Bankruptcy: Helping you regain control

Transcript: Bankruptcy: Helping you regain control

(Our host is looking at a tablet computer and then turns toward the camera.)

Hi, I'm Philippe, and I work for Industry Canada. Here at Industry, we support Canadian businesses and consumers in many ways like… helping them through bankruptcy.

Text on screen:
Know your rights. Meet your responsibilities.

There is no question: Bankruptcy is difficult for everyone involved.

(An illustration of an out-of-balance scale appears as our host speaks.)

Any economic system that rewards market success also has to have rules about what happens in cases of failure. Bankruptcy in Canada is a legal process, and the rules make sure that everyone's rights are respected.

(The scale moves into a balanced position.)

(A new illustration of an upward-trending line graph appears over a maple leaf.)

This, in turn, maintains everyone's confidence in the Canadian marketplace.

(An illustration of a growing pile of invoices and a calculator appears.)

If you have overwhelming debt, you may be considering bankruptcy.

(A screen capture of our website appears. The "You owe money" tab is featured.)

We can help you understand your options.

(A screen capture of our website appears. The web page is titled: "Declaring bankruptcy" and features available guides.)

And, if bankruptcy is your only option, we have resources to help you understand the process from start to finish.

(Screen captures of our website appear as our host speaks. The web pages feature text: "You are owed money" and "Find out if money is owed to you.")

If you are a creditor who is owed money, we have the tools you need to regain what you can — tools that allow you to:

  • See if someone that owes you money has declared bankruptcy or filed a proposal; and
  • Tools to help you find and claim money owed to you from a past bankruptcy.

(A screen capture appears showing the tab "For trustees.")

If you are a trustee, we have a one-stop shop for all of the forms, policies and information you'll need to serve your clients, to renew or modify your licence and to stay on top of legislative amendments.

Finally, detailed bankruptcy statistics, records and analysis are available for everyone.

(An illustration of a maple leaf with clusters of people on top appears.)

Helping you regain control: It's a part of what we do for you.

(Industry Canada signature and Canada wordmark)

End of transcript

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