What are my Duties as a Bankrupt?

When your Licensed Insolvency Trustee is appointed, you become bankrupt, and you are referred to as an undischarged bankrupt. As such, you have certain Duties of a Bankrupt and responsibilities under the Bankruptcy and Insolvency Act. In summary, you must cooperate with your Licensed Trustee to complete the administration process as quickly and smoothly as possible.

Here is a summary of your Duties. You must

✔    provide information and documentation to your Trustee about assets you
       own 
in Canada or elsewhere

✔    provide information and documentation to your Trustee about creditors you
       owe
, including friends, relatives, lenders or businesses

✔    disclose information to your Trustee about any property, asset or cash you
       sold, transferred, gave away, cashed in, or disposed of within 12 months
       before your date of bankruptcy

✔    disclose information to your Trustee about any property, asset or cash you
       sold, transferred, gave away, cashed in, or disposed of, including real estate,
       within 5 years before your date of bankruptcy

✔    provide information and documentation of all your books and records or
       business transactions requested by your Trustee

✔    provide all your credit cards to your Trustee even if there is nothing owing

✔    attend meetings when required by your Trustee, your creditors or the Official
       Receiver and answer all questions truthfully

✔    attend your first and second Counselling Sessions within the required time
       frames

✔    provide monthly income and expense information and documentation to
       your Trustee and inform your Trustee of any changes in your financial
       circumstances or number of people in your family unit

✔    pay any Bankruptcy Surplus Income required under Section 68 of the
       Bankruptcy and Insolvency Act to your Trustee

✔    provide income tax information and documentation to your Trustee so your
       Trustee may file your income tax returns on time

✔    keep your Trustee advised of your whereabouts, or place of residence, and
       changes in your phone number, email address, or residential address

✔    generally do such things or acts as may reasonably be required by your
       Trustee, or prescribed under the Bankruptcy and Insolvency Act, or directed
       by the Court