Help and advice to anyone considering personal bankruptcy.

What is personal bankruptcy?

Personal bankruptcy is a legal process that offers you legal protection from creditors and eliminates your debts.

Hundreds of thousands of Canadians struggle with debt every day, and while for many there are other ways to deal with their debt, for an average of 60,000 Canadians every year, bankruptcy is the only option.

You can only file bankruptcy with a federally regulated Licensed Insolvency Trustee like A. Fisher & Associates. Applying for bankruptcy may seem daunting. However, we’re here to offer help and support to those who need it.

Dispelling misconceptions about bankruptcy

Despite thousands of people across the country turning to personal bankruptcy as a form of debt relief, there are still misconceptions surrounding the debt relief solution.

Myth: If I file for bankruptcy, I will lose my assets.

Fact: Filing for bankruptcy protects your assets.

Our experienced advisors are proud to offer help and advice to anyone considering personal bankruptcy.

They will guide you through the process of applying for bankruptcy and help you decide if it’s the right option for your circumstances.

What are the benefits of bankruptcy?

Affordable monthly payments

Protection from your creditors

Filing bankruptcy gives you complete legal protection from creditors. It prevents and stops legal actions, stops wages being garnisheed and lifts freezes on bank accounts. It even gives you protection from CRA.

Protection from creditors

Elimination of your debts without the need for creditor approval

Unlike other options, you do not need creditor approval for your debts to be eliminated. No one can stop you from filing bankruptcy, and once the process is completed, you will be debt free!

Interest rates frozen

More affordable option

Unlike other options, the cost of a bankruptcy is not based on the amount of debt you have. The cost is based on your income; the lower your income, the lower the costs. A bankruptcy costs less than other options.

What debts can be included in personal bankruptcy?

You can eliminate most unsecured debt in bankruptcy.

Typical unsecured debts that can be included in bankruptcy are:

  • Credit Cards
  • Bank loans, including overdraft accounts and unsecured lines of credit
  • Payday loans
  • Taxes
  • Personal loans
  • Student loan debt – with certain restrictions
Consumer Proposal
What debts can't be included in a consumer proposal?

What debts can’t be included in personal bankruptcy?

Although bankruptcy can be a useful way to eliminate unsecured debt and rebuild your financial life, there are certain debts that can’t be eliminated through bankruptcy, including:

  • Fines or penalties imposed by a Court
  • Unpaid alimony or child support
  • Debts that arose as the result of fraud
  • Certain student loan debts

Secured debts guaranteed by an asset, like a vehicle loan, also can’t be eliminated in bankruptcy.

If you file a bankruptcy, you can continue to pay your secured creditors, or stop paying and surrender the asset.

Together we will implement a solution that’s right for you and kickstart your journey to life after debt.

Is bankruptcy right for you?

Bankruptcy could be the answer to your financial problems if:

  • You are unable to manage your debt
  • The calls and harassment from creditors are becoming overwhelming
  • You do not have the cash flow to pay back all or a portion of your debts

Being in debt can be difficult to handle and can put you in a lonely place, but at A. Fisher & Associates, we want you to know that you are not alone. Our expert advisors are here to help you find the best solution for your situation.

Book a consultation and rebuild your financial life