Filing for Personal Bankruptcy

Bankruptcy & Licensed Insolvency Trustees Helping People File for Bankruptcy.

Our firm of bankruptcy insolvency trustees has been helping people for over forty (40) years, to file for bankruptcy and we can help you.

The Ontario government through the office of the Superintendent of Bankruptcy provides a bankruptcy process through licensed bankruptcy insolvency trustees to help you get out of debt.

Filing for bankruptcy can help you get out of debt, give you a fresh start and get you back on your feet financially.

As licensed insolvency trustees, our job is to help you with bankruptcies, consumer proposals and to provide financial counselling.

Live debt free by calling us today!

Who Can File for Bankruptcy

All  Canadian citizens who cannot pay their bills can seek the help of an insolvency trustee.

You might consider bankruptcy when you are;

  • unable to pay your bills each month,
  • you have credit card bills that are over their limit,
  • you have maximized your means to secure more credit,
  • you have credit agencies calling you for payments,
  • your financial situation has gotten out of control,

For a bankruptcy you must be more than one thousand (1000,00) dollars in debt.

How to File for Bankruptcy

Where an individual is considering filing for bankruptcy they must met with a licensed insolvency trustee to discuss their debts and financial issues.

Insolvency trustees are the only persons allowed by law through the Canadian Superintendent of Bankruptcy to help people to either file for bankruptcy or to administer a consumer proposal for their debt problems.

There is no cost to discuss your finances with the trustee.

The bankruptcy trustee will;

  • listen to you in a non-judgmental atmosphere,
  • explain to the options available to you, and
  • provide you advice how best to deal with your financial problem.

We can explain to you how you can avoid filing for bankruptcy, setting up a consumer proposal or give you financial counselling.

This initial free meeting is your opportunity to discuss your finances, to ask any questions and to learn how to stop your consumer debt problems.

Call us today or contact one of our local offices >

Your Meeting with the Bankruptcy and Insolvency Trustee

During this free initial meeting to discuss your finances we can give you answers about;

As required by the law, the bankruptcy and insolvency trustee is there to help you get out of debt and help you manage your finances for the future.

The Canadian government realizes that it is in the public interest and good for society as a whole, to help individuals through insolvency trustees rather than to have people and families suffer through continued hardship with financial issues.

Call us today to make an appointment to discuss your financial health.

What are the Advantages to Filing for Bankruptcy

In bankruptcy there are advantages and disadvantages.

The advantages are;

  • Any wage garnishees are removed and stopped.
  • Any legal actions in regards to financial issues are stopped.
  • Collection agencies stop calling you looking for bill payments.
  • Most people have a personal sense of relief that they are doing something to help themselves,

A personal bankruptcy ends any personal debts that you have and all unsecured debts are ended.

The cost of a personal bankruptcy may be less than a consumer proposal or debt consolidation loan, and the process is sometimes faster.

Start living debt free and call us today >

Disadvantages to filing for Bankruptcy

Although entering into a bankruptcy can have positive implications, there are negative issues that you should consider;

  • A bankruptcy is bad for your credit and credit history, but for most people considering bankruptcy their credit rating is already in bad shape.
  • Once you do apply for bankruptcy you’ll be unable to get credit. As most people have already exhausted their available credit, it maybe a good thing that you avoid any credit debt for a while.
  • Once you have been through the bankruptcy process and your bankruptcy is discharged you will have to start over to build a good credit history.
  • When you apply for bankruptcy you maybe required to give up some of your personal possessions to the Licensed Insolvency Trustee and keep records of your finances, expenses and income during the bankruptcy.

Although going bankrupt will affect your credit and credit rating, most people considering a personal bankruptcy are already in the position of having bad credit.

By entering into a personal bankruptcy, you’re taking the first step to improving your life and and financial health.

Call us to day or visit our offices to take the first steps to living debt free >

Contact Us

Contact Us

Have a bankruptcy, consumer proposal or financial issue you'd like to discuss? Send us and email and we respond within four (4) hours.

The information provided within this website about filing for bankruptcy and financial issues is protected by copyright law. Any distribution or reproduction in anyway, shape, means or manner is expressly prohibited by law without the the prior written consent of the owner(s) of the copyright.

This site is for information only and is not meant to replace qualified legal advice by a licensed insolvency trustee, the writers shall not be held responsible for any information that may be incorrect or out of date. The owners of this website recommend that anyone wishing to learn about going bankruptcy or consumer proposals contact our office for qualified advise from a bankruptcy trustee.