Personal bankruptcy

Absolutely not. That said, it may be useful or advantageous to do so, but only if your financial situation justifies it.

Your BRESSE advisor will guide you through this process

Of course, often sooner than you think. If you adopt good financial habits during and after personal bankruptcy, you may be eligible for financing as soon as you are discharged, and even earlier in some cases.

No, the process is confidential and discreet. There is no longer mandatory publication in local newspapers for personal bankruptcies.

Your relatives, neighbors or employer will not be informed, unless they themselves are involved (for example, if a relative is a co-signer of one of your loans, or if a wage garnishment is already active with your employer, which will need to be stopped). Only your creditors and the tax authorities will be informed, in the strictest confidence. So you can get through this phase with dignity and without fearing for your reputation.

No, as a general rule, your bankruptcy will not be published in the newspaper, which guarantees you a discreet and confidential approach. Publication in the newspaper is only required in certain very specific cases. Your BRESSE advisor will be able to provide you with information on this subject at the initial examination of your case.

When you declare personal bankruptcy, a Licensed Insolvency Trustee files the required legal documents on your behalf and guides you through every step of the process. Once your bankruptcy is filed, collection calls typically stop, wage garnishments may be suspended (with some exceptions), and unsecured creditors can no longer pursue legal action to collect eligible debts.

Throughout the process, you'll have certain responsibilities, such as reporting your income, making any required payments, and attending financial counselling sessions. The length of a bankruptcy depends on your circumstances but generally lasts between 9 and 21 months for a first-time bankruptcy.

At BRESSE Syndics, our experienced Licensed Insolvency Trustees provide personalized, confidential support to help you understand your options and navigate the bankruptcy process with confidence. From your initial consultation to your discharge, we're here to help you achieve a fresh financial start.