Photo by Melinda Gimpel
Originally Posted On: https://foxmiles.ca/blog/should-i-file-for-bankruptcy/
Are you having trouble making payments? Credit cards, car loans, mortgage payments, CRA tax debt, business debt are just some of the types of debt bankruptcy we can help you navigate.
Are Creditors harassing you? Bankruptcy helps to deal with creditors by placing a stay of proceedings on collections, which stops collections and provides immediate relief to your monthly debt obligations.
Are you feeling stressed? When in financial difficulty, the amount of stress that builds up over time can seem inescapable and tends to affect all aspects of life, from business to personal relationships. Bankruptcy helps alleviate the burden of debt while providing a structured financial solution that is possible for your fresh start.
Many people find their stress levels decrease significantly when they decide to go bankrupt. They no longer have the burden of dealing with the daily stress of their debts. The licenced insolvency trustee under the authority of the Bankruptcy and Insolvency Act of Canada takes charge.
With the economic uncertainty people are experiencing due to COVID-19, there will be many people who go bankrupt. Trust a professional to help get you back on your feet.
WHAT IS BANKRUPTCY?
Bankruptcy is an insolvency process under federal legislation with contributing provincial laws administered by the court of queens to get you a fresh start with your finances with help learning to identify the risk factors that lead to bankruptcy and how to prevent a future bankruptcy.
WHAT DO YOU NEED TO QUALIFY FOR A BANKRUPTCY DECLARATION?
BENEFITS OF BANKRUPTCY
NEGATIVES OF BANKRUPTCY
OTHER OPTIONS INSTEAD OF GOING BANKRUPT
Bankruptcy is available to anyone in distress; however, individuals may be seeking a reasonable alternative to bankruptcy, and a proposal is an option provided within the law. A proposal process offers a solution to debts without the requirements expected of you in a bankruptcy proceeding. Still, it arrives at the same goal of you being relieved of your debts and moving forward with your life and leaving the crushing debt you were carrying behind you.
WHY CHOOSE FOX-MILES
Rhonda Fox-Miles comes from a social work background, which helps her understand what you are going through. Fox-miles will always treat you with dignity, respect and kindness. It can be a stressful time; chose a trustee that treats you like a person, not a number.
We always focus on you. Not just the numbers. We try to make this process as pain-free as possible. We address the root of the problem, not just the symptoms. We want you to succeed.
Call Fox-Miles and associates for your free non-judgemental consultation today. We help you wipe your slate clean.