Even if you are struggling with complicated financial problems, this does not mean there are no solutions to your situation. Several solutions exist to help you make a fresh start, debt free.
The nature and extent of financial problems faced by individuals vary greatly, so does the solutions.
The main solutions are:
Personal Bankruptcy – Your final option
When you have exhausted your options and you no longer see the light at the end of the tunnel, bankruptcy is ideal for a fresh start at a lower cost and in shortest time.
Personal bankruptcy is a legal procedure by which you can quickly erase your debts and start fresh. You will not lose all your assets, most of them being unseizable. Subject to certain conditions, you might even be able to keep your home or car.
Once the bankruptcy is in effect you do not have to pay all your creditors and collection procedures will be stopped, including lawsuits and seizures, thus ending the harassment.
Consumer Proposal – Avoid bankruptcy
If you want to solve your financial problems while avoiding bankruptcy, consumer proposal might be for you. It is a legal process that is used by more and more Canadians struggling with financial problems.
The consumer proposal allows you to keep all your assets and pay off your debts with one monthly payment based on your actual ability to pay.
Once your proposal is in effect you do not have to pay all your creditors and collection procedures will be stopped, including lawsuits and seizures, thus ending the harassment.
Maybe another option would be more appropriate for you. A free evaluation of your situation would possibly identify alternatives to bankruptcy or consumer proposal. Among the most common solutions we find…
Get a free evaluation of your situation
Because every case is unique and that the problems can be numerous and complex, a free professional assessment of your situation and is necessary to determine the choices available to you and discuss their implications.