In personal bankruptcy what happens if I owe a company from California?

As a father, there are several financial lessons I hope I’ve passed along to my children. These are valuable bits of wisdom I’ve learned from my parents, personal experience and through my work as an accountant and Licensed Insolvency Trustee.

Confronting your debt can be overwhelming.

Bankruptcy is one of the most anxiety producing words in the financial lexicon.

High financial expectations coupled with harsh employment realities can leave recent post-secondary graduates feeling a little anxious and overwhelmed. The competitive job market, combined with lower than anticipated income and higher than expected costs are some of the realities facing post-secondary graduates.

A new survey conducted by Ipsos on behalf of MNP LTD, shows more than half (54%) of Albertans say they would be embarrassed to get help if their financial situation was bad enough to consider Bankruptcy, more than any other province. Albertans are also the most likely to say that the stigma surrounding Bankruptcy prevents them from seeking help (36%).

If you’re struggling to control your debt, you know the vicious cycle it can become.

Despite the Bank of Canada stating it will keep interest rates stable until next year, more than half (54%) of Canadians say they are more concerned about their ability to repay their debts than they used to be.

Sometimes life doesn’t turn out the way we expected and we find ourselves overwhelmed with debt.

Home equity lines of credit (HELOCs) have emerged as one of the biggest contributors to the growth of household debt in Canada, particularly in markets where real estate values have surged over the last decade. The latest data from the Office of Superintendent of Financial Institutions (OSFI) shows that the balance of loans secured by residential real estate has reached another record high of 269 billion in June.