In deciding upon should you declare bankruptcy you should first think about a consumer proposal, thereby avoiding filing for bankruptcy.
Many people upon speaking with us learn that they do not have to declare bankruptcy and a consumer proposal can solve their debt problems.
In a bankruptcy, you’re unable to pay your debt and don’t usually have much left over after paying your basic necessities.
In a consumer proposal, on the other hand, you have the ability to pay at least a portion of your debt, stop interest compounding and giving you more time to pay without penalties. Read more about consumer proposals versus filing for bankruptcy >