Rhonda Fox-Miles frequently encounters the most common question regarding bankruptcy: “Should I file for bankruptcy? You aren’t alone.

Are you having trouble making payments?

Credit cards, car loans, mortgage payments, CRA tax debt, and business debt are just some types of debt bankruptcy we can help you navigate.

Creditors harassing you?

Bankruptcy helps to deal with creditors by placing a stay of proceedings on collections, which stops collections and provides immediate relief to your monthly debt obligations.

Are you feeling stressed?

When in financial difficulty, the amount of stress that builds up over time can seem inescapable and tends to affect all aspects of life, from business to personal relationships. Because bankruptcy helps alleviate the burden of debt while providing a structured financial solution possible for your fresh start.

Many people find their stress levels decrease significantly when they decide to go bankrupt. Because of bankruptcy, they no longer have the burden of dealing with the daily stress of their debts. The licenced insolvency trustee under the authority of the Bankruptcy and Insolvency Act of Canada takes charge.

With the economic uncertainty people are experiencing due to COVID-19, many people will go bankrupt. As a result, many people will turn to a trusted professional to help get them get back on their feet.

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What is Bankruptcy

Bankruptcy is an insolvency process under federal legislation with contributing provincial laws administered by the court of queens to get you a fresh start with your finances with help learning to identify the risk factors that lead to bankruptcy and how to prevent a future bankruptcy.

What Do You Need To Qualify For A Bankruptcy Declaration?

  • Owe more than $1000
  • You are insolvent
  • Live or do business in Canada
  • Have more debts than assets

Benefits Of Bankruptcy

Bankruptcy provides an automatic stay. All creditors get notified, and all actions against you are halted when you file for bankruptcy. Lawsuits, wage garnishments, and collection calls stop.

You have protection. The Bankruptcy & Insolvency act protects you by the terms and conditions of the act. All parties are on an equal playing field.

Bankruptcy clears unsecured debts. All your unsecured debts get dealt with during bankruptcy, minus a few exceptions. Credit cards, tax debts, payday loans, lines of credit and unpaid bills get resolved.

Negatives Of Bankruptcy

  • It does not address the underlying financial problems
  • Secure debts are still enforceable, which could go towards discharging your debt
  • If you have a high income, you will have to make surplus income payments
  • Your credit rating is negatively affected
  • Bankruptcies take longer than other options. First-time defaults take 9 or 21 months, depending on your level of income

Other Options Instead Of Going Bankrupt

  • Credit Counselling
  • Consolidation Loan
  • Consumer Proposal

Bankruptcy is available to anyone in distress; however, individuals may seek a reasonable alternative to bankruptcy, and a proposal is an option provided within the law. A proposal process offers a solution to debts without your standard requirements in a bankruptcy proceeding. Still, it arrives at the same goal of you being relieved of your obligations, moving forward with your life, and leaving the crushing debt you were carrying behind you.

couple reviewing bankruptcy documents


  • Over 40 years of experience
  • Be treated with respect and kindness
  • Rhonda comes from a social work background and understands what you are going through
  • A focus on the human cost, not just the financial cost
  • Effective credit counselling that addresses the reasons for the bankruptcy

Rhonda Fox-Miles comes from a social work background, which helps her understand what you are going through. Because of our philosophy, Fox-miles will always treat you with dignity, respect and kindness.  It can be stressful; choose a trustee who treats you like a person, not a number.

We always focus on you.  Not just the numbers.  We try to make this process as pain-free as possible. And we address the root of the problem, not just the symptoms. We want you to succeed.

Call Fox-Miles and associates for your free non-judgmental consultation today. We help you wipe your slate clean.

Contact us via our website or Call Us at 780-444-3939