How can I avoid Bankruptcy ?
Not everyone chooses to declare bankruptcy. Unfortunately, if you are being threatened or in the process of getting sued by a collection agency, you will need to review your options quickly. There are many bankruptcy alternatives to consider before choosing to proceed with personal bankruptcy. The ideal solution will depend on your circumstances and the extent of your debts. You may be eligible for a consumer proposal or other options like a debt consolidation loan. We recommend that you speak to a Licensed Insolvency Trustee before taking any action to get advice that will best suit your situation.
MORE QUESTIONSDo I qualify for bankruptcy? How long will I be bankrupt? How much will it cost? How will my credit rating be affected? If I declare bankruptcy, will I lose everything? Should I declare bankruptcy? Will I still be responsible for some debts after filing for bankruptcy? Does Filing for Bankruptcy in Canada Affect My Spouse? What is a bankruptcy discharge and the process involved? What is the OSB and what are their responsibilities? If I file a proposal or declare bankruptcy, what happens to my credit rating? What happens if my creditors vote against accepting my consumer proposal? Can I leave some creditors out of my consumer proposal? How Do I Get a Mortgage After A Consumer Proposal? Can a student with a government student loan go through bankruptcy or get a consumer proposal?