If you’re looking to break free of personal debt once and for all, we can help. We provide debt and bankruptcy solutions that are life-changing and permanent, so you can erase debt from your life.
Debt can be overwhelming. For that reason, our Licensed Insolvency Trustees are always here for you. let’s discuss the options available to you. Your debt-free future starts now.
While a corporation is intended, in part, to provide an individual with separation or protection from company debts, a personal director liability can be incurred on GST, PST and source deductions.
Wondering if you’re debt load is putting you in a precarious situation? Let’s take a look at the numbers.
Sometimes a financial institution or other form of lender will not grant credit to an individual or company (the “borrower”) unless someone else provides a guarantee. This can be potentially dangerous because if the borrower defaults on the loan, the lender will pursue you (the “guarantor”) for payment.
Trying to maneuver through unmanageable debt can be exhausting and overwhelming. Even more so if you are trying to navigate your finances from a secondary location.
Only a government licensed Trustee in Bankruptcy can file a bankruptcy on your behalf in Canada. As part of this process, your Trustee will first conduct a comprehensive assessment of your financial situation to determine if a bankruptcy is your best option and an appropriate course of action.
Dealing with the stress of unmanageable debt is exhausting. Once you’ve decided that enough is enough and it’s time to face your financial situation head on, trying to navigate through the process of finding the best options available for dealing with your financial distress – can be overwhelming. With literally hundreds of companies advertising debt management solutions, it’s difficult to know who to trust or where to turn.
Consumer proposals and bankruptcies are both government legislated options which can provide you with relief from significant debt problems. In addition, both types of proceedings are administered by a government licensed Trustee and provide a legal stay of proceedings such that creditors must discontinue harassing collection calls, garnishment or other legal proceedings.
Upon filing for bankruptcy, there are a number of duties that you must complete which include paying fees, participation in two debt counseling sessions and submission of monthly income and expense statements.
If you have severe debt problems, filing for bankruptcy may be an option. However, it is a decision that should not be taken lightly. Consider some of the following pros and cons of filing for bankruptcy:
Bankruptcies and consumer proposals are government legislated options that may assist you in addressing your debt problems. In either proceeding, the bankruptcy or consumer proposal is filed with the Office of the Superintendent of Bankruptcy (OSB) and is a matter of public record.
*310-DEBT doesn’t operate in MB, NW ON and QC.
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