Help and advice to anyone considering 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.
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.
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.
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!
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.
You can eliminate most unsecured debt in bankruptcy.
Typical unsecured debts that can be included in bankruptcy are:
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:
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.
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Vancouver branch: 777 Hornby Street, Suite 600, Vancouver, BC
A. Fisher & Associates
Licensed Insolvency Trustees in North York
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