The following changes are now in force as of July 7, 2008.

There are a number of companies that advertise ‘Debt Management Services’. In essence, these companies are suggesting they can negotiate a settlement with your various unsecured creditors on your behalf without going through a formal Consumer Proposal process.

One of the first options anyone with financial difficulty should consider is consolidating their debts through what is normally called a debt consolidation loan.

Both individuals and corporations can make use of the Bankruptcy and Insolvency Act. A consumer bankruptcy is simply a bankruptcy filing by an individual in Canada.

A debt consolidation loan is a single loan – generally obtained from a financial institution such as a chartered bank or credit union – that allows you to repay debts to multiple (and ideally all) creditors at once.

Are you in financial trouble? Are you worried about what will happen if you stop making credit card payments? Call the experts today for a free consultation.

What if one is on income assistance and cannot afford to pay for a trustee but needs to declare bankruptcy? How can one go about filing for bankruptcy and get the help they need?

Debt consolidation is the process of combining two or more debts into one. The aim of debt consolidation is to enable you to become debt-free through one consolidated monthly payment over a defined period of time.

First, congratulate yourself! You took the difficult first step of filing for bankruptcy and have earned yourself a fresh start.

what happens to my house when filing for bankruptcy... there is still mortgage on it but not much equity...