Bankruptcy Saskatchewan

Bankruptcy Saskatchewan -  Understand your options

To learn about your options, your first step should be to find a trustee near you.   Bankruptcy Trustees are licensed by the federal government and will provide a free, non-judgmental consultation.

Trustees know the law and understand your rights.  At the free consultation your trustee will review your finances, explain the legal options and help you to decide which will be best for your situation.

Unfortunately, at this time Personal Bankruptcy Canada does not have any trustees located in Saskawchewan, but help IS available. If you are ready to get help now, find a trustee near you by visiting the Office of Superintendent of Bankruptcy.

If you are having difficult with debt in Saskatchewan, you don’t have to feel alone.  In 2013, trustees assisted over 1,800 of your fellow Saskatchewan citizens file for insolvency.

If you are living from paycheque to paycheque and cannot pay your bills, it’s time to take steps towards debt relief. For some, a good budget or credit counseling can be the answer, for others, filing for bankruptcy or a consumer proposal can provide you with a financial fresh start.  You do have options.

Saskatchewan Bankruptcy Laws.

You will never lose all your possessions in a Saskatchewan bankruptcy, but you may required to turn over certain assets to the bankruptcy estate in exchange for the elimination of your unsecured debt.  To learn which assets you keep and which you will give up if you file for bankruptcy, contact a Saskatchewan Bankruptcy Trustee by completing the Get Help With My Debt form in the sidebar of this page.

In general, when you file for bankruptcy in Saskatchewan, you can usually keep the following assets:

  •  Clothing and jewelry for you and your dependents valued up to $7,500
  •  Household furnishings and appliances
  • One motor vehicle valued up to $10,000
  •  Medical and dental aids required by you and your dependents
  • Equity in your principal residence of $50,000
  • Your homestead, provided it is not more than one hundred and sixty acres
  • Personal property up to $4,500 that you use to earn income from your occupation
  • Pets valued up to $2000
  • Your Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs) except contributions made in the last year

Farmers in Saskatchewan may keep:

  •  Necessary clothing for you and your dependents
  • Household furnishings and appliances valued up to $10,000
  • Grain, flour, vegetables and meat, whether prepared for use or on foot, sufficient when converted into cash to provide food and fuel for heating purposes for you and your dependents until the next ensuing harvest
  • All livestock, farm machinery and equipment, including one automobile, reasonably necessary to carry on operations for the next 12 months
  • The books related to a profession practiced by the farmer
  • Tools valued up to $4500 that you use to earn income from your occupation
  •  Medical and dental aids required by you and your dependents
  • Equity in your principal residence of $32,000
  • Your homestead, provided it is not more than one hundred and sixty acres
  • Seed Grain equal to two bushels per acre of land under cultivation
  • Crop sufficient to cover costs of harvesting, operating the farm, and living expenses until the next harvest
  • Your Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs) except contributions made in the last year

These exemptions are current to March 2014, but changes do occur.  Please visit a Trustee to learn how bankruptcy will affect your situation, and if any amendments have been made to the federal or provincial bankruptcy legislation.

 

Saskatchewan Bankruptcy FAQs

Saskatchewan Help & Resources

If you know of any free or affordable SASKATCHEWAN services, please send them to us for review at resources@personalbankruptcycanada.ca.

Saskatchewan Assistance Program (SAP)
The Saskatchewan Assistance Program is a program of last resort for Saskatchewan families and individuals who, for various reasons, including disability, illness, low income or unemployment, cannot meet basic living costs. This Saskatchewan Assistance Program Checklist will help you to gather all you need to bring to your meeting.

Saskatchewan Legal Aid Commission

The Legal Aid Act establishes the Saskatchewan Legal Aid Commission to provide legal services to persons and organizations for criminal and civil matters where these persons and organizations are financially unable to secure those services from their own resources

Waterston Centre
Provides temporary shelter for men. Different support services are available. Food is also available for those in need twice a week

YWCA of Regina
Provides emergency shelter, affordable long-term accommodation, childcare and fitness programs, and violence interventions.

Regina Food Bank
Offers food hampers, clothing and furniture. Educational programs are also available.

The Friendship Inn
Offers breakfast and lunch

The Bridge on 20th
Soup Kitchen Monday – Thursday 12-1:30 pm, Saturday 12-3pm

Saskatoon Food Bank
The Food Basket Program provides 2 to 3 days of emergency food for anyone in Saskatoon and area (a 50 km radius) in need.  A person can access a food basket once every 14 days.