Bankruptcy is a legal process designed to give a fresh start to someone who is overwhelmed by too much debt by. It is appropriate if you:
- owe at least $1,000
- cannot meet your debts as they are due
- don’t have sufficient assets to cover that debt
- can’t resolve your financial difficulties any other way
With a few exceptions, bankruptcy lets you stop making payments to unsecured creditors. It also stops collection calls and legal proceedings. Bankruptcy protection is only available through the services of a licensed bankruptcy trustee. Click here to read our Bankruptcy FAQs.
To see if bankruptcy is the best option for you, call one of our professional counsellors today: in Ottawa, 613-237-5555; out of town, toll free 1-800-517-9926; email email@example.com.