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Declare that everything is under control
and that tomorrow really is a new beginning™.

Personal Bankruptcy Solutions in Ottawa and Virtual Locations Throughout Ontario

Filing For Bankruptcy is a Last Resort. We Can Help.

Personal bankruptcy is a legal process that provides financial relief to individuals who are unable to pay their credit card balances, payday loans, lines of credit and other unsecured debts. If you’re insolvent and ineligible to file a consumer proposal, the team at D. & A. MacLeod Company Ltd. can help. We’re available for in-person and remote consultations with clients across Canada.

Contact us today to schedule a free consultation with one of our licensed insolvency trustees in Ottawa or at one of our seven locations across Eastern Ontario.


If you decide to file for personal bankruptcy, you may be required to surrender certain non-exempt assets to a licensed insolvency trustee. The assets will be held in trust to be distributed for the general benefit of creditors in accordance with the Bankruptcy and Insolvency Act (BIA). In exchange, you’ll be freed from the burden of most, if not all, of your unsecured debts.

For the duration of your bankruptcy, you’ll be required to report your income to your licensed insolvency trustee. While you’re allowed to keep a portion of your income, any amount over the set limit (referred to as surplus income) will be taken into consideration with respect to the amount required to be paid towards your bankruptcy.

Additionally, you’ll need to attend two financial counselling sessions to be eligible for discharge from your debts. At D. & A. MacLeod Company Ltd., our advisers will teach you how to rebuild your credit and put you in the best position to enjoy long-term financial stability.


In Canada, you must work with a licensed insolvency trustee (LIT) when filing for bankruptcy. LITs are highly trained and educated debt experts, adhering to a firm code of ethics and strict government regulations. When you work with a LIT, you can be confident you’re dealing with someone who has demonstrated they have the knowledge, experience and skills to be granted a licence from the Office of the Superintendent of Bankruptcy (OSB).

When you file for bankruptcy, your LIT acts as a third party to deal directly with creditors on your behalf. They’ll also assist you in completing all the necessary bankruptcy forms and filing documents with the OSB. Your LIT’s job is to ensure all bankruptcy laws are respected and that the process is fair for both you and your creditors.


Since licensed insolvency trustees are the only professionals in Canada authorized to administer a personal bankruptcy, our friendly team has become a trusted source for effective insolvency solutions in Ottawa and surrounding communities in Eastern Ontario. We have over 70 years of experience helping hard-working people like you get the fresh start they deserve.

From helping you make the decision to declare bankruptcy to preparing the final statement of receipts and disbursements, our licensed insolvency trustees will be with you every step of the way. In addition to filing the necessary paperwork on your behalf, you can count on our licensed insolvency trustees to ensure your rights are respected throughout the bankruptcy process.

Our team can help you determine if bankruptcy is the right debt relief option for you and provide effective solutions to improve your financial situation. We also offer credit counselling and consumer proposal services.


There are several advantages to filing for bankruptcy, including:

Legal action from creditors will immediately halt

Calls from collectors/creditors will stop

Your wages will no longer be garnished

Certain assets are protected (e.g., your home, RSPs); and

You can resolve your debt problems and have a fresh start without the stress of your existing financial situation.


If this is your first bankruptcy, you’ll likely be discharged from your debts after nine months. If you’re required to make surplus income payments, however, the process will be extended to 21 months.

In either case, information about your bankruptcy will remain on your credit report for six years after the date of your discharge from bankruptcy.


If you file for a second bankruptcy, the minimum duration is 24 months. In some cases, it can take upwards of 36 months to be discharged from your debts. Additionally, a second bankruptcy will remain on your credit report for 14 years after the date of your discharge from bankruptcy.

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If you can’t see a way forward out of debt, the licensed insolvency trustees at D. & A. MacLeod Company Ltd. can help. We have over 70 years of experience helping clients across Ontario file for personal bankruptcy and find a new beginning™. We have offices in Brockville, Cornwall, Kanata, Kingston, Ottawa, Pembroke and Smiths Falls. To schedule a free consultation, contact us today.

Financial expert showing documents to the clients


Over 70 Years' Experience = Solutions = Results

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