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.

Stuck in a cycle of debt but not sure exactly what your options are or how to decide which is the best route for you?

Assessing whether your client is experiencing financial distress does not require access to detailed financial information, but rather facts which are readily available if you keep a keen eye and watch for them.

For most people meeting monthly expenses while covering the costs of the holiday season makes this a difficult time of year. We become caught up in the moment and before we know it, the credit cards come out and we are spending, spending and spending.

If I decide to declare bankruptcy for my own personal dept, are my allowable asset values the same even if I am married with children?

The debt load is now overwhelming. This is not where you thought you would ever find yourself. After trying everything you can think of to manage it, you see no light at the end of the tunnel and you know it’s time to consult with a Licensed Insolvency Trustee about your options.

What exactly are your duties during a bankruptcy and what happens if you can’t keep up with them? Both very good questions!

Your bankruptcy does not automatically lead to the bankruptcy of your spouse. The fact that you are married or living common-law has no effect during bankruptcy. It is mostly your shared assets and debts that may have consequences for your spouse.