Blogger :
Total Bankruptcy
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All posts by Total Bankruptcy
Category :
Bankruptcy
Blogged date : 2007 Jan 24
Individuals with assets and debts on both sides of the border are a special case. If they face possible bankruptcy, they should seek professional help in the country where their situation is desperate. However, if they have major assets in the other country, their bankruptcy attorney or trustee is likely to hold up the bankruptcy until those assets are liquidated. Bankruptcy in either country does not wipe out debts in the other country.
Bankruptcy laws in Canada differ from those in the U.S., so it is important for consumers in Canada to get information and advice that are valid in the Canadian system.