Why declare bankruptcy?

Wipe the slate clean and get a fresh start!

If you’ve explored a number of solutions and see no way out, a personal bankruptcy may be a way to wipe the slate clean and get a fresh start.  

Is this the solution for you?

• This option is for those who are no longer able to pay their debts.

Advantages

• A bankruptcy cancels most of your debts, including your tax debts . You no longer have to pay your creditors.
• It protects you from most procedures by your creditors (lawsuits or wage garnishment), and creditors are no longer allowed to contact you.    
• You are protected from public utility cuts (telephone, electricity, gas, etc.).
• It allows you to keep your furniture and, in some cases, your house and your car.   
• The service is completely confidential.  In most cases, no notice is published and only your creditors are aware of your bankruptcy.  

Disadvantages

• Your credit rating will be affected.
• Some of your property could be seized.
• If you have non-dischargeable debts , they will not be cancelled by the bankruptcy.

For more information on personal bankruptcy, we suggest you speak to one of our counsellors.  Contact an office near you for a free, confidential consultation.