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Often times when you think about bankruptcy, negative thoughts come to mind. Yet, bankruptcy is neither a shameful course of action, nor does it reflect on your credit forever. Any individual or business has a right to file bankruptcy when they feel overwhelmed by their debt problems.  Read More

When you decide to seek the help of a Licensed Insolvency Trustee to manage accumulating debt, you will be offered a number of debt management solutions, with the two most common being filing for bankruptcy or debt consolidation, or proposal, services. Both options offer significant benefits, but which one is right for your situation?  Read More

It’s unfortunate that many individuals are afraid to declare bankruptcy because they feel that their peers, colleagues, or even employers will view them as irresponsible. Yet, there are many genuine reasons that could move a person towards filing bankruptcy, from lost or diminished income due to the death of a spouse to severe illness to divorce.  Read More

Many Canadians struggle with debt for longer than they need to because of the fear that declaring personal bankruptcy could tarnish their image. However, there are numerous challenges that cause another 120,000+ Canadians to file for bankruptcy annually. You’re not alone.  Read More

There’s a difference between refusing to pay your debt and being unable to pay your debt. In Canada, the Bankruptcy and Insolvency Act (BIA) assumes that the debtor is “innocent,” and filing for bankruptcy is a financial rehabilitative process rather than a punitive one.  Read More

Consumers overwhelmed by debt have a number of options for getting their finances back in order. While the requirements for some forms of reducing debt, like credit consolidation, are clear, those for bankruptcy are often misunderstood, causing many people to delay the bankruptcy process.  Read More

Discharging your debts is a major achievement – and typically the final step of the bankruptcy process. However, there are some instances when the bankruptcy continues after a failed discharge, requiring the continued participation of the court, the creditors, and your licensed insolvency trustee.  Read More

When overwhelmed with debt, many consumers opt for consolidation services to simplify their debt management, maintain access to credit, and safeguard their credit rating. But there are some cases where filing for bankruptcy is the better alternative to obtaining debt relief.  Read More

For many businesses struggling with debt, filing for bankruptcy is one of the best strategies to obtain relief. Bankruptcy can help you to reorganise debt, keep the venture running and achieve financial freedom.  Read More

Unfortunately, life may not always go as planned and depending on certain circumstances, we can find ourselves in serious debt. Bankruptcy may not be an option for everyone, however here are some important signs to notice if you are headed for bankruptcy.  Read More