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When you locate a trustee in your area you can request a confidential evaluation by phone or set up a FREE confidential consultation at the trustee's office. |
Locate a Bankruptcy Trustee For a Free, Confidential Evaluation:
The cost of a bankruptcy or proposal is regulated by the Canadian Federal Government so the costs are the same across Canada.
The cost of a proposal varies depending on how much you agree to pay your creditors (Say 25 cents on the dollar payable over 36 months). The costs come out of that payment.
The cost of a bankruptcy and the length of time you will be in bankruptcy depends on your family income and family obligations. Our calculator will calculate this for you.
Each province and territory has set exemptions or the value of assets you can keep in a bankruptcy.
Job loss, divorce, a medical emergency or an other catastrophic event can make it difficult to keep on top of debt. Hundreds of thousands of Canadians have used bankruptcy laws to eliminate debt and get a fresh start. Bankruptcy laws are designed to help individuals and families struggling with debt.
Bankruptcy laws give individuals seeking debt relief two main options: bankruptcy and a consumer proposal. In each case the Stay of Proceedings prevents creditors from calling you or collecting on the debt.
Every day, people just like you decide to file for bankruptcy or file a consumer proposal. In 2010 more than 130,000 people filed bankruptcy or a consumer proposal.
With this economy, bankruptcy just doesn't hold that old stigma it may have had a decade ago. Most of us are struggling with debt--and many of us have lost income thanks to the economy.
Bankruptcy laws have helped hundreds of thousands of Canadians get out of debt. They've also helped people stop creditor harassment through the bankruptcy automatic stay.
If you're tired of creditors calling at all hours and you're looking for relief, ask a local trustee in bankruptcy whether filing bankruptcy could help you.
If you're thinking about filing bankruptcy, you're probably wondering how bankruptcy affects credit. It's true that bankruptcy stays on a credit report for 6 years after your discharge from bankruptcy and 3 years after the satisfaction of your consumer proposal. However, many people even gain stronger credit scores after filing bankruptcy because their old debt is gone and they can start fresh. Think about it--your credit probably wasn't that great to begin with. Bankruptcy was designed to clear debt to give people a fresh chance.
We have tested procedures outlined on this website on how a person can quickly rebuild credit after a bankruptcy or a consumer proposal.
Following these steps will enable you to rebuild your credit rating in the quickest possible time. You will be able to get a secured credit card and a car loan shortly after you are discharged. Provided you meet the income tests, a year after your discharge you should be able to qualify for most loans at excellent interest rates.
Two years after your discharge you will be able to get the most difficult credit of all - a mortgage - at the same interest rate, as the most credit worthy person who has never been in bankruptcy.
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Bankruptcy Information:Ask a Bankruptcy Trustee (It's Confidential)
We have bankruptcy trustees in every province and territory in Canada!
