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Canadian Bankruptcy Calculator. Cost and How Long in Bankruptcy.

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Bankruptcy Calculator

Fill out the form below and the Canadian Bankruptcy Calculator will tell you how long your bankruptcy will last and the monthly payments that will be required.

Want to Talk to a Trustee in Bankruptcy About Your Results? Call 1-877-971-9411.

If your monthly payments are less than $100.00 per month, and you are a first time bankrupt, you are eligible for a discharge in 9 months. Please note that you are responsible for paying a minimum of approximately $1,800.00 to the trustee over the term of your bankruptcy.

Use our debt calculator for four payment options that will get you out of debt in five years.


Bankruptcy Discharge Rules:

- 9 month automatic discharge for 1st. time bankrupts who fulfill all their duties and who do not have excess income. (Required monthly payment of less than $100.00 per month)

- 21 months (or more at the court's discretion) for 1st. time bankrupts who fulfill all their duties. and who have excess income. (Required monthly payment of $100.00 per month or greater)

-24 months for 2nd time bankrupts who do not have excess income.(Required monthly payment of less than $100.00 per month)

-36 months for 2nd time bankrupts who have excess income. (Required monthly payment of $100.00 per month or greater)

-Bankrupts with personal income tax debt of $200,000.00 or more representing 75 percent or more of total unsecured claims, are not eligible for an automatic discharge. They must go to court for an adjudication.




How the payments required in a bankruptcy are set.

The Superintendent of Bankruptcy sets guidelines spelling out how much a person should pay to the bankruptcy estates and how long a person will be in bankruptcy.

Superintendent's Standards - 2017/18

Appendix A

Surplus Insome



Example (Family unit of 2):

Bankrupt's available monthly income:

$2,800

Other family unit member's available monthly income:

$1,000


Family unit's available monthly income:

$3,800

Minus the Superintendent's standard for a family unit of 2 as per Appendix A:

$2,640


Total monthly surplus income

$1,160

Bankrupt's portion of the family unit's monthly income
(2,800 ÷ 3,800 = 73.68 %)

$854.69

Monthly Payment required from bankrupt, as per paragraph 7(2)(a) of the Directive [854.69) × 50 % = 427.35]

$427.35


If your monthly payments are calculated to be less than $100.00 per month, and you are a first time bankrupt, you are eligible for a discharge in 9 months. Please note that you are responsible to pay a minimum of approximately $1,800.00 to the trustee over the term of your bankruptcy.


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