Bankruptcy Kit - Canada



CREDITPROVIDE’S BANKRUPTCY SIMPLIFIED KIT

(Canadian Version)

Table of Contents

A. Frequently Asked Questions

Bankruptcy Forms

Copyright © 2000 CreditProvide, All Rights Reserved. No part of this file may be reproduced in any form or transmitted via the Internet without the prior written from its publisher, CreditProvide. Purchasers of this kit are granted a license to use the information and forms contained herein for their own personal use. No claim of copyright is made on any official forms reproduced herein.

A. Frequently Asked Questions

1) WHAT IS BANKRUPTCY?

Bankruptcy is a legal procedure that helps a person cope with heavy financial burden. The main purpose of bankruptcy is to help them get a “fresh start”. To go into bankruptcy, one must be insolvent. To be insolvent means to:

1. Owe at least $1,000;

2. Not be able to meet your debts as they are due to be paid.

2) WILL CREDITORS STOP HARASSING ME?

Yes. By law, all actions against a bankrupt must stop once the documents are filed. However, this does not apply to secured creditors.

3) WHAT CAN BE TAKEN FROM ME?

In a bankruptcy, assets in excess of your allowed personal exemption, vests in the trustee for the benefit of the creditors of the bankrupt. This includes inheritances received or to which the bankrupt might become entitled, by the death of someone during the time of the bankruptcy. It also includes things as lottery winnings and anything that the bankrupt might gain, including assets bought with any surplus income.

Tax refunds outstanding at the date of the bankruptcy, also vest in the trustee for the creditors. Income Tax law requires a bankrupt to file two tax returns for the year of the bankruptcy. The first (pre bankruptcy tax return) covers the period January 1st through to the date of bankruptcy. The second (post bankruptcy tax return) covers the period starting with the date of the bankruptcy and ending December 31st. Pre-bankruptcy tax rebates vest in the trustee for the creditors.

You will be asked to volunteer any refunds, receivable from your post bankruptcy return, to the trustee for distribution to the creditors. You are not legally required to give up these funds, but the trustee or creditors may apply for a Court Order or it may be reported to the Court at the time of your discharge.

4) HOW DO I GO BANKRUPT?

There are two ways for a person can become bankrupt. The first is to make an assignment in bankruptcy, which is voluntary. The second, is for creditors to ask the Court to make an Order that a person is bankrupt. In both cases a Trustee in Bankruptcy is required to administer the bankruptcy.

5) WILL MY WAGES BE GARNISHED?

Earnings after the start of a bankruptcy, such as wages and salaries or commissions, belong to the bankrupt person and are normally not interfered with by the trustee. There are standards supplied to the trustee by the Superintendent of Bankruptcy that instruct the trustee to collect funds, for the benefit of creditors, from any earnings above the reasonable amount needed for the number of people in the family and the bankrupt's individual situation.

6) WHEN WILL MY BANKRUPTCY OVER?

If this is the person’s first time going bankrupt, an automatic discharge will take place after nine months, if the creditors, Superintendent of Bankruptcy or trustee have not opposed your discharge and you have received counseling. Sometimes, creditors do object and the matter goes to mediation or is heard before a Registrar or a Judge. The discharge is usually granted where the bankrupt is only earning sufficient income to keep themselves and their dependants adequately provided for. It is the discharge of the bankrupt that wipes out the bankrupt's debts. If you have been bankrupt before, your discharge will not be automatic and must be heard before a Judge or a Registrar.

7) WHAT IF I HAVE ENOUGH MONEY TO MAKE A PROPOSAL?

If someone has the money to make a proposal (i.e. income exceeding living expenses), then they might consider making a proposal. If someone files for bankruptcy when they truly have the means to make a proposal, it is the Trustee's job to oppose the bankrupt's discharge. In that case, the bankrupt may be in bankruptcy up to an additional 12 months beyond the normal 9 months. The bankrupt will also be required to make payments in each of these extra months.

8) AM I REQUIRED TO TAKE COUNSELING?

You are required to take counseling to be eligible for the "automatic nine month discharge". The counseling can be one-on-one, or with a group of other bankrupts and your trustee. The first counseling session is required to be held between 10 and 60 days following bankruptcy. The second can be held no later than 210 days following the date of bankruptcy. The cost is $85, plus GST, for each counseling session.

9) WHAT HAPPENS DURING THE BANKRUPTCY?

The bankrupt is required to keep the trustee informed as to their place of residence and must also respond to the trustee's requests for any additional information needed. The bankrupt must also report earnings and living expenses to the trustee, and any change in their situation. The trustee will provide the bankrupt with appropriate forms to be filled out. A meeting of creditors is not required, unless requested by the Superintendent of Bankruptcy or creditors with an aggregate of at least 25% of the proven claims. These meetings are normally held at the Trustee’s office.

10) HOW ABOUT ALIMONY AND MAINTENANCE?

Bankruptcy does not affect alimony or maintenance payments. The payments must be kept up to date. A bankruptcy does not stop collector actions. Alimony and maintenance are provable claims and will be paid as a preferred claim for amounts incurred in the year before bankruptcy.

11) HOW ABOUT STUDENT LOANS?

If the date of bankruptcy is over ten years after the finish of schooling, the debt will be wiped out when the bankruptcy is discharged. If less than ten years, the debt will not be cleared.

12) WHAT ABOUT CANADA CUSTOMS AND REVENUE AGENCY (CCRA)?

CCRA’s has taken the position that they can register as a secured creditor against the real property or personal property of a debtor.

14) WHAT DO I DO IF I SUSPECT THAT CCRA IS GOING TO REGISTER A SECURED POSITION AGAINST ME?

If the debt is large enough, you should meet with a lawyer or a Trustee immediately. A search of the Personal Property Security Registry or land titles will show whether or not the CCRA has filed a secured claim against you. CCRA has advised that they will honor provincial exemptions and they started registering their security position on or about May 1, 1999.

15) WHAT DEBTS CANNOT BE DISCHARGED?

1. Fines imposed by a Court.

2. Money owed for stolen property.

3. Anything obtained by misrepresentation.

4. Alimony and/or maintenance payments.

5. Award of damages by a court for assault.

6. Student loans, if bankruptcy is filed within ten years after schooling.

16) HOW MUCH WILL IT COST?

Trustee fees, filing fees and counselling fees are regulated by the government. The trustee is normally paid out of the funds from the liquidation of the bankrupt's assets. If the bankrupt has no assets available, then the trustee will require a retainer or require the bankrupt to pay the fees. In most cases this amount is around $1,350 plus GST and counseling costs.

17) WHAT AM I ALLOWED TO KEEP?

| | |

|The property exempt from being taken is set by the provinces as follows: | |

| | |

|Alberta: | |

|Food required by the debtor and his/her dependants during the next 12 months; | |

|Necessary clothing of the debtor and his/her dependants up to a value of $4,000; | |

|Household furniture and appliances up to a value of $4,000; | |

|One motor vehicle not exceeding a value of $5000.00; | |

|Medical and dental aids required by the debtor and his/her dependants; | |

|Where the debtor is a bona fide farmer and whose principal source of livelihood is farming 160 acres if the debtor's principal residence is located on that 160 acres and that the 160 | |

|acres is part of the debtor's farm; | |

|The equity in the debtor's principal residence, including a mobile home, up to a value of $40,000.00; | |

|If the debtor is a co-owner of the residence, the amount of the exemption is reduced to an amount that is proportionate to the debtor's ownership interest; | |

|Personal property (i.e. tools, equipment, books) required by the debtor to earn income from the debtor's occupation up to a value of $10,000; | |

|Where the debtor's primary income is from farming operations, personal property required by the debtor for the proper and efficient conduct of the debtor's farming operations for the next| |

|12 months. | |

| | |

|British Columbia: | |

| | |

|Equity in a home in Greater Vancouver and Victoria = $ 12,000. In the rest of the province = $ 9,000; | |

|Equity in Household items = $ 4,000; | |

|Equity in a Vehicle = $ 5,000; The vehicle exemption drops to $2,000 if the debtor is behind on child care payments (to facilitate the enforcement of Maintenance Orders) | |

|Equity in work tools = $ 10,000; | |

|Equity in essential clothing and medical aids is unlimited. | |

| | |

|Manitoba: | |

|Furniture, household furnishings and appliances not exceeding total value of $4,500; Necessary and ordinary clothing of the debtor and family; Food and fuel necessary to family for period| |

|of six months or cash equivalent; If debtor is a farmer: animals necessary for farming operation for 12 months; farm machinery, dairy utensils and farm equipment necessary for ensuing 12 | |

|months; one motor vehicle if required for purposes of agricultural operations. Home quarter. Tools, implements, professional books and other necessaries not exceeding a total value of | |

|$7,500 used in practice of trade, occupation or profession; One motor vehicle, if necessary for work or transportation to and from work, not exceeding $3,000 in value; Articles and | |

|furniture necessary to performance of religious services; Seed sufficient to seed all land of debtor under cultivation; Health aids, including wheelchair, air conditioner, elevator, | |

|hearing aid, eye glasses, prosthetic or orthopaedic equipment, necessary to debtor or family; Chattel property of municipalities and schools; Actual residence of the bankrupt, equity of | |

|$1,500 each if in joint tenancy, or $2,500 if not in joint tenancy. | |

|New Brunswick: | |

|Furniture, household furnishings and appliances used by the debtor or a dependent to a realizable value of $5,000 or to any greater amount that may be prescribed; Food, clothing and fuel | |

|necessary for the debtor and his family; Two horses and sets of harness, two cows, ten sheep, two hogs and twenty fowl, and food therefor for six months; Necessary tools, equipment and | |

|books to the value of $6,500 used in the practice of the debtor's trade or profession; Necessary seed grain and potatoes required for planting purposes to the following quantities: forty | |

|bushels of oats, ten bushels of barley, ten bushels of buckwheat, ten bushels of wheat and thirty-five barrels of potatoes; One motor vehicle having a realizable value of not more than | |

|six thousand five hundred dollars at the time the claim for exemption is made, or not more that any greater amount that may be prescribed, if the motor vehicle is required by the debtor | |

|in the course of or to retain employment or in the course of and necessary to the debtor's trade, profession or occupation or for transportation to a place of employment where public | |

|transportation facilities are not reasonably available; Necessary medical and health aids; Pets belonging to the debtor; Pension plans. | |

|Newfoundland: | |

|Food required by debtor and dependants during the next 12 months; Medical and dental aids required by debtor and dependants; Domesticated animals which are kept as pets and not used for | |

|business purpose; Fuel or heating as a necessity for the debtor and his or her dependants; Clothing of the debtor and his or her dependants, of a value totalling $4,000; appliances and | |

|household furnishings (which are defined as washing machine, clothes dryer, "reasonably necessary" bedroom suites and bedding, oven and stove top burners, "necessary" dishes and kitchen | |

|utensils, and "necessary" strollers, cribs and highchairs), of a value totalling $4,000; Motor vehicle of the debtor, value totalling $2,000; Items of a sentimental value to the debtor, a| |

|value totalling $500; The debtor's equity in his or her principal residence, $10,000; | |

|Personal property used by and necessary for debtor to earn income from occupation, trade, business or calling, $10,000. | |

| | |

|Nova Scotia: | |

|Necessary wearing apparel, household furnishings and furniture; Necessary fuel and food; Necessary grain, seeds, cattle, hogs, fowl, sheep and other livestock; Necessary medical and | |

|health aids; Farm equipment, fishing nets, tools and implements used in debtor's chief occupation, not exceeding $1,000; Motor vehicle not exceeding $3,000. | |

| | |

| | |

|Ontario: | |

|Clothing |$ 5,000.00 | |

|Household Goods |$10,000.00 | |

|Tools of the Trade |$10,000.00 | |

|Farmers |$25,000.00 | |

|Motor Vehicle |$ 5,000.00 | |

| | |

|Quebec: | |

|The movable property which furnishes his main residence, used by and necessary for the life of the household, up to a market value of $6,000 established by the seizing officer; The food, | |

|fuel, linens and clothing necessary for the life of the household; The instruments of work needed for the personal exercise of his professional activity; Family papers and portraits, | |

|medals and other decorations; Property declared by a donor or a testament to be exempt from seizure except in certain cases; Judicially awarded support and sums given or bequeathed as | |

|support ; Benefits payable under a supplemental pension plan to which an employer contributes on behalf of his employees, other amounts declared unseizable by an Act governing such plans | |

|and contributions paid or to be paid into such plans; Periodic disability benefits and expense reimbursements under a contract of accident and sickness insurance; Property of a person | |

|that he requires to compensate for a handicap; A certain portion of salaries and wages based on the number of dependants. | |

| | |

|Saskatchewan: | |

| | |

|Non-Farmers: | |

|Household furniture and personal effects to a value of $4,500 per person; Tools of the trade to a value of $4,500; A motor vehicle, if required for employment; $32,000 equity in your home| |

|($64,000 if jointly owned); Certain life insurance policies; Certain pensions. | |

|Farmers: | |

|Furniture, furnishings and appliances to a value of $10,000; The cash equivalent of produce sufficient to provide food and fuel for heating until the next harvest; All livestock, farm | |

|machinery and equipment, including one car or truck, necessary for the next twelve months operations; One motor vehicle, if required for business or profession, but not in addition to the| |

|one above; Tools and equipment to a value of $4,500 used by a farmer in his trade or profession; Equity in personal residence to a value of $32,000 ($64,000 if jointly owned); Seed grain | |

|equal to two bushels per acre of land under cultivation; Cash equivalent of crop equal to: | |

|unpaid harvesting costs; | |

|living expenses to next harvest; | |

|necessary costs of farming until next harvest. | |

|The homestead; Certain life insurance policies; Certain pensions. | |

B.

CONFIDENTIAL APPLICATION

Answer everything to the best of your knowledge. If you have any questions, call your local trustee. When you have filled out the information, call your local trustee to arrange a meeting.

PERSONAL DATA

Surname: S.I.N.

Given and Middle Names: Birthdate: (Y/M/D)

Are you known by any other name(s): . Please Circle One Mr. / Ms. / Mrs. / Miss

Street Address: Telephone: (Home)

Town/City: Telephone: (Bus.)

Province: Postal Code:

E-mail address:

I have resided at the above address since: Year Month Day

I have resided in B.C. since: Year Month Day

Mailing Address (if different):

Present Occupation:

Full Name and Address of Present Employer:

(including postal code)

You have been employed since when?

Marital Status (Specify month and year of event if it occurred in the last five years, if applicable, for each of the below):

Married ( Common-Law ( Single ( Widowed ( Separated ( Divorced (

Month/Year of Event:

Full name and address of spouse or

common-law partner:

Birthdate of spouse: Spouse's S.I.N.:

Number of dependents who rely on you for financial support:

| Name | Relationship | Birthdate | Address |

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PERSONAL DATA

List all of your employers, showing dates started and terminated, for the past two years. If there were periods when you were drawing U.I.C. benefits, show each period separately.

| Employer's Name | Employer's Full Address | Date of Job or UIC Benefits |

| |(including postal code) | |

| | | Commenced | Terminated |

| | | | |

| | | | |

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Have you ever been bankrupt, either in Canada or elsewhere,

or filed a proposal under the Bankruptcy and Insolvency Act? Yes No

If yes, give: Name of Trustee:

Filing Date:

Location:

Date of discharge/

Certificate of Full Performance:

Is there a copy available?

(please provide copy) Yes No

Have you been self-employed in the last five (5) years? Yes No

| | Business #1 | Business #2 | Business #3 |

| | | | |

|Name | | | |

| | | | |

|Proprietorship, Partnership or Limited Company | | | |

| | | | |

|Period of Operation | | | |

| | | | |

|What happened to business | | | |

| | | | |

|Where are books and records of Company | | | |

Names of partners?

Place of business (city)? Nature of business?

Do you have a GST number? # Payroll Remittance #

If yes, are there any returns outstanding? Yes No

What year?

Are you an officer or a director of a limited company? Yes No

If yes, give details.

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|MONTHLY INCOME |

|Net Employment Income | | |Child Tax Benefit | |

|Net Earnings of Spouse | | |Net Spousal Support | |

|Net Pensions/Annuities | | |Net Employment Insurance Benefits | |

|Net Child Support | | |Net Social Assistance | |

|Other net income | | |Self-Employed | |

| | | |Gross Net | |

| | | |TOTAL MONTHLY INCOME (A) | |

|MONTHLY NON-DISCRETIONARY EXPENSES |

|Child Support Payments | | |Fines/Penalties Imposed by Court | |

|Spousal Support Payments | | |Expenses as a Condition of Employment | |

|Child Care | | |Debts Where Stay Has Been Lifted | |

|Medical Condition Expenses | | |Other | |

|TOTAL MONTHLY NON-DISCRETIONARY EXPENSES (B) | |

| | |

|AVAILABLE MONTHLY INCOME (A – B) = (C) | |

|MONTHLY DISCRETIONARY EXPENSES: |

|Housing Expenses | | |Living Expenses | |

| |Rent/Mortgage | | | |Food/grocery | |

| |Property taxes/condo fees | | | |Laundry/dry cleaning | |

| |Heating/gas/oil | | | |Grooming/toiletries | |

| |Telephone | | | |Clothing | |

| |Cable | | | |Other | |

| |Hydro | | |Transportation Expenses | |

| |Water | | | |Car lease/payments | |

| |Furniture | | | |Repairs/maintenance/gas | |

| |Other | | | |Public transportation | |

|Personal Expenses | | | |Other | |

| |Smoking | | |Insurance Expenses | |

| |Alcohol | | | |Vehicle | |

| |Dining/lunches/restaurants | | | |House | |

| |Entertainment/sports | | | |Furniture/contents | |

| |Gifts/charitable donations | | | |Life insurance | |

| |Allowances | | | |Other | |

| |Other | | |Payments | |

|Non-recoverable Medical Expenses | | | |To Trustee | |

| |Prescriptions | | | |To secured creditor | |

| |Dental | | | |(Other than mortgage and vehicle) | |

| |Other | | | |Other | |

| | |

|TOTAL MONTHLY DISCRETIONARY EXPENSES (D) | |

| | |

|TOTAL - SURPLUS/(SHORTFALL) (C)-(D) | |

- 4 -

| | | |

| | |BEST |

|ASSETS DESCRIPTION |LOCATION |ESTIMATE OF |

| | |PRESENT VALUE |

| | | |

|Cash on Hand | | |

|/In Bank | | |

| | | |

|Household Furniture | | |

|(Fully/Partially Pledged/Exempt) | | |

| | | |

|Retirement Savings Plans | | |

|(RRSP) | | |

| | | |

|Loans Due to You | | |

|/Accounts Receivable | | |

| | | |

|Cash Surrender Value of | | |

|Insurance Policies | | |

| | | |

|Savings Plans | | |

|/Bonds | | |

| | | |

|Clothing and Medical Aids | | |

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|Jewellery | | |

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|Stocks | | |

|/Shares | | |

| | | |

|Estimated Tax Refund | | |

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|Collectibles | | |

|(Stamps, etc.) | | |

| | | |

|House/Cottage/Land | | |

|(Sole/Joint/Part Owner) | | |

|(Fully/Partially Pledged) | | |

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|Mobile Home | | |

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|Automobile/Model | | |

|Serial No. | | |

|(Fully/Partially Pledged/Exempt) | | |

| | | |

|Motorcycle/Model | | |

|Serial No. | | |

| | | |

|Other Motorized Vehicle | | |

| | | |

|Boat | | |

|/Trailer | | |

| | | |

|Any Other Assets/Tools of the Trade | | |

| | | |

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DEBTS

List all debts, including secured debts and utilities.

| | | | |

| | | |Best |

|Creditor's Name |Address, include Apt.#, |Account # |Estimate of |

| |Street # and postal code | |Amount Owing |

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Have any of the above debts arisen from your guarantee or co-signing

of debts for another individual or corporation? Yes No

If yes, please indicate:

| Lender's Name | Lender's Address | Amount | Borrower's Name | Borrower's Address |

| | | | | |

| | | | | |

| | | | | |

Is borrower bankrupt? Yes No

GENERAL

1. Within the last twelve (12) months, have you sold, disposed of or

transferred any of your assets, either in Canada or elsewhere? Yes No

(eg. vehicles, RRSP's, stocks/bonds, furniture)

| Description | Date | | | Disposition |

|of Asset |Disposed |To Whom |Proceeds |of Proceeds |

| | | | | |

| | | | | |

| | | | | |

| | | | | |

2. Within the last twelve (12) months, have you made payments in excess

of regular payments to any creditor, either in Canada or elsewhere? Yes No

3. Within the last twelve (12) months, have you had any assets seized

by a creditor, either in Canada or elsewhere? Yes No

If yes, provide details

Asset seized

Date seized

Name of party seized by

Was party who made seizure a secured creditor? Yes No

Form of security?

4. Do you expect to receive any sums of money, or any other property within the next

12 months, which are not related to your normal income? Yes No

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5. Within the last five (5) years, while you knew yourself to be insolvent,

have you sold, disposed of, or transferred any real estate? Yes No

| Description | Date | | | Disposition |

|of Asset |Disposed |To Whom |Proceeds |of Proceeds |

| | | | | |

| | | | | |

| | | | | |

6. Within the last five (5) years, while you knew yourself to be insolvent,

have you made any gifts to relatives or others in excess of $500.00? Yes No

7. (a) Please list the banks that you are currently dealing with:

| | | | | Amount |

|Bank |Address |City |Postal |Currently |

| | | |Code |In Account |

| | | | | |

| | | | | |

| | | | | |

(b) Do you have a safety deposit box? Yes No

If so, which bank?

Please provide details of the contents:

8. Does anyone owe you any money? Provide details. Yes No

(a) Personal loans

(b) Accounts receivable

(c) Agreement for sale

(d) Other

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9. Do you currently own any of the following?

(a) Collectibles (stamps,coins, art, antiques, etc.) Yes No

(b) Savings bonds (owned presently or being purchased

on a payroll savings plan). Yes No

(c) R.R.S.P.'s Yes No

(d) Shares (owned presently or being purchased on a

payroll savings plan). Yes No

Please provide details

(e) Personal life insurance policies (please include Yes No

a copy of your life insurance policy).

| | Policy No. 1 | Policy No. 2 |

| | | |

|i) Life Insurance Company | | |

| | | |

|ii) Beneficiary | | |

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|iii) Cash Surrender Value | | |

10. Are you a beneficiary of a will or will you receive

an inheritance? Yes No

11. Has anyone started legal proceedings against you? Yes No

If yes, give details.

12. Do any of your debts arise from:

A fine or penalty imposed by court Yes No

A recognizance or bail bond Yes No

Alimony or maintenance payments Yes No

Fraud, embezzlement, misappropriation Yes No

Defalcation while acting in a fiduciary capacity Yes No

Obtaining property by false pretences/

fraudulent misrepresentation Yes No

13. For which year did you file your last income tax return?

Did you receive a refund? Yes No

Are there arrears owing? Yes No

Is there a copy available? Yes No

14. Are you paying/receiving any alimony or maintenance? Yes No

If yes, to/from whom Amount since January 1st $

Please provide a copy of the Court Order or separation agreement.

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15. Please describe briefly, the circumstances which caused your financial difficulties.

I HEREBY CERTIFY THAT THE INFORMATION CONTAINED IN THIS APPLICATION AND ATTACHED INVENTORY SHEET IS A TRUE, CORRECT AND COMPLETE STATEMENT THAT FULLY DISCLOSES THE STATE OF MY ASSETS AND LIABILITIES.

Your Signature Date

INVENTORY OF ASSETS Name:

HOUSEHOLD FURNITURE Address:

AND EFFECTS

| | | YEAR | CURRENT | | | | YEAR | CURRENT |

| |QTY |PURCH. |VALUE | | |QTY |PURCH. |VALUE |

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|LIVING ROOM | |KITCHEN |

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|Sofa | | | | |Table | | | |

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|Chair | | | | |Chair | | | |

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|Lamp | | | | |Small Appl. | | | |

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|Table | | | | |Pots/Pans | | | |

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|Stereo equip. | | | | |Dishes | | | |

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|Television | | | | |Microwave | | | |

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|Painting | | | | |Freezer | | | |

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|Piano | | | | |Fridge/Stove | | | |

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|VCR | | | | | | | | |

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| | | | | |BEDROOM #1 |

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|RECREATION ROOM | |Bed | | | |

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|Desk | | | | |Dresser | | | |

| | | | | | | | | |

|Chair | | | | |Night Table | | | |

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|Lamp | | | | |Drapes | | | |

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|Bookcase | | | | | | | | |

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|Computer | | | | | | | | |

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| | | | | |BEDROOM #2 |

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| | | | | |Bed | | | |

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|DINING ROOM | |Dresser | | | |

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|Table | | | | |Night Table | | | |

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|Chairs | | | | |Drapes | | | |

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|Cabinet | | | | | | | | |

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|China | | | | | | | | |

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|Silver | | | | |ANY ASSETS NOT LISTED ABOVE |

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| | | | | |Washer/Dryer | | | |

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|SPORTING GOODS/OUTDOORS | | | | | |

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|Barbecue | | | | | | | | |

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|Furniture | | | | | | | | |

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|Lawnmower | | | | | | | | |

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|Power Tools | | | | | | | | |

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|Bicycles | | | | | | | | |

| | | | | | |

|Ski Equipment | | | | |PERSONAL |

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|Cars | | | | |Clothing | | | |

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|Trucks | | | | |Jewellery | | | |

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BANKRUPTCY APPLICATION CHECKLIST

1. Application - complete all questions

2. Vehicles - copy of vehicle registration

3. Agreements - debentures, mortgages, separation, alimony, child support, leases, sales contracts, judgements, fines, wage assignments, court order.

4. Credit Cards - all must be turned over to the Trustee, including those with no balance

5. Life Insurance - copy of all policies - (cash surrender value not exempt)

6. Stock/Bonds/Securities - all pertinent documentation/statements

/RRSP's

7. Pay Stubs - most current one available

- if you are/were on UIC please supply all stubs for current year, as well as the UIC office address where application was made

8. Tax Information - copy of last return filed

- if you have not filed up to date, please provide information for Trustee to file any previous years (T4's, receipts, etc.)

- re current year - a list of all employers with gross earnings and deductions made for tax, CPP, UIC, union dues and any maintenance/support payments and spousal earnings.

9. Initial Payment to Bankruptcy Estate (to cover filing fees, mailings, etc.)

$ (by cash, certified cheque or money order only)

10. Postdated cheques -

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