  • Student loans (must be at least 7 years since student activity has ceased)
  • Personal loans or lines of credit 
You will also be protected from:public utility cuts (telephone, electricity) wage garnishment property exemptions:
  • debts-i-can-includeMoveable property which furnishes a main residence
  • Food and clothing
  • Tools and instruments needed for professional activity (e.g., mechanic's tools)
  • Personal documents and family portraits
  • Alimony and child support payments
  • Equipment needed for the accessibility of a handicapped person
  • All goods received in an inheritance
  • CSST and invalidity indemnities
  • RRSPs contributions made within 12 months preceding your bankruptcy

Debts not released by order of discharge