{"id":57280,"date":"2023-07-31T18:38:22","date_gmt":"2023-07-31T18:38:22","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/"},"modified":"2026-02-02T15:30:10","modified_gmt":"2026-02-02T20:30:10","slug":"personal-bankruptcy","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/","title":{"rendered":"Personal Bankruptcy"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-group is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-ce2ebfd8 wp-block-group-is-layout-constrained\">\n<p class=\"h3\">When financial stress overwhelms you, bankruptcy may seem like the only option &#8211; but it doesn&#8217;t have to be. Explore your options and take the first step towards a stronger financial future.<\/p>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-cd15a043-a65b-425f-8a1a-e4789e12d13e\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-t-0 pad-b-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns  mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column mar-r mob-mar-r-0 mob-mar-b-dbl is-layout-flow wp-block-column-is-layout-flow\">\n<article id=\"post-58171\" class=\"loop-post featured-vertical mob-pad-b-dbl post-58171 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_audience-business-owners rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-debt-stress-relief rbc_mmm_category-personal-bankruptcy\">\n\t<div class=\"col-wpr mar-b-0\">\n\t\t\t\t\t<div class=\"col-md-12 mar-b mob-mar-b-dbl\">\n\t\t\t\t<div \n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Two male hands shaking over paperwork and a gavel on a desk\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"680\"\n\t\t\theight=\"453\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-20T150458.605.jpg?quality=80&#038;w=680\"\n\t\t\talt=\"Two male hands shaking over paperwork and a gavel on a desk\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\tstyle=\"object-position: 50% 50%; \"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t<div class=\"col-md-12 mob-mar-t-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/understanding-the-bankruptcy-process\/\" class=\"h3 loop-post-title mar-t-0\">Understanding the Bankruptcy Process<\/a>\n\t\t\t\t\t\t\t<p>Understand the steps to take in order to file for bankruptcy in Canada.<\/p>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/article>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-rbc-rbccom-latest-posts\">\n<article id=\"post-58169\" class=\"single-post-card-wrapper post-58169 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-debt-stress-relief rbc_mmm_category-personal-bankruptcy\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/bouncing-back-rebuilding-credit-after-bankruptcy\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">Bouncing Back: Rebuilding Credit After Bankruptcy<\/a>\n                    <p class=\"post-description\">Use these strategies to rebuild your credit after bankruptcy. It takes time and effort, but improving your credit score is entirely doable.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n\n\n\n<article id=\"post-58157\" class=\"single-post-card-wrapper post-58157 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-credit-and-borrowing rbc_mmm_category-debt-stress-relief rbc_mmm_category-money-academy rbc_mmm_category-personal-bankruptcy rbc_mmm_category-understanding-credit-and-credit-scores\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/what-happens-to-your-credit-score-if-you-declare-bankruptcy\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">What Happens to Your Credit Score If You Declare Bankruptcy?<\/a>\n                    <p class=\"post-description\">How declaring bankruptcy affects your credit score, and ways to minimize the impact.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n\n\n\n<article id=\"post-58185\" class=\"single-post-card-wrapper post-58185 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_audience-newcomer rbc_lob_group-newcomer rbc_difficulty_level-beginner rbc_mmm_category-banking-in-canada rbc_mmm_category-life-events rbc_mmm_category-new-to-canada\">\n  <div class=\"wp-block-rbc-single-post-card\">\n    <div class=\"latest-post-card\">\n      \t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t              <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/new-to-canada\/banking-in-canada\/building-a-strong-credit-history-in-canada-a-guide-for-newcomers-2\/\" class=\"h4 post-title mar-b-hlf mar-t-0 truncate-third-line\">Building a Strong Credit History in Canada:  A Guide for Newcomers<\/a>\n                    <p class=\"post-description\">Understand how credit works in Canada to help you build your financial future.<\/p>\n          <\/div>\n  <\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-t-0 pad-b-0\" style=\"border-radius:0x\">\t\n\t<div class=\"wp-block-tk-spacer id-2050a74d-7eae-4d40-b694-e350aaa13c36\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<h2 class=\"wp-block-heading mar-b mob-mar-b\" id=\"h-more-from-personal-bankruptcy\">More From Personal Bankruptcy<\/h2>\n\n\n\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:60%\">\t\t<div class=\" wp-block-rbc-latest-posts wp-block-rbc-latest-posts-type-2\">\n\t\t\t\n<article id=\"post-78984\" class=\"rbc-latest-posts-content-card-type-2 post-78984 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry rbc_content_type-article rbc_audience-business-owners rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-debt-stress-relief rbc_mmm_category-personal-bankruptcy\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Woman looking at her laptop screen, pondering pressing questions\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/11\/Personal_Bankruptcy_Questions_.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Woman looking at her laptop screen, pondering pressing questions\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/personal-bankruptcy-in-canada-your-top-10-questions-answered\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Personal Bankruptcy in Canada: Your Top 10 Questions Answered<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Learn how personal bankruptcy works in Canada, who is eligible, and explore alternatives like consumer proposals. Get answers to the top 10 questions.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-78984 -->\n\n<article id=\"post-84978\" class=\"rbc-latest-posts-content-card-type-2 post-84978 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_audience-business-owners rbc_lob_group-business rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-debt-stress-relief rbc_mmm_category-managing-and-consolidating-debt rbc_mmm_category-personal-bankruptcy\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"woman at a table working thru her bills with a calculator\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"360\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2024\/02\/woman-emergency-story.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"woman at a table working thru her bills with a calculator\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/struggling-to-make-ends-meet\/managing-and-consolidating-debt\/emergency-budgeting-tips-for-canadians-stretching-your-dollar-in-tough-times\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">Emergency Budgeting Tips for Canadians \u2013 Stretching Your Dollar in Tough Times<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Need your money to go further? These seven budgeting tips can help you save money and stretch your cash to cover your day-to-day costs.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-84978 -->\n\n<article id=\"post-74568\" class=\"rbc-latest-posts-content-card-type-2 post-74568 rbc_my_money_matter type-rbc_my_money_matter status-publish has-post-thumbnail hentry tag-credit-and-debt rbc_content_type-article rbc_difficulty_level-beginner rbc_mmm_category-bankruptcy rbc_mmm_category-debt-stress-relief rbc_mmm_category-personal-bankruptcy\">\n\t<div class=\"col-wpr display-flex mar-b-0\">\n\t\t\t\t\t<div class=\"col-xs-5 mar-b-0\">\n\t\t\t\t<div\n\t\t\t\t\trole=\"img\"\n\t\t\t\t\taria-label=\"Stressed woman looking at her computer and her bills at the kitchen table\"\n\t\t\t\t\tclass=\"post-card-image\"\n\t\t\t\t>\n\t\t\t\t\t\t\t<img\n\t\t\tdecoding=\"async\"\n\t\t\tloading=\"lazy\"\n\t\t\twidth=\"640\"\n\t\t\theight=\"427\"\n\t\t\tsrc=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-08-30T142106.638.jpg?quality=80&#038;w=640\"\n\t\t\talt=\"Stressed woman looking at her computer and her bills at the kitchen table\"\n\t\t\tclass=\"wp-post-image\"\n\t\t\t\t\t\/>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"mar-t-0 col-xs-7\">\n\t\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/debt-and-stress-relief\/bankruptcy\/personal-bankruptcy\/6-strategies-to-help-avoid-personal-bankruptcy\/\" class=\"h4 card-title loop-post-title mar-b-hlf mar-t-0 mar-b-0\">6 Strategies to Help Avoid Personal Bankruptcy<\/a>\n\t\t\t\t\t\t\t\t\t<p class=\"mar-t-hlf\">Strategies to help individuals who want to avoid personal bankruptcy.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t<\/article><!-- #post-74568 -->\n\t\t\t\t\t<div class=\"load-more-button text-center mob-pad-t-hlf pad-t\">\n\t\t\t\t\t\t<button class=\"btn tertiary mar-t-0\">View More Articles<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t<\/div>\n\n\t\t<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:10%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:30%\">\t\n\t<div class=\"wp-block-tk-spacer id-fcac475c-5d55-4dd2-af5e-d1c93373bba5\" aria-hidden=\"true\"><\/div>\n\t<\/div>\n<\/div>\n<\/div>\n<\/section>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-8b44dce8-9049-4d7f-8c74-34072c6a1b0d\" aria-hidden=\"true\"><\/div>\n\t<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-cd15a043-a65b-425f-8a1a-e4789e12d13e {\n\t\theight: 64px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-cd15a043-a65b-425f-8a1a-e4789e12d13e {\n\t\t\theight: 64px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-2050a74d-7eae-4d40-b694-e350aaa13c36 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-2050a74d-7eae-4d40-b694-e350aaa13c36 {\n\t\t\theight: 64px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-fcac475c-5d55-4dd2-af5e-d1c93373bba5 {\n\t\theight: 32px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-fcac475c-5d55-4dd2-af5e-d1c93373bba5 {\n\t\t\theight: 1px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-8b44dce8-9049-4d7f-8c74-34072c6a1b0d {\n\t\theight: 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