Options – Quebec

Options - Quebec

If you have tried the options described in the Before You Go Further section other options apply to you (see below).

Voluntary Deposit Service
Voluntary deposit is a measure contained in the Quebec Code of Civil Procedure that allows you to repay your debts by depositing with the Court a portion of your earnings determined by law. The amount deposited is then distributed to creditors proportionally to their claims. By opting for voluntary deposit, you avoid having to declare personal bankruptcy. Another feature to consider is the fact that you are protected from seizure of your salary or wages, or your earned income if you are self-employed. This protection extends to the furniture in your main residence used by the family as basic necessities (refrigerator, stove, table, chairs, beds, etc.). To learn more please visit the Justice Québec website.

Consumer Proposal
A consumer proposal is an offer made by a debtor (through a trustee in bankruptcy or a person appointed by the Office of the Superintendent of Bankruptcy to administer consumer proposals) to his or her creditors to modify his or her payments. To learn more about consumer proposals visit the Office of the Superintendent of Bankruptcy websi te.

Bankruptcy
Bankruptcy is a legal process performed under the Bankruptcy and Insolvency Act. Because of your inability to pay your debts, you assign all of your assets, except those exempt by provincial law, to a licensed trustee in bankruptcy. This process relieves you of most debts, and legal proceedings against you by creditors should stop. To learn more about bankruptcy visit the Office of the Superintendent of Bankruptcy websi te.

Warning Signs of Debt | Before going further | "Last resort" options |  Information on collection agencies | Credit and Credit Repair | Resources for educators