Help I Owe 8000 Is Bankruptcy A Good Idea

2010-10-19

Generally, if you owe $5,000 or less, I would recommend that you not do a bankruptcy.  There are usually other solutions that would be better choices for you.  Would bankruptcy be the right solution for $8,000 in debt?  It depends on your income and ability to pay.  If you want to provide some more information about your income and who the creditors are, I can give you some advice as to what makes sense. Judy Scott Trustee Meyers Norris Penny Port Moody - Burnaby - Maple Ridge, BC [email protected] 604-949-2113

Latest Blog Posts

2025-09-12

To be or not to be — a director. That is the question.

Pamela Meger

Thinking of becoming a company director in Canada? Sure, it’s an impressive title. But it’s also a serious legal responsibility.

Read More

2025-09-04

Will Bankruptcy Erase All Of My Debt?

Mary Plahouras Rob Shier

Bankruptcy

The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.

Read More

2025-09-02

How to budget when you’re living paycheque to paycheque

Caryl Newbery-Mitchell

Lifestyle Debt Debt Solutions

You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.

Read More

Consultation icon